INDIANAPOLIS, Ind. (WOWO) — The Indiana Deferred Compensation Committee has approved a new international investment option for the $2.6 billion Hoosier START retirement plan that does not include investments in China or Hong Kong.

State Comptroller Elise Nieshalla, who chairs the committee, announced the change Friday.

The new Fidelity Institutional Asset Management Diversified International ex-China Class D replaced the Fidelity Diversified International Pool Class C at the end of July.

The new option maintains the same investment strategy and 0.52% fee as the previous fund, according to Nieshalla’s office.

Nieshalla said the change is intended to reduce exposure to what she described as high-risk foreign markets while maintaining an internationally diversified investment option for state employees and retirees.

The committee also voted this week to begin a public search for an international target-date fund option that excludes China.

The changes are part of several recent adjustments to the Hoosier START plan. Those include removing an investment option because of its exposure to China, ending third-party ESG-based proxy voting on target-date funds and updating the plan’s investment policy to prioritize financial factors.

Nieshalla’s office also highlighted a 12.5% reduction in record-keeping fees for Hoosier START participants following a renegotiated contract with the plan’s recordkeeper, Nationwide.

Another change approved by state lawmakers will increase the state match for Hoosier START contributions. Beginning in summer 2027, the match could increase from up to $15 per paycheck to up to $28 per paycheck, pending annual approval from the State Budget Committee.

The Hoosier START plan is Indiana’s deferred compensation program for state employees and other eligible participants.

More information about the plan is available at Hoosier START.