Section 1 Short title
This Act may be cited as the “Defending Pensions from the Chinese Communist Threat Act”.
Defending Pensions from the Chinese Communist Threat Act
A BILL
To require pension plans subject to the requirements of the Employee Retirement Income Security Act of 1974 to establish minimum standards to address the threat from investments that finance Communist Chinese military companies.
Sec. 2 Addressing the threat from investments that finance Communist Chinese military companies
Not later than one year after the date of enactment of this Act, the Secretary of Labor, in consultation with the Secretary of Defense and, as the Secretary of Labor determines appropriate, heads of other Federal agencies, shall prohibit pension plans (as defined in section 3 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002)) from investing in any persons on the list of Communist Chinese military companies under section 1237(b) of the Strom Thurmond National Defense Authorization Act of Fiscal Year 1999 (Public Law 105–261; 50 U.S.C. 1702 note).