Tell New York State: Stop purchasing Israel Bonds for the Common Retirement Fund!
http://bit.ly/BTBNYS
As employees, retirees, taxpayers, and residents of New York State, we envision a state where all of our communities can thrive — where our families and neighbors have access to resources like education, healthcare, and housing in order to flourish.
But State Comptroller Thomas DiNapoli continues to put his political aspirations before the needs of our communities here in New York.
He has spent hundreds of millions in state retirement funds on Israel Bonds, unrestricted loans that go directly into the Israeli treasury and provide critical financial support for Israel’s apartheid system, the forced displacement of Palestinians, illegal settlement construction, and the ongoing killing of Palestinians in Gaza and the West Bank. The New York State Common Retirement Fund (NYSCRF) is one of the top U.S. investors in Israel Bonds, with over $340 million worth of Israel Bond holdings as of March 2024.
Israel Bonds are not only ethically unconscionable, they are also a low return and increasingly risky investment.
By continuing to invest in Israel Bonds, including purchasing more than $100 million in new bonds in the six months following October 7, 2023, DiNapoli has prioritized his political agenda over his obligation to maximize the retirement funds of more than 1 million state and local government employees, non-teaching school district employees, firefighters, and public sector retirees.
We call on Comptroller DiNapoli to be on the right side of history and bring this pension fund into alignment with its own legal mandate by prioritizing sustainable investments that benefit state workers, retirees, and all New Yorkers — as well as by refusing to fund Israeli apartheid and genocide.
DiNapoli can follow in the tradition of the New York City Employees’ Retirement System, which divested from companies doing business with South Africa’s apartheid government in 1984, helping to end South African apartheid through economic pressure.
As workers, retirees, taxpayers, and residents of New York State, we call on New York State Comptroller Thomas DiNapoli to stop buying Israel Bonds and prioritize the financial and ethical interests of our communities.