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Bill would ban pension funds from investing in gun manufacturers

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Sen. Vin Gopal, D--11th District.
Sen. Vin Gopal, D--11th District. - ()

State Sen. Vin Gopal, D –11th District, plans to introduce a bill barring New Jersey public employee pension funds or annuities from investing in gun manufacturer companies.

State Sen. Vin Gopal, D –11th District, plans to introduce a bill barring New Jersey public employee pension funds or annuities from investing in gun manufacturer companies.

Assemblyman Eric Houghtalin, D-11th District, and Assemblywoman Joan Downey, D-11 District, will co-sponsor similar legislation at the assembly’s next quorum.

“We cannot stand by and let gun manufacturers that profit by producing weapons benefit from the investment of our pension funds,” Gopal said in a news release. “With this bill we are sending a message that New Jersey is making a conscious decision about the type of companies the state should invest in.”

The bill also would require the State Investment Council and the director of the Division of Investments to submit an initial report on its prohibited investments and to submit annual reports on its progress towards compliance with the prohibition.

“The pension funds from public employees should not in any way serve to help these firearms companies become richer at the expense of the lives of many innocent people who are being murdered with firearms throughout the country,” Houghtalin said.

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Mario Marroquin

Mario Marroquin


Mario Marroquin covers real estate. A native of El Salvador, Mario is bilingual in English and Spanish. He graduated from Penn State University and worked in Pennsylvania before moving to New Jersey. His email is mariom@njbiz.com.

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