New York Employees Offered Socially-Responsible Account
September 27, 1999
The City of New York's 457 deferred compensation plan, which has $250 million in assets under management, in November will begin offering employees a separate account managed by Citizens Advisers of Portsmouth, N.H. Citizens is the investment adviser to the socially- and environmentally- responsible Citizens Funds.
The separately-managed account will mirror Citizens' proprietary index of 300 socially- and environmentally-responsible companies. The index eliminates alcohol, tobacco, oil and defense companies and includes many stocks in telecommunications, technology and finance firms.