NYCERS trustees vote to divest from Russian securities as invasion and violence escalate

According to officials, NYCERS held approximately $31.1 million in Russian securities at the close of business on Feb. 25.

News 12 Staff

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Mar 3, 2022, 7:26 PM

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Updated 1,014 days ago

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New York City Employees’ Retirement System (NYCERS) trustees voted Wednesday to approve the divestment of investments in securities issued by Russian companies.

According to officials, NYCERS held approximately $31.1 million in Russian securities at the close of business on Feb. 25.

"As the unlawful invasion of Ukraine by the Putin regime continues, the investment risks, economic volatility, and calls for an immediate end to these acts of aggressions by the global community have only grown,” said Comptroller Brad Lander. “Today’s vote by the New York City Employees’ Retirement System sends both a strong signal of solidarity with the Ukranian people and reinforces the commitment of NYCERS to safeguard the assets of the System’s thousands of beneficiaries.”

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