State Retirement Investments Tied to Iran…$24 BILLION!
Assemblyman Joel Anderson introduced legislation earlier this week to divest the Public Employees Retirement System (CalPERS) and State Teachers Retirement System (CalSTRS) of investments in Iranian-connected businesses, appropriately questioning whypublic funds should support terrorist states (read the original FR post and Joel’s SDUT op-ed).
At the time, not even he likely comprehended the amount of monies invested, as research was still being conducted to determine the total. Granted, California may have the best-funded retirement system in the world, but the answer is still unbelievable.
According to Conflict Securities Advisory Group (CSAG), a Washington, DC-based research and consulting firm that specializes in corporate ties to Iran and other security concerns, CalPERS is invested in 152 companies with ties to Iran with investments that total some $14 billion. CSAG further identifies 69 of these companies,… Read More