Contact: Jacob Stewart, Press Secretary
Jacob.Stewart@iga.in.gov
317-232-9498
STATEHOUSE (July 31, 2024) — Last week, Politico published an article highlighting a 2023 law authored by State Sen. Chris Garten (R-Charlestown) that requires the divestment of Hoosier pension funds from entities controlled by the Chinese Communist Party (CCP) and prevents any future investment in those entities.
"Prior to the passage of Senate Enrolled Act 268, the state of Indiana had over $1 billion invested in CCP interests," Garten said. "Considering China's increased aggression towards the U.S. in recent years, this was a considerable financial vulnerability that had to be addressed."
Today, one year after SEA 268 was passed, the state pension plan has divested 100 percent of the $1.2 billion investments in Chinese entities.
"I am grateful for the support from my legislative colleagues for prioritizing this strong statement of policy, and I commend the Indiana Public Retirement System (INPRS) for making quick work of this divestment," Garten said. "It is great to see Indiana lead the charge on an issue that impacts not only Hoosiers, but all Americans."
In the last year, Florida, Oklahoma, Kansas and Missouri modeled legislation after SEA 268 to protect their state pension funds.
"As tensions continue to rise between the U.S. and China, removing the possibility of China freezing U.S. assets and harming public employees is simply good policy," Garten said. "It is extremely important for us to continue to protect Indiana’s economic stability and keep Hoosier money out of the hands of adversarial states."
The full article highlighting this effort can be found here.
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State Sen. Chris Garten (R-Charlestown) represents Senate District 45,
which includes Clark County and portions of Floyd County.
Click here to download a high-resolution photo.
