Tuesday, Governor Bill Ritter and State Senator Josh Penry will announce a new plan which they say will take U.S. dollars out of Iran.
The Public Employee Retirement Association, or P.E.R.A., controls a pension fund of $40 billion.
With this new plan, P.E.R.A. would not be allowed to make any new investments in any foreign companies which have direct dealings with Iran. P.E.R.A. will also review companies it already invests in, and pressure those who do business with Iran to back off or lose money.
"It's good public policy," said Senator Penry. "I think it's the right thing to do from an American perspective because Iran is such a threat in Iraq, and around the rest of the world."
Senator Penry says he is pleased both P.E.R.A. and the governor were so willing to work on this agreement.