Media Statement on Indiana Treasurer’s Boycott List

Media Statement on Indiana Treasurer’s Boycott List
Tim Hill, President

“Today’s decision by Indiana Treasurer Daniel Elliott to create an investment firm blacklist puts politics over pensions and investment performance. Indiana state officials have plenty of evidence that shows the legally questionable approach of blacklisting investment firms could result in financial setbacks for the state’s pension plans.

This deeply hurts the current pensioners and future retirees who rely on INPRS for their financial security.

When the Indiana legislature first considered an earlier draft of this bill, it came with a hefty price tag. The Indiana Legislative Services agency estimated the initial proposal had the potential to cut a staggering $6.7 billion from public pension returns. While subsequent versions of the legislation lowered that incredible cost, it didn’t eliminate the risk to the state’s retirees and taxpayers from having to foot the bill for a politically driven blacklist.

Growing retirement and savings through the capital markets should always be focused on achieving the best returns for retirement investors. Politics of this kind has no place in Americans’ investment decisions. Hoosiers deserve better; hopefully the INPRS Board will agree and reject efforts to put political decisions over the retirement objectives of the state.”