HISTORY: CalPERS’ Stance on CA Legislative Actions on Pension Divestments
The California Public Employees’ Retirement System (CalPERS) investment committee voted 11 to 1 to approve the investment staff’s recommendation on SB 185. CalPERS’ investment staff recommended to the committee that they take no official position on state legislation which calls on both pensions including CalSTRS to divest from coal companies.
California Senate President Pro Tem Kevin De León introduced legislation SB 185 called the Public Divestiture of Thermal Coal Companies Act. The bill would prohibit the boards of the Public Employees’ Retirement System and the State Teachers’ Retirement System from making new investments or renewing existing investments of public employee retirement funds in a thermal coal company.
California Legislative History on Pension Divestments
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