NH Pension Plan for Judges Sues over Divestment Law

October 8, 2008 (PLANSPONSOR.com) - The Associated Press reports the retirement plan for New Hampshire judges has asked a Superior Court judge to decide the constitutionality of a law ordering it to sell its holdings in companies doing business in the Sudan.

The New Hampshire Judicial Retirement Plan considered legal action after Governor John Lynch refused to veto the measure (See NH Funds Consider Suing Governor over Sudan Divestment Mandate ). The plan filed its suit in Concord last week, according to the AP.

In September, the New Hampshire Retirement System (NHRS) board voted unanimously to ask the state Supreme Court if the Legislature has the legal authority to order it to divest of holdings related to the Sudan (See NH Pension Board Opts for Divestment Law Constitutional Challenge). It is considering joining the judicial plan’s suit.

The divestment measure was signed into law by Lynch in July (See NH Retirement Systems Must Divest Sudan-related Holdings ).