According to a Newsweek story, the federal government’s “Thrift Savings Plan” includes 5,000 mutual funds in which a portion of $720 billion includes Chinese companies. Those companies are sanctioned by the U.S. government or on a “watch list” because of their activities. One of the Chinese companies manufactures fighter jet engines. A second company uses slave labor to make solar panels.
Faith McDonnell, who speaks up for persecuted Christians at KGI Global, says many people were pleased when the Trump administration enacted a policy that barred the Chinese Communist Party-affiliated companies from benefitting from the U.S. government.
“And then when Biden came into office this was reversed,” she tells AFN. “And the Thrift Savings Plan was back in business with $730 billion of retirement funds at risk that would be transferred into CCP companies.”
Lawmakers from both parties on Capitol Hill, aware the CCP is benefitting from the savings plan, are pushing to stop it, according to Newsweek.
Bishop Derek Jones, who leads Chaplain Alliance for Religious Liberty, says the Biden administration handed our retirement plan to the Chinese government.
“So every American soldier, airman, and sailor who are contributing money to their own retirement program,” he warns, “that money is being managed by the Chinese who are using that money contributed to buy and build up their military.”
