TX Governor Asks Pension Funds to Divest Holdings in Iran-Linked Companies

September 26, 2007 (PLANSPONSOR.com) - Texas Governor Rick Perry has asked the state's two largest pension funds to divest their holdings in companies who do business in Iran and to submit a divestment plan of action within 30 days, the Austin American Statesman reported.

The request by Perry comes more than four months after the Texas House of Representatives passed legislation requiring the funds to dump their investments in companies with links to Sudan (See Texas House Approves Sudan Divestment Bill). At the time, the Texas retired teachers fund and employees fund together currently held about $700 million in shares in companies on various Sudan watch lists.

According to the news report,   retired teachers fund and employees funds together control $136 billion in assets.

The employees fund told the American Statesman it “will research the most appropriate process for identifying companies that meet the definition of doing business with Iran,” then submit the information to its board of trustees.