Synopsis As Introduced Amends the General Provisions Article of the Illinois Pension Code. Requires each of the 5 State-funded retirement systems (or the Illinois State Board of Investment where applicable) to make its best efforts to identify all firearm manufacturing companies in which it has direct or indirect holdings and, under certain circumstances, to divest itself of holdings in those companies.
The Illinois State Board of Investment reports a base market value of $2.5 million in holdings in firearms/ammunition manufacturing companies across five index funds. SURS reports holdings of approximately $122 thousand in firearms manufacturers through passively-managed index funds. TRS did not provide a dollar amount, but they reported that an "extremely small" amount of their trust fund is invested in passively-managed index funds that invest in firearms manufacturers.