#CalPERs divestment policies hurt taxpayers and pensioners

The politicization of state pension fund investments has once again come back to bite us — this time in coal stocks — harming taxpayers and government employees alike.

This is just the latest example of politically motivated divestment policies, which have also targeted tobacco companies, firearms manufacturers, private prison operators, companies that might compete with state and local government workers for contracts, and companies that did business with apartheid South Africa.

It has gotten to the point that a number of unions, who typically support the Democratic lawmakers that push for such divestment policies, have begun to speak up about the perils of ideological investing.

Playing politics with government workers’ and retirees’ pension funds does not serve them or the rest of the taxpayers in the state.

Source: State pension fund divestment policies leave Californians another day older and deeper in debt – Orange County Register


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