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

This bill prohibits New Jersey's public pension and annuity funds (like retirement accounts for state employees) from investing in companies that manufacture or wholesale tobacco products. It requires the state to divest all existing investments in such tobacco companies within three years of the bill's effective date. The bill also mandates regular reports to the legislature detailing the divestment progress and analyzing the financial impact on pension funds. These provisions directly affect state retirement fund managers and tobacco industry companies.