Giant California teacher pension system targets gun sellers
WEST SACRAMENTO, Calif. (AP) — The world’s largest teacher-only pension fund is throwing its financial might behind an effort to impose California’s strict assault weapons restrictions on the rest of the nation.
The California State Teachers’ Retirement System’s Investment Committee voted Wednesday to lobby gun retailers to stop selling weapons and accessories like rapid-fire bump stocks that are banned in California.
The pension giant will try to unseat board members who resist and could dump its stock if those retailers still won’t conform.
Opponents say the pension system is setting a dangerous precedent.
The board acted as Democratic state lawmakers introduced legislation that would also require the nation’ largest public pension system to pressure retailers. The California Public Employees’ Retirement System resisted joining the effort in March.
Both already divested from assault weapon manufactures.