Sonora, CA — The board of directors for CALSTRS made a decision about its investments.
CALSTRS is the state retirement system for teachers and educators. The Associated Press reports that CALSTRS Board of Directors voted unanimously yesterday to no longer invest in companies that make firearms or ammunition that are illegal to purchase in the State of California. This includes assault rifles and high capacity magazines. Companies that are impacted by the decision include Freedom Group, Smith & Wesson, and Sturm, Ruger & Co. CALSTRS has an estimated $11.7 million invested in the companies.
The decision comes at a time when there is a renewed national debate over gun laws, following the high profile shootings in Connecticut and Colorado.