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2 of NYC’s 5 public pension funds are vulnerable to a mayor-backed Israel divestment push

(JTA) — The man who is likely to be New York City’s top finance watchdog under Zohran Mamdani — assuming they both win their races on Tuesday — has said he does not believe Mamdani could divest the city’s pension funds of their investments in Israel.

“Just doesn’t have the votes for that,” Mark Levine, the likely next comptroller, told the Jewish Telegraphic Agency in September.

But in fact, Mamdani would be able to stack the boards of two of the city’s five pension funds such that divestment from Israel could be on the table, according to a JTA analysis — and some of Mamdani’s supporters say they are optimistic.

“We have hope in a Mamdani administration,” said Leah Plasse, a school-based social worker who has been lobbying for two years for the Teachers’ Retirement System to divest from Israeli assets.

As the election draws close and Mamdani maintains his lead in the polls, Jewish New Yorkers are wondering about how a mayor who is a longstanding supporter of the Boycott, Divestment and Sanctions movement against Israel could enact his vision in New York City. 

Mamdani has stated his intention not to invest city funds in Israel bonds, in keeping with the current comptroller’s decision not to reinvest when $39 million in bonds matured in 2023. 

But the city’s pension funds hold Israel investments beyond Israel bonds, which are issued by the Israeli government. The BDS movement calls for divesting from “all Israeli and international companies that sustain Israeli apartheid” — expanding targets to include most Israeli companies as well as non-Israeli companies that do business with the Israeli government. 

The Teachers’ Retirement System’s Israeli investments include military technology companies — which Plasse and the group NYC Educators for Palestine have honed in on — as well as a variety of businesses like energy companies, food manufacturers and fuel companies.

Altogether, the city’s five public pension funds contain approximately $315 million in Israeli assets, according to the comptroller’s office. Mamdani has not indicated an intention to push for full divestment, but he also has not denied the possibility when asked.

Asked about doing so in a JTA questionnaire last week, Mamdani responded, “I support the approach of the current comptroller, Brad Lander, to end the practice of purchasing Israel bonds in our pension funds, which we do not do for any other nation.” He also did not specifically respond to part of that question which asked how else he might advance the cause of BDS as mayor. 

What’s clear is that if Mamdani chose to make divestment a priority, pathways exist within the city’s pension fund management where headway could be possible.

For each of the city’s five pension funds to make any investment decisions, its board of trustees must vote in favor. Those boards vary in size, but typically consist of the comptroller, an appointee by the mayor and a number of labor representatives. Recommendations are made to those boards by the comptroller’s in-house Bureau of Asset Management.

Levine emphasized that a mayor could not “singlehandedly” overrule the comptroller’s recommendations to divest from Israel. But on boards where the mayor has more influence over the makeup of the trustees, the mayor could do so with the help of his or her appointees.

The Board of Education Retirement System, for example, has a 28-person board of trustees — a 15-person majority of whom are appointed by the mayor. Of those 15 mayoral appointees, one is the schools chancellor, one is an independent appointee, and the other 13 are the mayoral appointees on the city’s Panel for Educational Policy. (Mamdani has said he wants to reduce the influence of the mayor on the PEP.) The number of votes required to pass a resolution in the BERS is 15, though that figure must include one of the board’s two employee-elected members.

The board of the Teachers’ Retirement System, meanwhile, consists of seven members, and requires four votes to pass a resolution. Three of the members are mayoral appointees, one represents the city comptroller, and the other three are elected by the teachers on staggered three-year terms. 

The three teacher members on the board now are all drawn from the teachers union’s leadership caucus. The union, the United Federation of Teachers, endorsed Mamdani.

The other three pension funds — for police, firefighters and city employees — are less susceptible to mayoral influence because the mayor appoints a smaller proportion of members.

While the movement to boycott Israel has called for divestment since 2005, advocacy has ramped up in many places in the last two years during the Israel-Hamas war in Gaza. In New York City, pro-Palestinian advocacy groups have gained little traction under an Eric Adams mayoral administration that is not sympathetic to their activism. 

In fact, the Teachers’ Retirement System board has been resistant to advocacy for divestment, according to Plasse, who noted that the board “voted to close the public comment period after 1.5 years of us coming to speak about divesting our pension.” 

