Fed retirement plan allows investments in sanctioned Chinese companies

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Millions of federal employees can invest in Chinese companies sanctioned by the U.S. government via its flagship retirement plan, even though these companies have been branded a danger to national security or are accused of profiting from forced labor or other human rights abuses.

Since June 2022, the federal government’s employee retirement plan—the largest in the world with $720 billion in assets—has offered its 6.8 million members the option to invest some of their savings in an account containing about 5,000 mutual funds, some of which have holdings in Chinese companies that are on at least nine U.S. government sanctions or watch lists.

Among those companies are a leading developer of engines for fighter planes and turbines for naval ships, solar panel firms targeted for allegedly using forced labor by Uyghurs and others living in China’s western Xinjiang region, as well as makers of surveillance systems seen as a threat to the U.S.

Read more at Newsweek.com

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Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!