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NY’s Finest say ‘Nyet’ into putting
pension funds into Russian securities
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COURIER L 14 IFE, MARCH 4-10, 2022
cannot be denied, here or
anywhere.
“That’s why I stand
in support of efforts to
divest the city’s pension
funds from Russian assets
in light of the ongoing
invasion of Ukraine
— an unprovoked and
unjustifi ed war,” said
Adams. “This is not
about penalizing the
Russian people, but
about holding President
Putin and his government
accountable
for violating a nation’s
sovereignty and infl icting
widespread suffering
on its people. Our
administration is committed
to standing with
Ukrainians and refugees
here and abroad
while doing all we can
to advance peace, in collaboration
with the community
and our federal
partners.”
NYPD Detectives Endowment
Association
President Paul DiGiacomo
said the international
community has
spoken, and it’s clear that
the Ukrainian people
have been unjustly attacked.
“As a union comprised
of every race, religion,
and creed who strongly
believe in and protect
democracy we will do
whatever we can to aid
Ukraine – and fi nancially
hinder those in Russia
who wish the country
harm,” said DiGiacomo.
Other trustees of the
Police Pension Fund
include Police Commissioner
Keechant L.
Sewell, Finance Commissioner
Preston Niblack,
Police Benevolent, Detectives
Endowment Association
President Paul
DiGiacomo, Sergeants
Benevolent Association
President Vincent Vallelong,
Lieutenants Benevolent
Association
President Louis Turco
and Captains Endowment
Association President
Christopher Monahan.
The trustees of the
New York City Police
Pension Fund
voted Tuesday to approve
a resolution directing
City Comptroller Brad
Lander to carry out the
divestment of the Fund’s
investments in securities
issued by Russian
companies, beginning
with those identifi ed by
the United States government
as fi nancing, supporting
or enabling the
Putin regime.
The move came after
Lander brought the
resolution to the pension
board, which is made up
of union representatives
and elected offi cials. It
also comes as Russia has
stepped up its’ attack on
Ukraine.
The New York City Police
Pension Fund is one
the nation’s largest municipal
retirement funds
in the United States with
over 85,000 active members
and retirees. The
Fund held $42.2 million
in Russian securities at
the close of business on
February 25.
“The international
community and the
global fi nancial institutions
have rallied in support
of Ukrainians facing
an unjustifi ed assault on
their sovereignty and democracy.
New Yorkers,
including current and
retired police offi cers,
stand in solidarity with
Ukraine and are proud to
play a role in contributing
to cutting President Putin
and his enablers off from
global fi nancial markets,”
said Lander. “It is our
hope that the world’s response
accelerates an end
to aggression and a swift
resolution that saves lives
and supports the many
people displaced by this
violence.”
Mayor Eric Adams,
who is also a trustee of
the pension board, and
a retired NYPD captain,
also strongly supported
the move saying freedom
File photo
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