NJ S1628

Prohibits New Jersey's Division of Investment from investing any State pension or annuity fund assets in companies involved in the production or maintenance of nuclear weapons, including their subsidiaries, affiliates, or parent companies

Requires divestment from all such prohibited investments by January 1 of the second year following the bill's effective date, whether held directly or through separate accounts or commingled funds

Mandates the State Investment Council and Division Director submit an initial report identifying affected companies within 120 days, followed by annual reports on February 1 detailing divestment progress and remaining prohibited holdings

Provides indemnification for State Investment Council members and State officers/employees against all claims, damages, and legal costs arising from investment decisions made pursuant to this act

Includes a safeguard provision ensuring the law does not require premature or imprudent sale of investments that would conflict with fiduciary obligations