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AUGUSTA – Bucking a committee recommendation and a vote in the Senate, the Maine House has rejected a bill calling for a divestiture of pension funds in companies doing business in Iran. The House voted 95-50 Tuesday to not require the Maine Public Employees Retirement…
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AUGUSTA – Bucking a committee recommendation and a vote in the Senate, the Maine House has rejected a bill calling for a divestiture of pension funds in companies doing business in Iran.
The House voted 95-50 Tuesday to not require the Maine Public Employees Retirement System to divest pension and annuity funds from companies that do business with Iran.
Opponents said the state shouldn’t be meddling in international politics.
But supporters said the state has taken similar actions against companies doing business in South Africa, Northern Ireland and the Darfur region of Sudan. The Labor Committee had voted unanimously in support of the bill and the Senate approved it last week.
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