New York City’s police pension won’t sell about $10 million in gun-related holdings, the president of the biggest officer union says. The decision by the $26.8 billion fund contrasts with those of New York City’s teacher pension and other public funds divesting or considering it after the massacre of 20 children at a Newtown, Connecticut, elementary school last year.
“While the social impact of pension investments can be a consideration, there is no evidence that the manufacturers of these weapons that are the tools of the trade for law enforcement have done anything improper,” says Patrick Lynch, president of the Patrolman’s Benevolent Association. The pension board’s primary responsibility is to make sound investments, he said in a statement.
