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Administration April 9, 2010
MO House Okays Terror Investment Ban
April 9, 2010 (PLANSPONSOR.com) – The Missouri House has given preliminary approval to a bill that would ban state retirement plans, including the Missouri State Employees Retirement System (MOSERS), from investments in companies linked to Iran, Sudan, Syria, and North Korea.
Reported by Fred Schneyer
The legislation would require investment managers for state retirement funds to show twice a year that the state has not invested in companies that do business with countries that sponsor terrorism, according to a news report from the Missourian.
The terrorism legislation passed Thursday by a 145 to 0 vote, but requires a second consideration before moving to the state Senate, the Associated Press said.
Supporters say Missouri needs to insure state pension fund investments cannot help terrorism.
Last month it was reported that state Representative Jason Smith was working on a bill that would prohibit state pension systems from investing in companies tied to terrorism (New MO Bill Requires Terrorism Divestment).