S 1703

This bill requires Massachusetts to divest its state pension funds from companies involved in nuclear weapons production within 12 months of enactment. Specifically, it directs the Pension Reserves Investment Management Board to identify all direct and indirect holdings in companies that develop, test, produce, maintain, or trade nuclear weapons or nuclear weapon systems, and to sell or withdraw these investments. The legislation establishes a formal policy prohibiting future pension fund investments in nuclear weapon producers, though it exempts indirect holdings in actively managed investment funds (requiring only that fund managers be notified and requested to remove such companies). This divestment mandate would affect the pooled investment fund that manages retirement assets for state employees, teachers, and local retirement systems under the board's control.