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City Council Passes Resolution Urging Pension Fund To Divest From Iran

City Council Chambers

A Chicago City Council meeting. (Credit: CBS)

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CHICAGO (CBS) — The Chicago City Council is urging the city’s largest employee pension fund to divest itself from companies that do business with Iran’s energy sector.

As WBBM Newsradio’s David Roe reports, the Council at its Wednesday meeting unanimously approved a non-binding resolution urging the Municipal Employees Sell Annuity and Benefit Fund of Chicago to divest its interest from companies involved with Iran.

LISTEN: WBBM Newsradio’s David Roe reports


If the pension fund follows through, Chicago would join New York City, Washington D.C., and 11 other U.S. cities making similar divestments, according to the Jewish Journal.

The call comes amid word that Iran has made advances in its nuclear enrichment program that put it close to weapons grade nuclear materials.

The Chicago area Jewish Community Relations Council lobbied in favor of the resolution, according to the Jewish Journal.

Quoted in the publication, B’nai B’rith president and Lake Forest resident Allan Jacobs said in passing resolution, the City Council has “set an important example for other municipalities to get onboard to isolate Tehran.”