MOSERS approves investment-screening policy

The multi-level screening process is intended to keep the state’s public pension funds from being invested in companies tied to terrorists.

A Missouri policy prohibits investments into companies on a list provided by the Office of Foreign Assets Control, but the list does not include publicly traded companies in which states invest, according to State Treasurer Sarah Steelman in a news release. The screening process will close that loophole.

Also at the meeting, the board decided on two private vendors that will analyze international companies that are screened for terrorist links.

Conflict Security Advisory Group will focus on companies involved in government projects in nations sanctioned by the U.S. government as state sponsors of terrorism. The cost to the state for CSAG services is expected to be about $15,000.

Regulatory Data Corp International will research allegations of sponsorship of terrorism directly. The cost of RDCI services is estimated at $10,000.

The screenings require immediate divestment of any investments that the process determines are linked to terrorists.

The Missouri State Employee Retirement System invests more than $6 billion in funds belonging to current and retired state workers.