INDIANAPOLIS, Ind. — Indiana’s Teacher’s Retirement Fund (TRF) and the state’s Public Employee Retirement Fund (PERF) would no longer do business with companies who invest in countries providing support to terrorist groups if Sen. Ron Alting’s (R-Lafayette) legislation becomes law this session. A Senate panel will consider the bill Thursday.
Alting’s divestment legislation – Senate Bill 562 – would require PERF and TRF retirement fund administrators to contact companies with business dealings in nations suspected by the State Department of sponsoring terrorism and request that they cease those business ties. Alting’s bill would prevent PERF and TRF from investing in companies unresponsive to requests.
“Our state employees trust these retirement funds to invest their hard-earned dollars. This legislation helps PERF and TRF assure clients their money is not contributing to terrorism,” Alting said. “Senate Bill 562 sends a clear message Hoosiers will not support violent acts of terrorism that claim many innocent lives.”
Alting said his bill is one way Indiana can help with the Global War on Terrorism.
“Some nations and multi-national companies are thought by experts to supply terrorist groups with the funds, weapons, materials and secure areas they need to carry out their depraved plans,” Alting said. “As a state, we are insisting these businesses end their ties to suspect companies and nations by withdrawing PERF and TRF investments.
According to Alting, the Senate Committee on Appropriations will meet Thursday in Room 431 at the Statehouse beginning at 8:30 a.m. To watch the proceedings online visit http://asx.ihets.org/senate431/live.asx.