N.J. Senate passes Iran divestment bill

The New Jersey Senate on Monday passed a bill prohibiting state pension funds from investing in companies that do business in Iran. The state Assembly had passed the measure in June, and it now goes to Gov. Jon S. Corzine. The state has an $84 billion pension fund, overseen by the New Jersey State Investment Council, Trenton. Mark Perkiss, a spokesman for the New Jersey treasurer’s office, said the fund has about $1 billion in Iran-related investments.