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LA City Council wants more info on pension investments in gun businesses



The Los Angeles City Council is still gathering numbers on how much of the city's pensions funds are invested in gun companies.
The Los Angeles City Council is still gathering numbers on how much of the city's pensions funds are invested in gun companies.
Joshua Lott /Reuters /Landov

The L.A. City Council asked for more information Friday on how much employees' pension funds may be invested with gun and ammunition companies. 

After the mass school shooting in Newton, Connecticut,  elected officials requested the information, but months have gone by and the city council is still looking for answers.

A report from the Los Angeles City Employees Retirement System found about $158 million with companies that manufacture and sell guns and ammunition. The largest piece of that — $151 million — is  invested in retailers such as Wal-Mart and Kroger. Another $6.7 million is with ammunition companies and $240,915 is with gun and magazine manufacturers. 

It is unknown how much money the pension funds for police officers, firefighters and utility workers has invested in similar companies.

Per the request of Councilwoman Jan Perry, the issue was sent back to the Budget and Finance Committee for further study.