The Daily Caller
Chris White
Labor unions are pushing back against New York City Democratic Mayor Bill de Blasio’s proposal to strip billions in oil assets from the city’s pension fund, according to a Thursday Politico report.
New York’s five largest pension boards are savaging de Blasio’s bid to drop Big Oil. The police pension board, which is worried about retirees’ financial future, rejected the idea outright, while the firefighters’ board also tabled the notion. Other NY pension boards are also skeptical of the ploy.
“This should not be funded on the backs of our members and the city members [who] belong to NYCERS,” Subway Surface Supervisors Association Union President Michael Carrube told Politico. His group’s pension is funded through the New York City Employees’ Retirement System — one of the largest pension funds in the country.
Other officials voiced similar concerns. Tom DiNapoli, New York’s comptroller and fierce opponent of divestment, suggested de Blasio’s gamble could be another attack against the state’s beleaguered pension plan.
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