Arizona’s legislature has introduced a bill that would force the state to remove any funding for companies that support abortion for minors or expose minors to sexually explicit materials.
The bill is intended to remove direct funding and support for these companies, but some Democrats are worried it would also apply to state retirement investments.
Morgan Abraham said the state could be forced to divest from 75% of the S&P 500 currently in its retirement programs.
“As we all know, the key to a safe retirement is diversity,” he added. “We should not be forcing our retired teachers, our retired police officers, whoever is involved with this public retirement system to not have the ability to have a diversified portfolio, regardless of the values you have on the underlying issue.”
If Abraham is right that 75% of the S&P 500 is advocating these things for minors, maybe a lot more states need the same kind of bill to force businesses to rethink their decisions.
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