HI SB2155

Requires the Employees' Retirement System (ERS) to divest from all coal, oil, and gas companies by identifying them through Global Industry Classification Standard codes in three sectors: coal and consumable fuels, integrated oil and gas, and oil and gas exploration and production.

Mandates a five-year divestment schedule with increasing percentages: 20% by July 1, 2017; 40% by July 1, 2018; 60% by July 1, 2019; 80% by July 1, 2020; and 100% by July 1, 2021.

Prohibits ERS from acquiring new securities in scrutinized companies while allowing limited exceptions for indirect holdings in actively managed investment funds where ERS must request managers remove such companies or create alternative funds.

Requires ERS to report the scrutinized companies list to the legislature within 90 days of creation and annually thereafter, including investments sold and progress made toward divestment goals.

Allows ERS to cease divestment and reinvest in these companies only if portfolio value drops to 99.50% or less of what it would be without divestment, with written reports to the legislature required for any such action.