This article appears on time.com.
This article is by Andrew Hewitt and appears on mirror.co.uk
CalSTRS, facing protests from schoolteachers, ruled out a quick sale Thursday of its investment in the manufacturer of the rifle used to massacre 26 students and teachers at a Connecticut elementary school in 2012.
Officials with the teachers’ pension fund acknowledged the protests at a CalSTRS board meeting and said they’re committed to unloading the investment. But the sale probably won’t happen “at the speed that some of us would like,” said CalSTRS board Chairman Harry Keiley.
The families of seven victims of the Sandy Hook massacre have written a letter to the California Federation of Teachers supporting its efforts to divest its pension fund of a company that makes guns:
We are some of the parents who lost a beloved child on December 14, 2012 at Sandy Hook Elementary School. We write to thank you and your fellow teachers for your efforts in pressuring the California State Teachers’ Retirement System to divest from Freedom Group – a company that distinguishes itself as the largest supplier of “civilian” combat rifles, including the weapon that made the historically fatal and tragic shooting at Sandy Hook possible. Your refusal to accept the use of teacher pension funds to enrich those who manifest gross disregard for the safety of our schools is moral and brave. Today, we add our voices to yours in calling for immediate divestment.
When a gunman slaughtered 26 children and adults at a Connecticut elementary school, California’s teacher pension fund responded with a forceful denunciation of gun violence and said it was rethinking its investment in the company that manufactured the firearm used in the shooting.
Amid a legislative push this year for California’s public pension systems to divest from coal, a new controversy is brewing over the California State Teachers’ Retirement System’s investment in a gunmaker tied to the Newtown school shooting.