Prohibits State from investing pension and annuity funds in manufacturers or wholesale distributors of tobacco products.

This bill prohibits New Jersey's state pension and annuity funds (managed by the Division of Investment) from investing in companies that manufacture or wholesale tobacco products. It requires the state to divest all existing investments in such tobacco-related companies within three years of the bill's effective date. The bill also mandates that the Division of Investment submit annual reports to the legislature detailing progress on divestment and analyzing the fiscal impact on pension funds. This directly affects public retirement systems, including state employee pensions, by restricting their investment options.