Mass. lawmakers push to divest state funds from gun industry

By Daniel Terrill

Massachusetts treasurer supported state lawmakers in filing a bill to divest the state’s public pension fund from companies that earn through firearm and ammunition sales.
The measure would ensure state money managers — the Pension Reserves Investment Management Board — sell, redeem, divest or withdraw funds invested in companies that generate 15 percent or more in revenue from the sale of guns, gun accessories or ammo.
In a statement, state Treasurer Deb Goldberg described the measure as Massachusetts’ lawmakers standing with gun violence victims and survivors rather than the gun industry.
“In the aftermath of the horrific shooting in Parkland, Florida, I watched as those brave students from Stoneman Douglas High School stood in the balcony watching while the Florida Legislature did nothing,” Goldberg said. “It is clear that traditional approaches have not worked.”
But the bill is a largely symbolic gesture. The pension currently contains $72 billion, but managers would only divest about $5 million — not even 1 percent of 1 percent of the fund — from six companies under the proposed changes. However, divestment could be prevented if it costs the pension 0.5 percent, or about $360 million.
State lawmakers, Rep. Lori Ehrlich and Sen. Cynthia Stone Creem, both Democrats, filed a

Source: Guns.com