Rep. Jack Jordan: Indiana divests public pensions from China

Tuesday, September 3, 2024 at 11:00 PM

By Kathy Bottorff

State Representative Jack Jordan (R-Bremen) released details on the state divesting from China. He said, “The Indiana Public Retirement System recently completed divesting $1.2 billion in investments from Chinese government-controlled entities. Indiana was the first state to pass legislation mandating divestment from entities controlled by the People's Republic of China or the Chinese Communist Party.”

The FBI has reported on the national security threat the Chinese Communist Party poses, which includes intellectual property theft, cyber espionage, and coordinating with other countries to develop a global currency that would undermine the U.S. dollar.

Rep. Jordan said, “INPRS manages the pension funds for Indiana's state employees, teachers, state law enforcement officers, public officials and others. The state manages over $45 billion in pension assets, invested for the exclusive benefit of its more than 500,000 members and their families.”

He continued saying, “To further protect our state, I also supported a new law that bans individuals or entities associated with foreign adversaries, like China, from purchasing or leasing agricultural land and mineral, water, or riparian rights. China, along with Russia, North Korea, and Iran, also cannot purchase or lease land within a 10-mile radius of military installations under the new law.”

In closing our state representative said, “As your state representative, I will continue supporting efforts to ensure Hoosiers and the state's assets are protected from our foreign adversaries.”