Should Pennsylvania follow California, Philadelphia and other communities where leaders want to dump gun-related stocks after the Newtown, Conn. school massacre?
The $25 billion State Employees' Retirement System says its exposure to gunmakers is "de minimis" so it doesn't need to do anything.
Says spokeswoman Heather Tyler: "SERS has conducted research into our portfolio to look for exposure to known gun-related investments... We identified less than $2 million (of a $25.2 billion portfolio). Here is what we found:
• Cerberus Capital Management – $1.9 million exposed to Freedom Group (private equity)
• Sturm, Ruger & Co. – none apparent (publicly traded)
• Smith & Wesson Holding Corp. – none apparent (publicly traded)
• New Enterprise Associates 11 – $25 thousand exposed to MidOcean Partners II (we understand to have an ownership stake in Bushnell Outdoor Products) – (private equity)
• Sciens Capital (we understand to have an ownership stake in Colt Defense) – none apparent (private equity)
• Olin Corp (we understand that they manufacture Winchester ammunition)– none apparent (publicly traded)
"Of our total, $1.9 million is with Cerberus and will soon be liquidated." (Cerberus said after the massacre it plans to dump its Freedom shares.) "After Cerberus completes its sale, our exposure will be de minimus – thus, we have no plans to actively divest."

SERS isn't considering whether it's reviewing its holdings in Wal-Mart, Cabela's, Dick's Sporting Goods and other firms that retail guns and ammo.