CREF Participants Again Reject Tobacco, Gun-Control Resolutions

November 13, 2001 ( - Participants in the College Retirement Equities Fund (CREF), rejected resolutions urging CREF to divest its holdings in tobacco investments and in companies that publicly support gun control.

At CREF’s annual meeting Tuesday in New York City, the tobacco and gun-control resolutions were defeated in votes of 70.18% to 24.63% (5.19% abstaining), and 84.36% to 12.18% (3.46% abstaining).

This marks the eighth consecutive year the tobacco resolution or ones similar to it were defeated, and marks the second consecutive defeat for the gun-control resolution. 

CREF is the $127 billion investment company of the $260 billion TIAA-CREF pension system.