[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 5005 Introduced in Senate (IS)]

<DOC>






116th CONGRESS
  2d Session
                                S. 5005

 To require pension plans subject to the requirements of the Employee 
 Retirement Income Security Act of 1974 to establish minimum standards 
 to address the threat from investments that finance Communist Chinese 
                          military companies.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           December 10, 2020

Mrs. Blackburn introduced the following bill; which was read twice and 
  referred to the Committee on Health, Education, Labor, and Pensions

_______________________________________________________________________

                                 A BILL


 
 To require pension plans subject to the requirements of the Employee 
 Retirement Income Security Act of 1974 to establish minimum standards 
 to address the threat from investments that finance Communist Chinese 
                          military companies.

    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 ``Defending Pensions from the Chinese 
Communist Threat Act''.

SEC. 2. ADDRESSING THE THREAT FROM INVESTMENTS THAT FINANCE COMMUNIST 
              CHINESE MILITARY COMPANIES.

    Not later than one year after the date of enactment of this Act, 
the Secretary of Labor, in consultation with the Secretary of Defense 
and, as the Secretary of Labor determines appropriate, heads of other 
Federal agencies, shall prohibit pension plans (as defined in section 3 
of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 
1002)) from investing in any persons on the list of Communist Chinese 
military companies under section 1237(b) of the Strom Thurmond National 
Defense Authorization Act of Fiscal Year 1999 (Public Law 105-261; 50 
U.S.C. 1702 note).
                                 <all>