California Employees Pension Fund Fund Not Divesting From Gun Retailers Just Yet

SACRAMENTO, Calif. (AP) - The nation's largest public pension fund won't immediately divest from companies that sell assault weapons.

The California Public Employees' Retirement System Board said Monday it will do an in-depth review next year of its investment policies regarding gun makers and sellers. The fund has already stopped investing in assault weapon manufacturers.

State Treasurer John Chiang was pushing the board to take up a divestment vote next month. But some board members say remaining an investor gives the board influence over company policy.

Four of the five gun retailers the pension fund says it invests in have already decided to stop selling assault weapons.