With $175 billion in investments, NYC’s pension funds are collectively the fifth-largest retirement plan in the entire United States. Of that, $58 billion is invested in the stock market. As of last week, those stock market investments no longer included shares in private prison companies. With the sell-off, NYC’s public pension system became the first in the country to divest from private prison companies, selling off $48 million in shares.
NYC Pension Funds Made a $48 Million Statement About Private Prisons