PERA adopts policy on Iran divestment

By David Milstead, Rocky Mountain News (Contact)

Published January 22, 2008 at 12:05 a.m.

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The Public Employees' Retirement Association has created a new Iran divestment policy that calls for talking to foreign companies about their investments in the country. The policy will be announced this morning at a news conference with Gov. Bill Ritter.

PERA previously agreed to sell its investments in companies that do business in Sudan, prompted by the Darfur genocide. That led some lawmakers to call for divestment from Iran as well. Sen. Josh Penry, R-Fruita, said one key reason was that the country was supporting the insurgency in Iraq.

PERA's board adopted a statement last year opposing further mandates from the legislature on selling investments for political reasons. The new Iran policy would allow PERA to make the final decision.

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