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Sounds like a mistake, given other states have already seen reduced investment returns. And, this:
“ An updated fiscal analysis for House Bill 1008 shows over the next decade, it could plunge investment returns on defined-benefit funds by $6.4 billion, and defined-contribution funds by $300 million.
That drop in returns would cut INPRS’ estimated annual return on investment from 6.25% to 5.05%. Indiana and communities with current and former employees in defined-benefit funds could have to pay higher contributions beginning in 2025, according to the analysis.”
https://indianacapitalchronicle.com/2023/02/06/anti-esg-pension-bill-could-drop-state-pension-returns-6-7-billion-in-next-decade/