I 

110TH CONGRESS 

1ST SESSION H. R. 2519 

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 

MAY 24, 2007 

Mr. LANGEVIN (for himself and Mr. SHAYS) 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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Federal Employees Re5 sponsible Investment Act’’. 

6 SEC. 2. FINDINGS. 

7 Congress finds the following: 

8 (1) The Department of Labor has asserted that 

9 socially responsible investments meet the fiduciary 


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1 standards set in the Employee Retirement Income 

2 Security Act. 

3 (2) 84 percent of mutual fund investors would 

4 be more likely to invest in a fund if one of its prin5 ciples was to invest in companies that engage in eth6 ical business practices in terms of operations and re7 porting. 

8 (3) 71 percent of investors agree that compa9 nies that operate with higher levels of integrity carry 

10 less investment risk, and 67 percent of investors be11 lieve that these companies deliver better investment 

12 returns. 

13 SEC. 3. CORPORATE RESPONSIBILITY STOCK INDEX FUND. 

14 (a) DEFINITION.—Section 8438(a) of title 5, United 

15 States Code, is amended— 

16 (1) in paragraph (9), by striking ‘‘and’’ at the 

17 end; 

18 (2) in paragraph (10), by striking the period at 

19 the end and inserting ‘‘; and’’; and 

20 (3) by adding at the end the following: 

21 ‘‘(11) the term ‘Corporate Responsibility Stock 

22 Index Fund’ refers to the fund established under 

23 subsection (b)(1)(F).’’. 

24 (b) ESTABLISHMENT.— 


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1 (1) IN GENERAL.—Section 8438(b)(1) of title 

2 5, United States Code, is amended— 

3 (A) in subparagraph (D), by striking 

4 ‘‘and’’ at the end; 

5 (B) in subparagraph (E), by striking the 

6 period at the end and inserting ‘‘; and’’; and 

7 (C) by adding at the end the following: 

8 ‘‘(F) a Corporate Responsibility Stock Index 

9 Fund as provided under paragraph (5).’’. 

10 (2) FUND REQUIREMENTS.—Section 8438(b) of 

11 title 5, United States Code, is amended by adding 

12 at the end the following: 

13 ‘‘(5)(A) The Board shall select an index which is a 

14 commonly recognized, passively managed index comprised 

15 of domestic stocks that have been analyzed based on cri16 teria consistent with the purposes of this paragraph. Such 

17 criteria may include corporate governance, environmental 

18 practices, workplace relations and benefits, product safety 

19 and impact, international operations and human rights, 

20 involvement with repressive regimes, and community rela21 tions. The index’s financial track record must be com22 parable to that of the other options available under the 

23 Thrift Savings Plan. 

24 ‘‘(B) The Corporate Responsibility Stock Index Fund 

25 shall be invested in a portfolio designed to replicate the 


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1 performance of the index in subparagraph (A). The port2 folio shall be designed such that, to the extent practicable, 

3 the percentage of the Corporate Responsibility Stock 

4 Index Fund that is invested in each stock is the same as 

5 the percentage determined by dividing the aggregate mar6 ket value of all shares of that stock by the aggregate mar7 ket value of all shares of all stocks included in such 

8 index.’’. 

9 (c) ACKNOWLEDGMENT OF RISK.—Section 8439(d) 

10 of title 5, United States Code, is amended— 

11 (1) by striking ‘‘or the Small Capitalization 

12 Stock Index Investment Fund,’’ and inserting ‘‘the 

13 Small Capitalization Stock Index Investment Fund, 

14 or the Corporate Responsibility Stock Index Fund,’’; 

15 and 

16 (2) by striking ‘‘and (10),’’ and inserting ‘‘(10), 

17 and (11),’’. 

Æ 


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