Plasse said she was told this change was made for the sake of consistency, as no other pension funds’ board meetings include public comment periods. But she said it felt “quite clear” the real reasoning was to stifle her and her group’s “continued advocacy.”

Indeed, groups such as NYC Educators for Palestine and Workers for Palestine have regularly sent representatives to the public meetings of the pension boards. In public comments, the activists have pointed to examples like the city’s divestment from South African businesses in the 1980s, and more recently, the funds’ unilateral decision to divest from Russian securities in 2022, to show a precedent.

“And just on a personal note, before the holidays, as a Jew, before Hanukkah begins, I truly believe in tikkun olam, which is the repairing of the world,” Plasse said in the public comment period of a December 2024 board meeting of the Teachers’ Retirement System, according to meeting minutes. “We are funding genocide. That is against my faith.”

Any effort to divest from Israel would likely butt up against Levine, who is expected to win the race for comptroller. Levine, who is Jewish, endorsed Mamdani but has said he wants the city to resume investing in Israel bonds. NYC Educators for Palestine joined the anti-Zionist group Jewish Voice for Peace outside Levine’s office last week for a protest they named “Break the Bonds,” calling his intention to invest in Israel bonds one that puts “deadly politics over the interests of working New Yorkers.”

Levine, however, says he isn’t motivated by pro-Israel sentiment. The investments, he notes, have always been sound for the city. (Levine’s campaign did not respond to requests for a follow-up interview.)

That means the issue of Israeli investments — which, according to Levine, are a sturdy piece of an investment portfolio that serves more than 750,000 New Yorkers — could bring some of Mamdani’s deeply held values into conflict. In response to JTA’s question on divestment, he emphasized the central promises of his campaign. 

“My priority as mayor will be to deliver on the affordability agenda I ran on: freezing the rent, universal childcare, and fast and free buses,” Mamdani answered. “That will always be the core of my administration.”

And advocates for divestment say they won’t stop pushing the case before the pension boards. At October’s Teachers’ Retirement System board meeting, Plasse handed out a written statement calling for an investment analysis and declaring that her group would be undeterred by the board’s repeated denials. 

“I am more than open to meet with anyone about anything that has been discussed here today,” the statement read. “But please know, we are only becoming more embolden [sic] to demand this change. This is our money and the time will come.”

The post 2 of NYC’s 5 public pension funds are vulnerable to a mayor-backed Israel divestment push appeared first on The Forward.

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Purim gets creative in Israel, with festivities driven underground

TEL AVIV, Israel — On the corner of a sun-bleached side street in Tel Aviv’s Shuk Levinsky, costumed mannequins stand guard over a half-dark shop, their painted eyes fixed on a street gone strangely still. Cardboard boxes of sequined capes and feathered wings spill onto the sidewalk, untouched. The neighboring businesses are shuttered, heavy padlocks fastened across their metal doors.

On any weekday, the quiet would feel unusual in this bustling pocket of south Tel Aviv. But this is Purim week — normally the market’s most frenetic stretch of the year. In ordinary times, the sidewalks would be clogged with parents and teenagers clamoring for last-minute costume details, with vendors shouting prices over the din.

That was precisely the scene just 48 hours earlier, on the Friday before the Purim madness was set to begin. Despite weeks of speculation about a looming confrontation with Iran, most Israelis pressed ahead with their plans. Hamentaschen were baked, school carnivals assembled, parties confirmed. A meme circulated in school group chats: “Can someone let us know if we are supposed to be buying costumes or canned goods?”

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Eerily quiet streets in Shuk Levinsky. Photo by Rachel Fink

Early Saturday morning, an answer came via the piercing trill of the emergency alert system. The United States and Israel had begun what officials described as “preemptive strikes” against Iran. Within hours, thousands of reservists were called up. Citizens scrambled for shelter plans. WhatsApp groups filled with instructions and anxieties. And as Iran launched retaliatory rockets, Israelis absorbed a different blow: Purim was officially canceled.

Hence, the shuk’s current ghost town atmosphere. Inside the darkened shop, Rotem Avidan sat at the register, scrolling on his phone.

“There’s no real reason to be open,” he said. “Mostly I was just bored at home. I’ll probably close up in a couple of hours.”

