The State Worker

Chronicling civil-service life for California state workers

February 19, 2013
California treasurer proposing CalPERS dump gun holdings

Thumbnail image for 090522 Lockyer before Leg_Amezcua.jpgState Treasurer Bill Lockyer plans to ask the CalPERS' board today to purge the fund's investments in two companies that make firearms that are illegal in California.

If the board agrees to Lockyer's motion, the nation's biggest public employees' retirement system would divest of a total $5 million invested in Smith & Wesson and Sturm, Ruger.

Last month Lockyer made a similar proposal to the California teachers' retirement system, the second-largest U.S. public pension fund after reports that the fund had a stake in the manufacturer of the rifle used in the Sandy Hook Elementary School massacre.

Here's the text of Lockyer's motion to the CalPERS board:

Gun Divestment CalPERS Motion by

PHOTO: California State Treasurer Bill Lockyer speaks during a 2009 legislative hearing at the Capitol. / Hector Amezcua, Sacramento Bee

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About The State Worker

Jon Ortiz The Author

Jon Ortiz launched The State Worker blog and a companion column in 2008 to cover state government from the perspective of California government employees. Every day he filters the news through a single question: "What does this mean for state workers?" Join Ortiz for updates and debate on state pay, benefits, pensions, contracts and jobs. Contact him at (916) 321-1043 and at jortiz@sacbee.com.

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