South Dakota Retirement System not invested in gun companies - KSFY News - Sioux Falls, SD News, Weather, Sports

South Dakota Retirement System not invested in gun companies

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PIERRE, S.D. (AP) - The South Dakota Retirement System has no investments in major gun manufacturers.

In the wake of the Connecticut elementary school shooting, some public retirement funds around the country began considering whether to get rid of investments in gun manufacturers.

But state Investment Officer Matt Clark says the South Dakota Retirement System owns no stock in major firearms companies.

Clark says the Retirement System, which now holds about $8.25 billion in assets, is managed to maximize benefits for its 75,000 members.

He says the Retirement System has no social standards for investments in companies operating in the United States, but instead leaves it up to society to determine what is legal and acceptable.

The Retirement System covers employees of state government, cities, counties and school districts.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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