News Release: Treasurer Neely on Assault Weapons and Pension Investments
January 14, 2013
As the City Treasurer and a Trustee on five City Pension Boards, I fully support the Mayor’s call for a comprehensive review of our pension investments. Guns, and especially assault weapons, have taken a terrible toll on our residents and on our city resources. We are losing too many lives and spending millions on emergency medical aid for victims. The monies we spend on law enforcement, courts, and jails could be better used to bolster education and infrastructure.
I hope that the Mayor’s comprehensive review will be more than a cursory investment “pat down.” I would like to see what impact a divestment could have on our already strained pension funds. I also think it’s important to investigate what a mass divestiture would do to our national defense capabilities. Those of us entrusted with managing these pension funds must make sure they are managed in an ethical and fiscally responsible manner, and a clear picture of all of the details will guide us to the best possible decision.
Stephanie D. Neely
Treasurer, City of Chicago