Bill > SB69

This bill prohibits the Board of Control of the Employees' Retirement System of Alabama (ERSA) and the Teachers' Retirement System of Alabama (TRSA) from investing in or maintaining investments with "restricted entities" associated with Chinese military companies. A "restricted entity" is comprehensively defined as any Chinese entity that appears on multiple U.S. government watch lists, including those related to national security, military-industrial activities, human rights concerns, and export control regulations. By January 1, 2025, the State Auditor must create and maintain a list of these restricted entities, updating it every six months. Upon publication of this list, the retirement systems' boards must identify any existing investments in these entities and, acting as prudent investors, must expeditiously divest from them. The bill covers a wide range of Chinese entities, from those directly tied to military activities to agencies or instrumentalities of the People's Republic of China, and is designed to prevent Alabama's public retirement systems from supporting entities potentially threatening U.S. national security. The provisions will take effect on October 1, 2025, giving retirement system managers time to prepare for the new investment restrictions.

Military Affairs and Security

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