November 24, 2000
Pension Fund Again Declines to Drop Tobacco Stocks
CREF investors again refuse to kick the habit.
Participants in the College Retirement Equities Fund last week voted for the seventh straight year to continue investing in tobacco stocks. A resolution for the pension fund to dump the stocks was defeated by a vote of 73.7 percent to 21.1 percent, with 5.2 percent abstaining.
The results of the proxy vote were announced at the CREF annual meeting in New York.
CREF is the $176-billion
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