Reps. Weinstein and Miller introduce resolution to urge Ohio's state retirement systems to divest from Russian assets

COLUMBUS– State Rep. Casey Weinstein (D-Hudson) and Rep. Adam Miller (D-Columbus) introduced a House Resolution today that calls on Ohio’s boards of the state retirement systems to divest in holdings in companies and institutions based in Russia in a manner that is orderly and consistent with their fiduciary duties.

Russian holdings in the State’s five pension systems are:

·         Ohio Public Employees Retirement System: roughly $110 million

·         School Employees Retirement System: $42.1 million

·         Ohio Police & Fire Pension Fund: roughly $6.5 million 

·         State Teachers Retirement System: less than $50 million

·         Ohio Highway Patrol Retirement System: $1.6 million in co-mingled funds.

“I’m thankful to be filing this Resolution with broad, bipartisan support,” said Rep. Weinstein. “Ohio needs to do our part to send Putin a message that we stand with Ukraine and that there are consequences to his actions. This is a start.”

The legislation now awaits a bill number and assignment to a House Committee.