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Rockledge pension Investment Policy Statement revised to bar investments in companies that boycott Israel
Summary
Trustees updated the Investment Policy Statement to add a paragraph prohibiting investments in companies that boycott Israel, citing recent state legislation; managers will be notified twice annually about off‑limits companies.
The Board’s investment consultant reviewed a proposed change to the Investment Policy Statement (IPS) to incorporate a prohibition on investments in companies that boycott Israel. The consultant told trustees the revision expands the plan’s existing "scrutinized company list" (previously focused on Sudan and Iran) to include a newly established anti‑boycott‑Israel list; investment managers will be notified twice a year of companies that are off‑limits under the policy.
All three boards moved and approved the IPS update as presented (motions recorded for General, Fire and Police boards). The change was described in the minutes as a compliance measure responding to recent state legislation; administrators were directed to provide copies of the revised IPS to the plan sponsor for records.
