Gov. Wolf Urges SERS and PSERS to Divest from Russian Assets

March 03, 2022

Governor Tom Wolf today sent letters to the Pennsylvania State Employees’ Retirement System (SERS) and the Public School Employees’ Retirement System (PSERS) urging them to take immediate action to divest any public pension funds from investments connected to Russia. 

“As the events in Ukraine continue to unfold, I am doing what is within my authority to ensure the commonwealth is disengaging in business with Russia. I, along with other leaders throughout the country, have and continue to strongly condemn the unprovoked and unjustified Russian military invasion of the independent country of Ukraine,” Gov. Wolf said. “While I am committed to sign any clean legislation that lands on my desk that would require divestment of public funds in Russian assets, such as the concept that Leader Benninghoff has recently announced, we need to act now where we can. As such, I strongly urge SERS and PSERS to take immediate action to divest any public pension funds from investments connected to Russia. We must do what is within our power to bring an end to the suffering of the people of Ukraine.”

A Copy of the Governor’s Letter to SERS.

Copy of the Governor’s letter to PSERS.

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