Avidan has been selling costumes in the shuk for more than 15 years and relies heavily on Purim sales. The day before the holiday is typically his busiest of the year. Instead, he estimates he’ll make about 80% of his usual income.

“It’s not terrible,” he said with a shrug. “But it’s just one more irregular year. We had corona. We had two years of war. This was supposed to be the year things finally went back to normal.”

The past two Purims were indeed subdued, shadowed by the war in Gaza and the fight to bring hostages home. Even celebrations that went ahead felt muted. With the last living hostages returned in October, many had hoped this would finally be an uncomplicated holiday.

To fully grasp why the cancellation hit so hard, one must understand Purim in Israel. This is not a single-event celebration. It is a multi-day spectacle that spills from nursery school classrooms into city streets. Municipal adloyadas — elaborate parades with floats and marching bands — draw families by the thousands. Teenagers roam in coordinated group costumes. It is not uncommon to find yourself seated on a bus beside an elderly woman in full clown makeup, or handed paperwork at the bank by a teller wearing butterfly wings.

None of which would be happening this year.

Children feel the loss most acutely. For many, Purim is the highlight of the school calendar: themed dress-up days, costume parades, parent-run carnivals, and the exchange of mishloach manot before a three-day vacation. On Sunday morning, children across the country woke to the bad news.

Teachers scrambled to salvage what they could. Virtual parades were arranged over Zoom. Students were asked to send photos in costume. Mishloach manot became neighborhood drop-offs.

In some cases, the children made their own Purim joy. In one Tel Aviv apartment building, the kids organized a costume party, complete with printed invitations for guests. Playgrounds around the country — at least those equipped with shelters — were filled with rambunctious children dressed as superheroes and princesses, their bleary-eyed parents dragging slightly behind them.

If children are Purim’s most visible protagonists, they are hardly its only devotees. For young adults, the holiday is the high point of Israel’s nightlife calendar — a sanctioned blur of themed raves and packed bars. This year, the bomb shelter became a stand-in for the nightclub.

Within hours of the first rocket fire, twentysomethings in Tel Aviv’s Florentin neighborhood had organized an impromptu party in a public shelter, complete with makeshift costumes and an amateur DJ. When video of the event went viral, social media flooded with young people asking about the nearest mesibat miklat — a “shelter party.”

Not everyone approved.

“Wow. How disconnected can you be?” one commenter wrote. “People have been killed and you can’t give up your Purim party for one year?”

By nightfall, hundreds had gathered — some in small, shared building shelters for private parties, others in larger municipal bunkers — determined to carve out a pocket of joy, even as Iranian missiles soared overhead.

Shahar Rubin, 24, hadn’t planned on going to a party when he and his friends noticed a stream of people heading into the Dizengoff Center parking garage. “We figured, why not?” he said.

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Scenes from a Purim party in Dizengoff Center’s public shelter in Tel Aviv. Photo by Shahar Rubin

Four stories underground, in one of the city’s largest public shelters, a DJ blasted music as costumed revelers danced beneath the fluorescent lights and exposed concrete.

“This is exactly why we come to Tel Aviv,” said Rubin, who is originally from the north. “There’s nothing like the Purim atmosphere here.”

After more than 400 days of wartime reserve duty in the Israel Defense Forces, the celebration felt like a rare exhale — and perhaps a brief one, before he is called up again. “It was a last hurrah of sorts,” he added, as he and his friends headed off in search of their next mesibat miklat.

Beyond the costumes and parties, Purim is anchored in four religious obligations: a festive meal, the exchange of food gifts, donations to the poor and — most famously — the public reading of Megillat Esther.

“According to Jewish law, men and women are required to hear the reading of the entire Megillah from a kosher scroll,” said Rabbi Nadav Berger, head of Hadar’s Beit Midrash in Jerusalem. “Because the obligation is about publicizing the miracle of Purim, there is a strong preference to do it in public, in a group of at least ten people.”

That preference became complicated as soon as Home Front Command restricted public gatherings.

By the time Shabbat ended, observant Jews were organizing small readings in private homes and shelters. Hadar put out a call for community members who owned kosher megillot.

“Owning a personal megillah isn’t as rare as owning a Torah scroll,” Berger explained. “Many people inherit one or receive one for a bar mitzvah or wedding. Hearing the Megillah in person is still our first recommendation, so we wanted to help facilitate that safely.”

