[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6183 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 6183

   To amend title 5, United States Code, to provide for a corporate 
    responsibility investment option under the Thrift Savings Plan.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 22, 2010

 Mr. Langevin (for himself, Mr. Kennedy, Mr. Kucinich, Mrs. Lowey, and 
Mr. McGovern) introduced the following bill; which was referred to the 
              Committee on Oversight and Government Reform

_______________________________________________________________________

                                 A BILL


 
   To amend title 5, United States Code, to provide for a corporate 
    responsibility investment option under the Thrift Savings Plan.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Employees Responsible 
Investment Act''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) The Department of Labor has asserted that socially 
        responsible investments meet the fiduciary standards set in the 
        Employee Retirement Income Security Act.
            (2) Eighty-four percent of mutual fund investors would be 
        more likely to invest in a fund if one of its principles was to 
        invest in companies that engage in ethical business practices 
        in terms of operations and reporting.
            (3) Seventy-one percent of investors agree that companies 
        that operate with higher levels of integrity carry less 
        investment risk, and 67 percent of investors believe that these 
        companies deliver better investment returns.
            (4) In 2007, $2,700,000,000,000 was invested in socially 
        responsible funds in the United States.

SEC. 3. CORPORATE RESPONSIBILITY STOCK INDEX FUND.

    (a) Definition.--Section 8438(a) of title 5, United States Code, is 
amended--
            (1) in paragraph (9), by striking ``and'' at the end;
            (2) in paragraph (10), by striking the period at the end 
        and inserting ``; and''; and
            (3) by adding at the end the following:
            ``(11) the term `Corporate Responsibility Stock Index Fund' 
        refers to the fund established under subsection (b)(1)(G).''.
    (b) Establishment.--
            (1) In general.--Section 8438(b)(1) of title 5, United 
        States Code, is amended--
                    (A) in subparagraph (E), by striking ``and'' at the 
                end;
                    (B) in subparagraph (F), by striking the period at 
                the end and inserting ``; and''; and
                    (C) by adding at the end the following:
            ``(G) a Corporate Responsibility Stock Index Fund as 
        provided under paragraph (6).''.
            (2) Fund requirements.--Section 8438(b) of title 5, United 
        States Code, is amended by adding at the end the following:
    ``(6)(A) The Board shall select a minimum of one index which is a 
commonly recognized, passively managed index comprised of stocks 
(domestic or otherwise) that have been analyzed based on criteria 
consistent with the purposes of this paragraph. Such criteria shall at 
a minimum include corporate governance, environmental practices, 
workplace relations and benefits, product safety and impact, 
international operations and human rights, involvement with repressive 
regimes, and community relations. The (or, if more than one, each) 
index's financial track record must be comparable to that of the other 
options available under the Thrift Savings Plan.
    ``(B) The Corporate Responsibility Stock Index Fund shall be 
invested in a portfolio designed to replicate the performance of the 
index in subparagraph (A) (or, if more than one, their overall average 
performance). The portfolio shall be designed such that, to the extent 
practicable, the percentage of the Corporate Responsibility Stock Index 
Fund that is invested in each stock is the same as the percentage 
determined by dividing the aggregate market value of all shares of that 
stock by the aggregate market value of all shares of all stocks 
included in such index (or indexes).''.
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