Regulations: Iran divestment policy has been in place for the Ohio Public Employees Retirement System (OPERS) since 2007. The policy does not legally require the fund to divest from companies with ties to Iran, but it encourages the fund’s managers to reduce such investment where possible (1).
Effects: As of June 2015, OPERS has reduced its investment in companies tied to Iran from $393 million to $18 million (2).
Recent activity: In 2015, Ohio Governor John Kasich made a non-binding request to the fund’s managers that they divest from Iran-related companies as quickly as possible. Kasich’s request was met with some criticism from some OPERS officials, who reiterated their fiduciary duty not to invest on behalf of political agendas (3, 4). Executive Director Karen Carraher addressed Kasich’s request in a letter, reminding the governor of the independent nature of OPERS while at the same time acknowledging that OPERS has followed a policy of divestment (5).