S 1651

This bill requires Massachusetts to divest its state pension funds from companies involved in nuclear weapons production. Specifically, it mandates that the Pension Reserves Investment Management Board identify all direct and indirect holdings in companies that develop, test, produce, maintain, or trade nuclear weapons or nuclear weapon systems within 30 days, and then sell or withdraw all such investments within 12 months. The legislation establishes a permanent policy prohibiting future pension fund investments in nuclear weapon producers, though it provides some flexibility for indirect holdings in actively managed investment funds where the state would instead request that fund managers remove these companies from their portfolios. This divestment policy would affect the pooled investment fund that manages retirement assets for state employees, teachers, and local retirement systems under the board's control.