For those unable to attend, Hadar is also offering Zoom options, drawing on halachic guidance developed during the pandemic. “The rulings get into the technical question of how to understand electronically transmitted sound,” Berger said. “But it goes without saying: no one is required to risk their life to hear the Megillah — or to fulfill any other Torah commandment. Safety overrides everything.”

He added: “Typically, one would perform a mitzvah all in one sequence, from beginning to end. But if a siren goes off while you are reading the megillah, it is perfectly acceptable to pause the reading, even for a few hours, until it is safe to return.”

For Berger, the tension between caution and celebration may be truer to Purim than one might expect for a holiday typically associated with pure, unadulterated joy. When he sent out Hadar’s revised Purim plans, he opened with Mordechai’s words to Esther: “Who knows. Perhaps it was for just such a moment that you attained royalty?”

“Meaning, you have to be responsible right now,” Berger explained. “You have to think about your situation and respond accordingly. That’s what we’re trying to do in light of all that’s happening.”

He went on, “If you read the Megillah, most of it is actually anxiety-provoking. It is a very tense story. The joy comes only at the end.”

“The hope,” he said, “is that this, too, is only the middle — and that Israel will once again return to celebrating Purim happily, joyously, as we do every year.”

The post Purim gets creative in Israel, with festivities driven underground appeared first on The Forward.

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Fears of Iranian Sleeper Cell Retaliation Grow in the West as Middle East War Escalates

Iran’s Supreme Leader Ayatollah Ali Khamenei listens to the national anthem as Air Force officers salute during their meeting in Tehran, Iran, Feb. 7, 2025. Photo: Office of the Iranian Supreme Leader/WANA (West Asia News Agency)/Handout via REUTERS

Fears of Iranian-backed terrorism are intensifying across Western countries, with officials warning Iran could mobilize terrorist sleeper cells and proxy networks in revenge for the unprecedented US-Israeli strikes on Saturday that killed Supreme Leader Ayatollah Ali Khamenei — prompting governments to raise threat levels and bolster security for Jewish and Israeli communities abroad.

Sleeper cells are covert operatives or terrorists embedded in rival countries who remain dormant until they receive orders to act and carry out attacks.

As the war in the Middle East continues to spread and escalate, officials in Germany have warned of potential Iranian retaliation targeting Jewish and Israeli institutions nationwide, prompting several federal states to step up protections and issue alerts as threat concerns mount.

“Retaliatory measures — including the possible activation of Iranian sleeper cells in Europe — cannot be ruled out,” Marc Henrichmann, who chairs the parliamentary oversight committee of the intelligence services in Germany, told the local newspaper Süddeutsche Zeitung.

“The Iranian regime has repeatedly shown that it extends its use of terror beyond its own borders,” Henrichmann said. “Federal and state security authorities remain on the highest alert level and will adjust protective measures whenever necessary.”

Roman Poseck, the interior minister of the German state of Hesse, added to German outlet Die Welt that it should “be assumed that there will be an increase in the abstract threat situation, especially for Jewish, Israeli, and American institutions.”

Meanwhile, Felix Klein, the German government’s commissioner for combating antisemitism, warned to the Funke media group that, following the outbreak of conflict with Iran, “we must assume an increased threat to Jewish life in Germany.”

In France, Interior Minister Laurent Nuñez also issued a heightened alert, warning of potential threats and urging regional authorities to reinforce security around Jewish places of worship.

“In light of the current international situation in the Middle East, I reiterate my instructions to remain vigilant and ask you to immediately implement enhanced security measures for Jewish places of worship and religious gatherings,” Nuñez told French newspaper Le Figaro.

The United States and Israel carried out a series of strikes on military and leadership targets across Iran — including senior officials and Islamic Revolutionary Guard Corps commanders — after negotiations over Tehran’s nuclear and missile programs failed to yield results.

Shortly after reports emerged that the US–Israeli joint operation may have killed Khamenei, US President Donald Trump released a message urging Iranians to consider a future beyond the current regime and expressing guarded hope that the moment could lead to meaningful change.

The escalation came weeks after the Iranian regime killed tens of thousands of civilians in a sweeping crackdown on last month’s anti-government protests. The outbreak of fighting also followed last June’s 12-day war between Iran and Israel, which concluded after the US joined and bombed Iranian nuclear sites.

