Retirement Subcommittee Deliberates Over the Future of Guns in City Retirement Investments

The Retirement Subcommittee of the Chapter Presidents Advisory Council (CPAC) was formed to monitor the San Francisco Employee Retirement Fund (SFERS) and advocate for action on retirement issues important to Local 21 members. The Committee meets monthly to discuss SFERS investments, SFERS board actions, and make recommendations regarding retirement issues to the SF Council, if necessary.


One of the issues discussed at the July 8 meeting was Supervisor Mark Farrell’s resolution to call on the Retirement Board to divest its investments in three companies that manufacture firearms and ammunition.  The resolution was passed unanimously by the Board of Supervisors.  A similar resolution was passed in 2013 after the mass shooting at Sandy Hook Elementary School, but the Retirement Board took no action at that time. The reintroduction of a divestment resolution came after the recent mass shooting in Orlando, with proponents arguing that the San Francisco pension system should not be receiving returns from investments that flow from manufacturing guns and ammunition that are marketed for consumer use. Local 21’s CPAC Retirement Committee is currently reviewing the matter to see if a Local 21 position is necessary and to determine if the resolution is consistent with the current SFERS ESG Policy. 

 If you would like more information, would like to express thoughts or concerns, or would like information about serving on the Retirement Committee, please contact Amihan Makayan at View the proposed resolution here.

Read the supporting document presented to the Board on the July 13 meeting here.