Mon, Mar 7th, 2022 - 4:55pm
March 11, 2022 - 7:05am | By Kyle Cornell
(St. Paul, MN) -- Minnesota lawmakers are working on a plan to divest the state's pension funds from Russia.
Bipartisan legislation was proposed Thursday that would pull 50-percent of funds tied to Russia out within nine month of the bill being enacted. The state would then have a goal of being 100-percent divested from Russia by 15 months after the bill is in place.
The state's pension funds are estimated to have 53-million dollars in assets with ties to Russia. The bill would back up an executive order from Democratic Governor Tim Walz that bans state agencies from doing business with Russian companies.
