SD 1234

This bill requires Massachusetts to divest its state pension funds from companies involved in nuclear weapons production within 12 months of enactment. The legislation 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. While the divestment requirement applies to all directly held securities, the bill provides an exception for indirect holdings in actively managed investment funds, though it requires the pension board to request that fund managers remove nuclear weapons producers from their portfolios or create alternative funds without such investments.