Beyond Europe, fears of Iranian retaliation are rising in the US, as counterterrorism agencies warn that additional resources are being rushed into efforts to detect and disrupt potential revenge attacks on American soil.

Although no specific credible threats have been publicly disclosed, FBI Director Kash Patel said Saturday that US counterterrorism and intelligence agencies were operating under heightened alert, with personnel “working 24/7 … to address and disrupt any potential threats” on US soil.

“While the military handles force protection overseas, the FBI remains at the forefront of deterring attacks here at home – and will continue to have our team work around the clock to protect Americans,” Patel wrote in a post on X.

Amid growing fears of possible retaliation, Secretary of Homeland Security Kristi Noem also said authorities are “in direct coordination with our federal intelligence and law enforcement partners as we continue to closely monitor and thwart any potential threats to the homeland.”

Concerns over the activation of Iran’s sleeper cells have surged even further after a deadly mass shooting in Austin, Texas involving a suspect with alleged support for the Islamist regime and a separate gun attack on the gym of an Iranian dissident in Richmond Hill, Ontario. Both incidents stoked fears of politically motivated violence linked to the broader regional crisis in the Middle East.

On Sunday, a gunman opened fire at a bar in Austin’s West Sixth Street district, killing two people and injuring 14 others before being shot and killed by police.

Authorities later reported finding a flag of the Islamic Republic and photographs of Iranian leaders inside the suspect’s apartment, deepening concerns about potential links between the attack and broader political or ideological influences.

According to the FBI and the Joint Terrorism Task Force, there were indicators that could suggest a possible terrorism link.

In Canada, hours after the announced death of Khamenei, a boxing gym run by Iranian-Canadian dissident activist Salar Gholami was struck by gunfire overnight.

Tehran’s ability to coordinate or inspire attacks on American soil has long been a concern for US law enforcement and intelligence officials — a fear that only deepened after Trump ordered the assassination of Iranian General Qasem Soleimani in 2020.

Amid the 12-day war in June, NBC News reported that Iran had privately warned the United States that it could activate sleeper cells on American soil in response to military action. While no specific plots were publicly disclosed, US authorities increased domestic security measures and intelligence monitoring in anticipation of possible attacks. Vice President JD Vance said the Trump administration was examining the possibility of an Iran-backed homeland attack “very closely.”

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‘Death to America’: Campus Student Groups Express Solidarity With Iran, Call for Uprising Against US

A pro-Hamas activist wears a keffiyeh while marching from the City University of New York to Columbia University. Photo: Eduardo Munoz via Reuters Connect

Anti-Zionist student groups across the US proclaimed solidarity with the aims of Islamism and jihad following a joint military operation between the US and Israel which killed Iranian Supreme Leader Ayatollah Ali Khamenei and dozens of other high-level regime officials on Saturday.

“Death to America,” posted a group which calls itself Columbia University Apartheid Divest (CUAD), a Students for Justice in Palestine (SJP) spinoff which serves as an umbrella group for a consortium of revolutionary organizations, some of which are formally recognized by the university. “We yearn for the end of the US settler colonial project. This should not be a controversial position.”

In other posts, the group shared an April 24 tweet in which Khamenei told pro-Hamas college students, who were in the middle of convulsing higher education institutions with illegal building occupations and antisemitic hate crimes, that they are “on the right side of history” and another which said “Iran has every right to defend itself against zionist [sic] warfare.”

A torrent of criticism followed the comments, leading Columbia University to denounce CUAD for falsely claiming to be a university entity.

“The group that calls itself ‘CUAD’ is not a recognized student group, or affiliated in any way with the university,” the institution said on the X social media platform, pointing to a July 2025 statement by former interim president Claire Shipman which formally proscribed any official correspondence or communication with CUAD. “There is no evidence that anyone currently in control of their account is a current Columbia student, staff, or faculty member. They are illegally using the Columbia name.”

Dr. Asaf Romirowsky, executive director of Scholars for Peace in the Middle East, said American officials should take CUAD’s rhetoric seriously.

