Indiana Public Retirement System, Indianapolis, will be required to divest from businesses that boycott, divest or sanction Israel as a result of a bill passed by the Indiana General Assembly.
The bill was passed by the Indiana Senate on Tuesday and the state House on Jan. 25. It awaits Gov. Mike Pence’s signature; he is expected to approve the legislation.
The $28.3 billion retirement system estimates that about $50 million in assets would have to be divested as a result of the legislation, said Jennifer Dunlap, system spokeswoman.
If signed by Mr. Pence, INPRS will be required to list direct or indirect holdings of businesses to be restricted by the bill by its first scheduled meeting in 2017, Ms. Dunlap said.
