N.J. pulls more pension fund money, protest of Iran’s nuclear ambitions

New Jersey is continuing to pull pension fund money from companies that do business with Iran.

New Jersey is continuing to pull pension fund money from companies that do business with Iran.

Since a state law took effect in 2008, New Jersey has divested $489-million from companies doing business with Iran’s nuclear, gas, and petroleum industries. That leaves about $11-million still to be moved before a January 2011 deadline.

Assemblywoman Linda Stender says taking the pension fund investments from those companies is a strong protest of Iran’s nuclear development program.

Stender:
If we can get the other states in the union to join with us and to take similar action that makes it that much more effective in terms of all of us putting our money where are mouths are which is to stand for freedom.

While the state cannot set foreign policy, lawmakers say they can help influence it by moving that investment money.