Prohibits investment by State of pension and annuity funds in companies engaging in government contracts or business operations infringing on data privacy of individuals for purpose of determining immigration status.

New Jersey's S 4882 prohibits state pension and annuity funds from investing in companies that collect or manipulate personal data for immigration status checks without a warrant or court order. The bill targets firms engaged in government contracts or business operations violating data privacy for immigration purposes, directly affecting the state's $100+ billion retirement funds. It requires the State Investment Council to identify such companies using an independent privacy firm, then divest funds by January 1 of the second year after the bill takes effect. Annual reports must track divestment progress and list companies still holding prohibited investments, while protecting officials from legal liability for compliance actions.