Pittsburgh Mayor Wants Pension Fund To Divest Of Gun Stocks

By Tom Knighton

AP Photo/Matt Rourke

The purpose of a pension fund is to, ultimately, invest money so that retirees have sufficient funds to enjoy the rest of their days. They’re not supposed to be political arms or used to try and exert financial pressure on certain industries.

It seems that no one told Pittsburgh’s anti-gun mayor about that part.

In a letter dated May 31, Peduto asked the Board Members of the Comprehensive Municipal Pension Trust fund to divest from firearms and ammunitions companies in the city’s investment fund valued at about $463 million.

America’s First Freedom has documented efforts by politicians and companies to erode Second Amendment rights by exerting financial pressure on pensions and institutional investments. At the same time, city mayors continue to advocate anti-gun political opinions by enforcing ordinances targeting law-abiding gun owners and their businesses. Peduto is a notable figure in the movement.

A recent study by the Center for Retirement Research at Boston College suggests “social investing” may not be beneficial overall to the health of public pension funds, as Peduto has requested of the pension trust board to consider doing. Pittsburgh …Read the Rest

Source:: Bearing Arms