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

This bill (A3915) prohibits New Jersey's public pension and annuity funds from investing in tobacco manufacturers or wholesale distributors. It requires the state to sell all existing investments in such companies within 36 months of the law's effective date. The state must also submit annual reports to the legislature detailing divestment progress and the financial impact on pension funds. These provisions apply specifically to funds managed by the Division of Investment under the Department of the Treasury.