NUNN BILL TO PROTECT STATE PENSION INVESTMENTS
FROM POLITICAL AGENDAS MOVES TO HOUSE
FRANKFORT, KY (March 4, 2025)—The Kentucky Senate has approved Senate Bill (SB) 183, a measure sponsored by Sen. Matt Nunn, R-Sadieville, to require investment decisions made for state-administered retirement systems be based solely on financial interests rather than political or social agendas. The bill requires proxy advisers handling retirement system investments to either follow the recommendation of a company’s board of directors or, if voting against it, provide a detailed economic analysis demonstrating the decision is in the best interest of Kentucky’s retirees and pension beneficiaries.
The bill addresses concerns over large proxy advisory firms, which influence corporate decision-making and have been criticized for prioritizing ESG (environmental, social, and governance) goals over financial performance. SB 183 allows Kentucky’s pension funds to remain focused solely on maximizing returns and protects current and future retirees from investment strategies that could reduce stock value and harm long-term pension stability.
“This is about financial stewardship and protecting the hard-earned retirements of Kentucky’s public employees,” said Nunn. “Investment decisions should be based on economic returns, not any ideological agendas, as those have no place in managing pension funds, nor helping create financial security for those in state service.”
SB 183 now moves to the House for further consideration. Follow its progress at Legislature.ky.gov.
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Sen. Matt Nunn represents the 17th Senate District, including Grant and Scott Counties, southern Kenton County, and northwestern Fayette County. Elected to the Senate in November, Nunn succeeded Kentucky’s longest-serving Senate majority floor leader, Sen. Damon Thayer. Nunn is co-chair of the Budget Review Subcommittee on Economic Development, Natural Resources, and Environmental Protection. He is also a member of the Senate Committees on Economic Development, Tourism, and Labor; Appropriations and Revenue; Licensing and Occupations; Agriculture; and Veterans, Military Affairs, and Public Protection. Additionally, Nunn serves on the Legislative Oversight and Investigations Committee.
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