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The Trump administration on Monday ordered the board that governs the federal government’s 401(k)-style retirement savings program to halt its efforts to change the index upon which the Thrift Savings Plan’s international (I) fund is based over concerns federal workers could have their money invested in Chinese corporations.
The Federal Retirement Thrift Investment Board has been in the crosshairs of some lawmakers and China policy hawks since last summer over its 2017 decision to change the I Fund index from the MSCI Europe, Australasia and Far East Index to the more comprehensive MSCI All Country World Ex-US Investable Market Index, which includes investments in more than 48 markets around the world, most notably Canada and China.