Once again there's a group who thinks that the money we've paid into our pensions is their pot of gold. It's bad enough there's pressure at the State Board of Investors (SBI) to invest using ESG standards, now there's pressure from protest groups to pull some of our investments, not for fiduciary reasons, but political.
On November 30th Alpha News reported, "A few dozen Twin Cities-based leftist activists involved in an ongoing anti-Israel Boycott, Divestment, and Sanctions (BDS) movement called for the Minnesota State Board of Investment — whose members include Gov. Tim Walz and Attorney General Keith Ellison — to pull the state government’s investments out of businesses associated with the Israel-Hamas war Wednesday."
The SBI's job is to invest our money wisely for maximum return. The standard of living of Retirees already shrinks yearly as the rate of inflation outpaces our annual COLA's. We don't need further reductions due to poor investment strategies over political extremist.
The SBI needs to ignore the protestors and ESG BS and do the job we entrust them to do. Invest wisely.
Our Pension is not a political football.