The memorandum to the Board of Trustees of the Employees Retirement System expresses concern about the second deferral of a decision to set a time limit for divestment. The memorandum says members of the Legislature are very concerned about the lack of a deadline in the Board's policy; this has resulted in HB 2574, mandating that divestment be completed by July 1, 1992. This bill easily passed the Committee on Labor and Public Employment; a hearing by the House Finance Committee currently is pending. Because of the Board's delay, the legislature wants to impose a shorter time period. The Board's continued deferral of this decision reinforces public perception of delaying tactics.
