The State of Michigan Investment Board voted unanimously to divest the State of Michigan Retirement Systems (SMRS) pension plans from companies based in Russia and Belarus. The action comes after Governor Gretchen Whitmer issued a letter on March 1 calling for a special meeting to divest from any institutions and companies based in Russia. They will begin divesting as soon as practical when market conditions allow.
The SMRS provides benefits to active and retired civil servants and other individuals who have worked for the benefit of the State of Michigan. The total portfolio exceeds $98 billion, with approximately 0.06% of state pension assets associated with Russian institutions and organizations. The Russian holdings are managed by external investment managers and primary invested in low-cost international stock index funds.
Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit www.mlcmi.com or connect with us on LinkedIn and Twitter.
Michigan Legislative Consultants
110 W. Michigan Avenue
Suite 500
Lansing, MI 48933
517.372.2560
517.372.0130 fax
EXPERTISE
About MLC
Our Services
Our People
Our Work
MLC is proud to be the Michigan member of NASL
