By Bob Katzen
This bill would require the state’s Pension Reserve Investment Management (PRIM) fund to divest state funds from companies that derive more than 15 percent of revenues from the sale or manufacturing of ammunition, firearms or firearm accessories used for civilian, non-military, non-police purposes. PRIM handles and pays retirement benefits to state employees and teachers.
“When the treasurer’s Office brought this bill to me for consideration, I thought it was important legislation for Massachusetts to reflect its values with its investments,” said sponsor Rep. Jay Livingston (D-Boston).
“Massachusetts has enacted some of the strictest gun laws in the United States and has one of the lowest rates of gun violence as a result. The divestment proposed in this legislation would generate awareness of the dangers of firearms and send a clear message to gun violence victims and survivors everywhere that we stand with them by divesting from these firearm companies that have failed to demonstrate a willingness to engage with shareholders and address the safety of their products.”