TALLAHASSEE, Fla. - Trustees of the Florida State Board of Administration, with $62 billion in assets, voted 2-1 to unload all tobacco stocks, confirmed Pat Smith, a senior cabinet aide to state Comptroller Robert Milligan, who cast the dissenting vote.
Gov. Lawton Chiles and Treasurer Bill Nelson voted for divestment.
The pension fund has approximately $824 million in tobacco stocks.
The fund has been given broad discretion to sell the stocks over an extended period of time.