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New Jersey Governor Receives Iranian Divestment Bill

[New Jersey Jewish Standard] Josh Lipowsky - New Jersey is slated to become the first state in the country to divest its pension funds from Iranian-linked companies if the governor signs legislation that passed out of the state legislature last week. As the result of a law passed last year, the state divested $2.16 billion from 17 companies linked to Sudan. New Jersey's state pension fund is worth about $80 billion, making it the ninth largest in the country. "The passage of this legislation would [mean] that we can't put any of these large amounts of money into funds that would directly benefit Iran," said state Sen. Loretta Weinberg. "It's our way in the state of New Jersey of making a statement, as well as putting our money where our collective mouths are on an issue of international importance."
2007-12-27 01:00:00
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