The nation’s largest retirement program — the federal government’s Thrift Savings Plan — will begin offering ESG funds in the summer of 2022 through a new mutual fund “window” similar to a brokerage option.
The plan currently offers ten target-date funds and five individual funds managed by BlackRock and State Street Global Advisors. The new window will include more than 5,000 funds.
The TSP has about $760 billion in assets and covers about 6.3 million federal employees and service members.
According to the Plan Sponsor Council of America, just 2.9% of plans that it surveys annually offer an ESG or socially responsible fund option, and only about 0.1% of total plan assets are in those funds.
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