Comptroller Nieshalla and Treasurer Elliott Applaud Pension Plan’s Fast Action to Divest Assets from China
AUGUST 3, 2024
STATEHOUSE – Indiana State Comptroller Elise Nieshalla and Treasurer Daniel Elliott offer their praise for the speedy action taken by the Indiana Public Retirement System (INPRS) to divest assets from China. Both Comptroller Nieshalla and Treasurer Elliot are INPRS board members.
In 2023, Indiana became the first state to enact a law, Senate Enrolled Act 268, requiring the public pension system to divest within five years from “any investment that is domiciled, issued, incorporated or listed in the People’s Republic of China or the Chinese Communist Party.” The law passed both chambers with unanimous, bipartisan support. As of July 1, 2024, just one year later, the pension plan has divested 100 percent of the $1.2 billion investments in Chinese entities.
“China is one of the foremost threats against our country’s national security, and INPRS has nobly exceeding the parameters set forth in the law by divesting Hoosier’s pension dollars from China ASAP,” Comptroller Nieshalla said.
“By divesting from China and focusing on investments in countries that value the principles of democracy, capitalism and freedom, we are safeguarding the best financial interest of Hoosiers and our nation,” said Treasurer Elliott.
Both Comptroller Nieshalla and Treasurer Elliott commend Senators Chris Garten, Aaron Freeman and Travis Holdman who authored SEA 268, and the Indiana General Assembly for passing this necessary common-sense legislation.
