LA Controller asks city pension funds to divest from Russian investments

Los Angeles Comptroller Ron Galperin on Tuesday urged the city to identify all Russian investments held by the city’s three retirement plans and take steps to divest them in response to the Russian invasion of the Ukraine.

The city has a total of $46.2 million in Russian securities as of March 31 in its three retirement plans: Los Angeles Fire and Police Pensions, City of Los Employees Retirement System Angeles and the Water and Electric Employees Retirement Plan, according to Galperin’s office. .

“Because of the heinous war crimes committed by Russia, I believe the City of Los Angeles should explore all options and take all measures within its power to support the people of Ukraine,” Galperin said.

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