Harrisburg – February 22, 2018 – State Sen. Jay Costa (D-Allegheny) released the following statement divesting state funds from companies that produce assault weapons:

“Following the recent and tragic school shooting in Parkland, I was mortified to learn that the Florida teachers’ retirement fund invests in the manufacturers of assault weapons. Assault weapons are incongruous with the values of our state and its schools – and I’m working to ensure that Pennsylvania makes no similar investments.

Money is the universal language, and it’s time that we send a message to those who profit from the creation and sale of assault weapons.

The first step I’ve taken is a letter to the Public School Employees’ Retirement System (PSERS), the State Employees’ Retirement System (SERS), and the Pennsylvania Municipal Retirement System (PMRS) asking for a thorough review of all of their investments to conclude whether any such investments have been made.

I hope this review finds that public dollars have not been used to fund weapon manufacturers, but either way, I will be introducing legislation to bar such investments moving forward. I am currently drafting a bill that would amend the existing Protecting Pennsylvania’s Investment Act (Act 44 of 2010) by adding a new investment prohibition – companies that manufacture assault weapons and large capacity ammunition feeding devices.”

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