Prohibits investment by State of pension and annuity funds in Chinese pharmaceutical companies.

New Jersey's S 884 prohibits state pension and annuity funds from investing in Chinese pharmaceutical companies or any company with significant business ties to them. The bill defines "Chinese pharmaceutical company" as entities with at least 51% ownership by China's government, state-run entities, or citizen-controlled civilian enterprises. Funds must divest from such investments within three years of the bill's effective date, with annual reports to the legislature tracking progress. The law also requires the State Investment Council to consult an independent research firm to guide divestment decisions while shielding officials from legal liability for compliance actions.