PERA's January 2019 Statement on Divestment
In 2018, the PERA Board spent nine months considering the topic of divestment and seeking input from fiduciary counsel, investment consultants, and PERA staff, as well as hearing from members and retirees. At the January 2019 Board of Trustees Meeting, the Trustees adopted a Statement on Divestment.
This policy concludes:
“The issues facing our world today are not easily separated into gradations of severity or importance. Consensus as to the priority of these types of issues and the proper recourse is difficult to achieve. As a result, once a divestment mandate is imposed to address one issue, the resulting “slippery slope” makes differentiation among the remaining issues contentious and divisive. Increased divestment is costly and limits PERA’s ability to effectively seek the best risk-adjusted returns to secure the retirement benefits of public servants. For these reasons, PERA will oppose divestment efforts unless such opposition is inconsistent with its fiduciary duty, but will implement divestment mandates passed by the Colorado General Assembly.”
To read PERA’s January 2019 Statement on Divestment, click here.