Beshear Wants Pension Systems To Divest From Companies Profitting From Opioids
Kentucky’s attorney general wants the state to stop investing taxpayer dollars and retirement contributions in companies that have profited from the opioid crisis. As Lisa Autry reports from member station WKYU, it’s Andy Beshear’s latest attempt to punish the makers and distributors of highly addictive painkillers.
Beshear sent letters this week to the Kentucky Retirement Systems and the Kentucky Teachers’ Retirement System, urging the agencies to stop investing funds in the six opioid manufacturers and distributors that his office is currently suing for helping fuel the state’s prescription drug abuse.
The attorney general has filed lawsuits against five drug makers and the Walgreens pharmacy chain for their role in the opioid epidemic. Based on a March 31st monthly report of pension investment holdings, Beshear says it appears that KRS investments in the six companies total nearly 38 million dollars. The same report shows that KTRS owns more than a million shares between the six companies.