the California Public Divest from Iran Act which prohibits CalPERS and CalSTRS from investing public employee retirement funds in a company with business operations in Iran. CalPERS, the state’s employee retirement fund, is the largest pension fund in the nation and CalSTRS, the state’s public education retirement fund, is the second largest pension fund in the nation.
http://gov.ca.gov/index.php?/press-release/7710/
Burkle, Clinton, and friends will not be happy ?
Governor Arnold Schwarzenegger today signed AB 221 by Assemblymember Joel Anderson (R-El Cajon) which prohibits the state’s pension funds from investing in companies with active business in Iran.
A very good move.