California Senate has passed Turkey Divestment Bill with a vote of 35:0, the Armenian National Committee of America – Western Region (ANCA-WR) reports.
Senate Bill 457 was introduced by Senator Anthony Portantino and Senator Scott Wilk.
It requires the Public Employees’ Retirement System (PERS) and the State Teachers’ Retirement System (STRS) Boards of Administration to allow school districts and cities to opt out of investment vehicles issued or owned by the Republic of Turkey.
“Many public employees of Glendale who are members of CalSTRS and CalPERS are descendants of Armenian Genocide survivors and most of them had to relive the intergenerational trauma during the recent Artsakh war, in which Turkey was heavily involved,” stated Senator Portantino, when introducing the bill.