ALBANY, N.Y.  New York State Comptroller Thomas DiNapoli said Wednesday that he's prohibiting the state's $116.5 billion public worker pension fund from doing business with investment advisers who have made political contributions to the comptroller. The executive order also would apply to donations to candidates running for comptroller. DiNapoli's announcement is in advance of an expected ban by the federal Securities and Exchange Commission on so-called pay-to-play donations. "I've met with the chair of the SEC to urge the implementation of a national ban on pay-to-play political contributions, but we don't have to wait for the SEC to finalize its proposed rule," DiNapoli said. Actions in the comptroller's office from before DiNapoli took office have been scrutinized in recent months. Attorney General Andrew Cuomo has been investigating private equity firms involved in corruption at the state's public pension fund under DiNapoli's predecessor. The new ban applies for two years from the date of the contribution. The New York State Common Retirement Fund has about 350,000 retirees and 650,000 active members. It had $116.5 billion in assets at the close of its last quarter, down from the historic high of $154 billion in spring 2008. Many of the companies Cuomo investigated for their actions in an alleged pay-to-play scheme have paid restitution and are implementing reforms that the attorney general's office developed. Two ex-aides to former Comptroller Alan Hevesi are awaiting trial on charges that they instructed the companies to hire politically connected middlemen, known as placement agents, as a condition of doing business with the state. Hevesi resigned in 2006 and was convicted of using staff for personal purposes. __ Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Guidelines: You share in the USA TODAY community, so please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Use the "Report Abuse" button to make a difference. You share in the USA TODAY community, so please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Use the "Report Abuse" button to make a difference. Read more