Staff
The New York City Employees’ Retirement System (NYCERS) has sold all of its shares in publicly traded gun and ammunition manufacturers following recent tragedies, such as last year’s school shooting in Connecticut.
“Our city’s employees do not want their pension dollars supporting companies whose products tear apart families and shatter communities,” says city comptroller John Liu.
The California Public Employees’ Retirement System, the California State Teachers’ Retirement System and Teachers’ Retirement System of the City of New York have all divested their firearms stocks.
NYCERS is one of the largest pension funds in the United States with US$45.7 billion in assets.
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