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.