JEFFERSON CITY, Mo. – Following the abrupt resignation earlier this month of national security adviser Michael Flynn because of his ties with Russia, Missouri State Senators Maria Chappelle-Nadal and Jamilah Nasheed are calling on the St. Louis Police Retirement System to withdraw its more than $6.5 million in investments from Russian-based organizations.
“The continued discovery of Missouri’s public investments in Russia underscores the very real and immediate need we have to divest these dollars in the interest of national security,” said Sen. Chappelle-Nadal. “Love of country is not a partisan issue, it’s a value we share as Americans and I look forward to working with my colleagues in the General Assembly to ensure that Missouri investments reflect Missouri values.”
“The brave men and women of law enforcement put their lives on the line to keep us safe, it makes no sense to send their retirement investments overseas to a country that seeks to undermine that very safety,” said Sen. Nasheed. “On behalf of our retired and active duty police officers in St. Louis, we should bring these dollars home.”
New information provided to the Senators from the Joint Committee on Public Employee Retirement details $6,576,372 in St. Louis Police Retirement System investments in Russia through four separate money managers. Because these investments represent less than one percent of the entire market value of this system, the divestiture of these funds will not greatly impact the fund’s performance or diversity.
Last month, Sen. Chappelle-Nadal filed Senate Bill 308 to prohibit state and local government agencies from contracting with or investing in individuals, partnerships, corporations, or other organizations doing business with Russia or its occupied territories. Under this legislation, any existing investments or contracts would be canceled and divested as prudently as possible. This legislation would apply only to public taxpayer dollars and would not impact or intervene with the private business affairs of Missouri companies or citizens.
