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Gun builders and IL pension systems linked

Wed, 16 Jan 2013 15:28:17 CST
By: AP

Two major Illinois pension systems covering public school teachers have small holdings in firearms manufacturers. Teachers' Retirement System spokesman Dave Urbanek says the pension fund's $38 billion portfolio includes about $77,000 invested in three gun manufacturers: Sturm Ruger, Smith & Wesson and Olin Corp. But those companies are among 2,500 that are part of an index fund in which TRS has invested $82 million. Urbanek points out individual companies cannot be extricated from an index fund strategy. TRS and other pension programs nationally began reviews last month after the Connecticut school massacre. An official says the $9.5 billion portfolio of the Chicago Teachers' Pension Fund includes $276,000 in Sturm Ruger, Smith & Wesson and Battenfeld Technologies holdings.

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