New Jersey S260 prohibits state pension and annuity funds from investing in tobacco product manufacturers or distributors.
New Jersey S260 prohibits the state from investing pension and annuity funds in companies that manufacture or distribute tobacco products. The bill mandates the divestment of existing investments within three years. It requires the Director of the Division of Investment to report to the Legislature on the progress of divesting these assets and the fiscal impact on affected funds. The aim is to prevent public pension funds from supporting the tobacco industry.
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- Implementation
- Impact
- Legal Framework
- Critical Issues
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