I merged the five funds, and I did it strategically in a way that the five funds did not require state legislation or city council legislation. Every union leader sat with me and we agreed voluntarily to merge the funds. And We were able to create that 9% rate of return because we were nimble in investments and we were able to do things that never were done before. During that time period, I was able to divest from fossil fuels, we were able to divest from gun manufacturers, we were able to divest from private prisons, all while we were protecting the retirement security of the pension fund. (12:47–12:57)
CLAIM
Asserts that a 9% rate of return was achieved through nimble investments and unprecedented actions.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
