Georgia’s State Pension Funds Lose $150 Million in Russia Investments

Investigative
ECONOMY & BUSINESS
EDUCATION
INVESTIGATION
POLITICS & POLICY
SOCIAL ISSUES
TAXES,MONEY & GOVERNMENT
8 min read
57 words
Key Points
  • Gov. Brian Kemp and House Speaker David Ralston called for divestment from Russian stocks following that country’s invasion of Ukraine.
  • The value of Georgia’s Russia-related investments dropped 99.73% by the time they were sold off.
  • The loss raises questions over what assets are in the portfolio.
Georgia state officials this month quietly shed more than $150 million in Russian assets from the state’s pension systems, as scrutiny over U.S. states’ investments mounted amid Russia’s full-scale invasion of Ukraine. Georgia’s two state-run pension systems, which pay out retirement benefits to teachers and state employees, were invested in $158.4 million in Russian assets ...

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