Page 14 - Public Employee Retirement Administration Commission News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Colin A. Young State House News Service
Dec 15, 2020
Dec 15, 2020
BOSTON — More than 80 local officials representing 34 cities and towns, including Salem, are asking Beacon Hill leaders to bring a bill to a vote in the next three weeks that would allow city and county retirement systems to divest from coal, oil and gas investments.
The Joint Committee on Public Service in February recommended legislation (H 4440) that would give independent retirement systems the right to divest in whole or in part from any investment in fossil fuel companies. In a press release, MassDivest said that Somerville s Retirement Board planned to divest $9.5 million in pension funds from fossil fuels in 2017, but was blocked by the Public Employee Retirement Administration Commission as a violation of fiduciary duty by constraining its investment options. ....

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