STATEMENT RELEASE: MILLS ON PASSAGE OF BILL PROTECTING TEACHERS, STATE EMPLOYEE PENSIONS FROM IDEOLOGICAL-DRIVEN INVESTMENTS

STATEMENT RELEASE: MILLS ON PASSAGE OF BILL PROTECTING TEACHERS, STATE EMPLOYEE PENSIONS FROM IDEOLOGICAL-DRIVEN INVESTMENTS

FRANKFORT, KY (March 13, 2023) — The following is a statement from Senator Robby Mills, R-Henderson, upon the Senate's approval of Rep. Scott Sharp's House Bill 236. The bill would require state public pension funds to base investment decisions on financial risks and returns and not on environmental, social and governance factors, commonly known as ESG:

"People should not have to lie awake at night worrying about whether or not their pension fund is being managed based on political ideology," said Mills, a Public Pension Oversight Board member. "The sole focus of fiduciaries caring for our state employee's pension systems should be to see it grow, not to take risks with people's livelihoods in efforts to push forward some social and political agenda."

House Bill 236 cleared the Senate 32-5. The bill is similar to last year’s Senate Bill 205, which was sponsored by Senator Robby Mills. House Bill 236 now moves to the Governor for consideration. The measure would take effect 90 days after the adjournment of the session.

Find the bill in full by clicking THIS LINK.

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Senator Robby Mills, R-Henderson, represents the 4th Senate District, including Henderson, Hopkins, Union, and Webster Counties. He serves as Senate State and Local Government Committee chair and is a Senate Economic Development, Tourism and Labor; Natural Resources; and Energy and Transportation committee member. Additionally, he is a Public Pension Oversight Board member and a member of the Budget Review Subcommittee on General Government, Finance and Public Protection.

For a high-resolution .jpeg of Mills, please visit: https://legislature.ky.gov/Legislators%20Full%20Res%20Images/senate104.jpg