A RESOLUTION
Whereas: the contributions to PERA from its members and affiliated employers are commingled with the investment returns in the PERA trust fund for the good of the membership; and
Whereas: these funds are not the property of the State of Colorado or any subdivision but held in trust for the PERA members and beneficiaries; and
Whereas: there are significant costs associated with divestment, including transaction costs of selling and purchasing shares, costs associated with researching replacement investments, and the potential cost of reduced investment returns; and
Whereas: a small percentage of a company’s global operation could require divestment; and
Whereas: investing for social and political reasons violates sound investment policy; and
Whereas: PERA trustees have a legal mandate to invest contributions solely for the benefit of its members and beneficiaries;
Be It Known That: Coloradans for Public Employee Retirement Security, doing business as Friends of PERA, resolves to oppose any divestment mandate imposed upon PERA.
Approved by the Board of Directors of the Coloradans for Public Employee Retirement Security on October 25, 2007.
