Big Teachers’ Fund to Sell Its Gun Shares

1/10/2013

One of America’s largest pension funds began on Wednesday to divest itself of firearms holdings, a response to the schoolhouse shooting in Newtown, Conn., that other pension funds could follow.

The California State Teachers Retirement System, known as Calstrs, voted unanimously to begin its formal divestment process. The vote occurred at a public meeting where teachers said they did not want their retirement nest eggs placed with companies like the Freedom Group, the maker of the Bushmaster semiautomatic rifle that authorities say Adam Lanza used to kill 20 first graders and six adults at the Sandy Hook elementary school on Dec. 14.

“This latest incident, which occurred at a school and involved fellow educators and the children we cherish, is a tipping point for Calstrs,” said Harry Keiley, chairman of the fund’s investment committee.

Read more: http://www.nytimes.com/2013/01/10/business/california-teachers-fund-to-divest-of-gun-stock.html?_r=0


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