New Jersey’s public-worker pension fund continues to own a small stake in a company that manufacturers firearms, several years after Gov. Phil Murphy and lawmakers first raised concerns about public investments in the gun industry.
As of earlier this month, the pension fund owned shares worth an estimated $28 million in a company that, among other products, specializes in making custom sporting shotguns and rifles, according to the latest information provided by the Department of Treasury.
However, the overall $85 billion worker-pension fund has cut ties in recent years with a manufacturer of firearms ammunition, which had been its only other direct link to the firearms industry, Treasury officials confirmed.
Author(s): John Reitmeyer
Publication Date: 26 April 2021
Publication Site: NJ Spotlight News