Bill
SD 960
Overview: Bill Number: SD 960, Title: An Act requiring public pension fund divestment from ammunition and firearms, Status: House concurred, Introduced: February 27, 2025, Classifi
Overview: Bill Number: SD 960, Title: An Act requiring public pension fund divestment from ammunition and firearms, Status: House concurred, Introduced: February 27, 2025, Classification: proposed bill
Purpose and Intent: The primary goal of this bill is to mandate the divestment of public pension funds from companies that manufacture or sell ammunition and firearms. The rationale is to align public investment practices with the values of public safety and responsible gun ownership.
Key Provisions:
- Requires all public pension funds, including state and municipal retirement systems, to divest from any companies that derive more than 15% of their revenue from the production or sale of ammunition or firearms within 5 years.
- Prohibits public pension funds from making any new investments in such companies going forward.
- Establishes a process for identifying and monitoring affected companies, as well as reporting requirements for pension fund managers.
Affected Parties and Impacts:
- Public pension fund participants, including government employees, teachers, and other public workers, who may see changes in the composition of their retirement portfolios.
- Firearms and ammunition manufacturers and retailers, who could face reduced investment and market access.
- The general public, who may perceive this as a step towards addressing gun violence and promoting public safety.
Procedural and Timeline Considerations:
The bill has passed the House and is currently awaiting concurrence in the Senate. If approved, the divestment requirements would take effect within 5 years of the bill's enactment.
Compiled from official sources — confirm details with the bill’s official record.
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