“Cheering on Hamas and supporting Iran, a state sponsor of terrorism that has scores of American blood on their hands, surely warrants consequences,” he said. “We already have a great and sensible law on the books which says that while we welcome anyone who wishes to come here, attend university, and get an education, we do not permit people who openly support and advocate for terrorism. Actively supporting terrorism while calling for death to America and chanting ditties that advocate the annihilation of the world’s sole Jewish state should be a red line that warrants expulsion and deportation for those on student visas.”

CUAD is not the only group which denounced what the US dubbed “Operation Epic Fury.” On Sunday, New York University’s SJP chapter announced an anti-US demonstration to “demand an end to this criminal war that benefits no one other than US corporate interests.”

Meanwhile, DMVSJP, a network of SJP groups operating in Washington DC, Maryland, and Virginia, implored socialists and other revolutionary groups to attend a demonstration outside the White House on Monday, charging that “another US-backed war would mean death and displacement abroad and repression at home.”

The University of Chicago’s SJP chapter cheered Iran’s retaliatory strikes against US assets in Bahrain.

Some protests have kicked off already, according to social media reports, and have seen members of Yale’s SJP chapter brandishing “Death to America” signs. Prior to the demonstration, the group parroted propaganda confected by what remained of Iran’s political leadership following this weekend’s strikes, accusing the US of “killing children, including civilians.”

In the United Kingdom, the Ahlul-Bayt Islamic Society of University College London said, “This is not the end to resistance. The Shia in the west [sic] must remain aware and ready.”

Writing to The Algemeiner on Sunday, Sabrina Soffer, research fellow at the Jerusalem Center for Security and Foreign Affairs, said SJP’s statements are indicative of an ideology which contradicts itself.

“Even after the death of one of the Middle East’s most brutal butchers, they cannot offer even a scintilla of credit to Israel or the United States for confronting a regime that has terrorized its own people for decades,” Soffer said. “They brand themselves ‘anti-war’ yet refuse to recognize that the only genuinely anti-war force in this equation is the one dismantling the infrastructure of terror and repression. Israeli and American actions aimed at weakening a violent theocracy are not acts of aggression against the Iranian people — they are part of a rescue operation on behalf of a population held hostage by its rulers.”

She added, “What is truly un-progressive is the arrogance of presuming to speak for Iranians while ignoring those who have risked imprisonment and death resisting the regime from within. It is entitlement masquerading as solidarity.”

Students for Justice in Palestine’s national office has previously discussed its strategy of using the anti-Zionist student movement as a weapon for destroying the US in a now-deleted tweet that was posted to X in September 2024.

“Divestment is not an incrementalist goal. True divestment necessitates nothing short of the total collapse of the university structure and American empire itself,” the organization said. “It is not possible for imperial spoils to remain so heavily concentrated in the metropole and its high-cultural repositories without the continuous suppression of populations that resist the empire’s expansion; to divest from this is to undermine and eradicate America as we know it.”

The tweet was at the time the latest in a series of progressive revelations of SJP’s revolutionary goals and its apparent plans to amass armies of students and young people for a long campaign of subversion against US institutions, including the economy, military, and higher education. Like past anti-American movements, SJP has also been fixated on the presence and prominence of Jews in American life and the US’s alliance with Israel, the world’s only Jewish state.

On the same day the tweet was posted, CUAD distributed literature calling on students to enlist in a holy war against Israel and the US.

“This booklet is part of a coordinated and intentional effort to uphold the principles of the thawabit and the Palestinian resistance movement overall by transmitting the words of the resistance directly,” it said. “This material aims to build popular support for the Palestinian war of national liberation, a war which is waged through armed struggle.”

Other sections of the literature were explicitly Islamist, invoking the name of “Allah, the most gracious” and referring to Hamas as the “Islamic Resistance Movement.” Proclaiming, “Glory to Gaza that gave hope to the oppressed, that humiliated the ‘invincible’ Zionist army,” it said its purpose was to build an army of Muslims worldwide.

“We call upon the masses of our Arab and Islamic nations, its scholars, men, institutions, and active forces to come out in roaring crowds tomorrow,” it added, referring to an event which took place in December. “We also renew our invitation to the free people and those with living consciences around the world to continue and escalate their global public movement, rejecting the occupation’s crimes, in solidarity with our people and their just cause and legitimate struggle.”

Follow Dion J. Pierre @DionJPierre.

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