Cali. pension fund faces pressure to divest from guns
Sacramento, Calif. – California State Treasurer John Chiang is calling on the nation’s largest public pension fund to stop investing in companies that sell assault-style weapons and devices that allow guns to fire more rapidly.
Chiang will speak Monday at a board meeting of the California Public Employees’ Retirement System alongside family members of victims of the 2015 terror attack in San Bernardino, California, that killed 14 people.
The wife of a high school teacher who died in Parkland, Florida, sent a letter supporting Chiang’s effort. Chiang, a Democrat, is running for governor.
CalPERS has a combined roughly $850 in million holdings in five companies that sell such guns or devices: Dick’s Sporting Goods, Walmart, Kroger, Big 5 Sporting Goods and Sportsman’s Warehouse Holdings. The fund’s total value is $354 billion.