LIU: NEW YORK CITY EMPLOYEES’ RETIREMENT SYSTEM RE-COMMITS TO STATE OF ISRAEL BONDS

NEW YORK, N.Y. – City Comptroller John C. Liu today announced, on behalf of the New York City Employees’ Retirement System (NYCERS), the reinvestment of $15 million in State of Israel Bonds. 

“New York and Israel share a special relationship built on friendship and a commitment to mutual support,” Comptroller Liu said.  “Today we reaffirm our ties to the people of Israel with an investment in their country’s economy that will provide our hardworking municipal employees a market-rate return.”

This is NYCERS’ third direct purchase of State of Israel bonds.  NYCERS purchased $15 million in bonds from the Development Corporation for Israel in 2008 and renewed that commitment in 2010.  The NYC Pension Funds combined own $40 million in State of Israel Bonds.

“NYCERS continued investment in Israel bonds is an expression of belief in the continued strength and resilience of Israel’s economy, as well an appreciation for the dependability and diversity Israel bonds provide for financial portfolios,” said Israel Bonds President & CEO Izzy Tapoohi.  “City employees can be confident that Israel bonds will be a valued and reliable addition to their pension funds.”

“We salute New York City Comptroller John C. Liu, investment advisor to, custodian, and trustee of the New York City Employees’ Retirement System, and all the other trustees, for announcing their intent to again reinvest in the State of Israel through State of Israel Bonds,” said Ronald G. Weiner, President of the Jewish Community Relations Council of New York (JCRC-NY).  “This welcome decision is a further affirmation of the strong and enduring ties linking New Yorkers and Israelis.”Press Release.