A coalition of more than 20 organizations, led by Campaign to Unload and States United to Prevent Gun Violence, has launched a campaign to wipe out gun manufacturers from 401(k) portfolios.
Unloadyour401k.com was launched Wednesday. It represents a new tool and new tactic in the country’s strident debate over gun control and gun violence: individuals divesting the nation’s biggest gun manufacturers from their 401(k) retirement plans.
The campaign targets Sturm Ruger (RGR), Smith & Wesson (SWHC), and Olin (OLN). When combined, nearly half of the value of these three companies is held in individuals’ mutual funds.
The website offers a number of facts. Among them: Nearly $2 billion mutual fund dollars are invested in the nation’s three largest gun manufactures, and more than 1.4 million gun deaths and injuries have occurred since the Columbine shooting in suburban Denver.
The website allows individuals to search for their 401(k) provider to find out whether any of the gun manufacturers are held in a given retirement plan.