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The genocide of Palestinians is back in the news, and government officials on both sides of the aisle remain committed to seeing this ethnic cleansing through — with the support of our tax dollars. Here is something Erie County taxpayers should know. Erie County contributes public money into the New York State and Local Retirement System for its employees. Those contributions become part of the New York State Common Retirement Fund, which invests public pension dollars on behalf of participating governments. That fund invests directly in debt issued by the State of Israel.
According to the NYS Comptroller’s March 2025 asset listing, the retirement fund held $277.5 million in Israeli government bonds by face value, with a listed carrying value of approximately $268.9 million. This is not speculation about what those bonds accomplish. When the Fund purchased an additional $20 million in Israel Bonds in October 2023, Comptroller Thomas DiNapoli openly stated the bonds “help support Israel.” That purchase brought Israel-bond holdings at the time to $267.8 million. The Comptroller also reported approximately $1.5 billion in total Fund investments in Israel across asset classes.
These are not shares in an American corporation that happens to operate in Israel. They are bonds issued by the State of Israel itself. Now, this does not mean $277.5 million came from Erie County alone. The retirement fund pools contributions from governments across New York State. The exact share would require a separate calculation — or, more simply, elected officials can explain why our public investments are not held in American stocks and bonds. So when we talk about where our local government money goes, we must stop looking only for a line item in the Erie County budget labeled “Israel.” Government financing never works that way. It works through obfuscation, layered financial structures, and manipulated narratives that keep taxpayers in the dark.
As taxpayers, we have the right to know where our money is invested, who benefits from it, and why our public dollars are being used to underwrite a foreign government engaged in mass human rights violations. Accountability is not optional — it is the minimum requirement for public stewardship. Because the humanity of Palestinians will continue to be denied as long as their suffering — and their deaths — remain financially profitable
