Posted Online: Jan. 17, 2013, 9:00 am
Chicago teachers' pension mulls gun investments
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SPRINGFIELD, Ill. (AP) — The Chicago Teachers' Pension Fund board plans to vote tomorrow on whether to divest itself of holdings in firearms manufacturers.
Investments Director Carmen Heredia-Lopez says the fund's $9.5 billion portfolio includes about $146,000 invested in Sturm Ruger & Co. and Smith & Wesson Holding Corp.
The Teachers' Retirement System of Illinois, which covers teachers outside Chicago, conducted a similar review that shows $77,000 invested in three gun makers out of a $38 billion portfolio.
Spokesman Dave Urbanek says TRS will provide the data to board members as information and not with a staff recommendation.
The California teachers' retirement fund voted to cut off gun-company investments after 20 schoolchildren were killed in a mass shooting in Connecticut last month.
Chicago Teachers' Pension Fund: http://www.ctpf.org
Teachers' Retirement System: http://www.trs.illinois.gov