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Political Road Map: Trump and gun investments spark debate for California pension funds

Political Road Map: Trump and gun investments spark debate for California pension funds

For more than three decades, California’s vast pension funds have routinely been urged to make investment decisions by applying a simple four-word mantra: Do the right thing.

When 12 of the state’s congressional Democrats recently asked pension officials to take action, they argued that the right thing also is the legal thing to do. They insisted that an investment by the California Public Employees’ Retirement System, CalPERS, is helping President Trump break the law.

That investment is “jeopardizing the funds of your members and enabling a culture of corruption that threatens the very core of our democracy,” they wrote in an Oct. 30 letter concerning one of the pension...

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