PERSI Sudan divestiture legislation planned 

Idaho’s public-employee retirement plan would be restricted from investing in companies that do business in Sudan under a law to be proposed next year in the Idaho Legislature.

The Idaho Sudan Divestment Task Force in a Sept. 28 news conference announced plans to propose legislation similar to that passed in 13 states. The group includes church, human rights and community organizations. It announced the legislative proposal as part of weekend of activities sponsored by the Idaho Human Rights Education Center including the Center’s annual dinner.

The planned Idaho legislation – similar to a proposal presented in February during the 2007 Idaho Legislature session – would restrict the Public Employee Retirement System of Idaho from investing in “the highest-offending companies that are fueling Sudan’s genocide,” according to a statement issued by the task force, United Vision for Idaho, Trillium Asset Management and the National Sudan Divestment Task Force.

The offenders are about two dozen foreign companies that refuse to change their practices, the groups said.

Trillium divested its holdings of companies doing business in Sudan. Lauren McLean, assistant portfolio manager with the firm in Boise, said in the statement that mutual funds PERSI holds in its defined-benefit plans are invested in some of the highest-offending companies doing business in Sudan.

She commended PERSI’s plan to offer Sudan-free funds to a smaller group of beneficiaries who have defined-contribution – 401(k) – plans starting Oct. 12. However, the task force believes all beneficiaries should be protected from the offending companies even though PERSI officials have said they cannot divest unless the Idaho Legislature directs the organization to do so, she said.

The Idaho Sudan Divestment Task Force said 13 states passed the model legislation it advocates, and 20 states divested – producing positive responses from some corporations.

NEW! Online only subscription. 24/7 access to premium online subscriber content for only $79.00 a year!
CLICK HERE TO SIGN UP TODAY!

Comments are closed.