A California bill requiring CalPERS and CalSTRS to divest from any investment vehicles owned by the government of Turkey upon passage of related federal legislation has cleared the state Legislature and is awaiting the governor's signature.
The $380.7 billion California Public Employees' Retirement System, Sacramento and the $238.3 billion California State Teachers' Retirement System, West Sacramento, would be required to divest only if Congress sanctions Turkey for its failure to acknowledge the Armenian genocide during World War I.
Both CalPERS and CalSTRS opposed the bill.
Gov. Gavin Newsom is expected to sign the bill.
