How N.J.'s Israeli boycott, Iran investment bans are affecting public pensions
TRENTON -- The state Legislature passed and Gov. Chris Christie signed over the summer a law requiring New Jersey's $71.6 billion public worker pension fund divest from companies that boycott Israeli goods and businesses.
As of this month, that law has changed nothing, according to the Division of Investment, which is obligated to report its compliance. In this first report, state officials said there are no such holdings.
However, the state did divest in a company that was doing business with Iran to comply with an older pension ban law.
Lawmakers roundly supported the law Christie signed last year as a show of support "to our friends in Israel that New Jersey has your back," as one state senator put it.