California State Assembly Passes Iran Divestment Bill

On Thursday, September 6, the California State Senate passed a divestment bill on Iran. The bill was passed by the State Assembly on June 5. The bill requires the $247.7 billion California Public Employees’ Retirement System and the $169 billion California State Teachers’ Retirement System, both in Sacramento, to divest stocks totaling about $2 billion and $1.4 billion, respectively. California Governor Arnold Schwarzenegger has until Oct. 14 to sign the bill.