Part of the commission's duties of reviewing PERF and TRF policies is ensuring that a bill enacted last year is enforced. 2009's House Enrolled Act 1547 requires that PERF and TRF withdraw any investments in companies that have active operations in nations which support terrorism. "Terrorism is a threat to our nation so, by taking this small step, Hoosiers are sending the message that Indiana is doing its part to fight terrorism," said Rep. Crouch. The Federal Department of Justice has declared Cuba, Syria, Sudan and Iran as countries that support terrorism. So, any company with active operations in those countries, PERF and TRF cannot be invested in. So far, nine companies have been identified. These nine companies represent $92.8 million which is about 0.4 percent of PERF and TRF total assets. To date, $22.8 million of the total has been divested. While all the assets and securities have not been divested from these companies yet, notices have been sent to them stating Indiana will retract its invested funds. Indiana has five years to divest 100 percent of PERF and TRF funds from those companies if they are actively operating in one of the four countries. "I hope more state's follow Indiana's lead with regards to how they manage their money," said Rep. Crouch. "Regardless of how well a company performs in the market, it's not worth investing in it if it's operating in an unethical and questionable atmosphere." |
