S 1595

This bill prohibits New Jersey's state pension and annuity funds from investing in companies involved in the production or maintenance of nuclear weapons, including their subsidiaries, affiliates, or parent companies. The legislation requires the State Investment Council and Director of the Division of Investment to divest from any such holdings within two years of the bill's effective date, while adhering to sound investment criteria and fiduciary obligations. The bill also mandates annual reporting on divestment progress and provides legal indemnification for state officials implementing these investment restrictions, ensuring they are protected from liability for decisions made in compliance with the divestment requirements.