Indiana Pensions Join States, Institutions Divesting From China
Posted on 10/12/2023
Indiana is planning to finish pulling back its US$ 1.2 billion in pension investments parked in Chinese companies. Indiana’s funds will also be pulled from companies that do certain types of business with China, such as intelligence collecting. Indiana says it has managed to retrieve much of the US$ 1.2 billion and is moving ahead with plans to retract the rest.
In Indiana’s case this is due to Sentate Bill 268. The bill “Prohibits the Indiana public retirement system from investing in certain restricted entities or restricted investment products, including particular investments publicly confirmed to be controlled by the People’s Republic of China or the Chinese Communist Party. Specifies exceptions, a divestment schedule, and reporting requirements. Adds a provision urging the legislative council to assign to the interim study committee on pension management oversight the topic of studying whether to cease or defer divestment or resume investment in an entity or product in accordance with the provisions regarding divestment from Chinese companies.”
Bill 268 saw strong support from Indiana’s political representatives. It was authored by Sen. Chris Garten, Sen. Travis Holdman, Sen. Aaron Freeman.