The Use of Pension Cash

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The New York Sun

New York City Comptroller William Thompson Jr. and the city’s Pension Board should be congratulated rather than criticized for letting companies know that discrimination based upon sexual orientation is simply not acceptable in 2004 [“Thompson’s Use of Pension Cash Faulted by Some,” David Hafetz, Page 1, July 22, 2004].


This has been law in the city for 18 long years.


Much of the private sector got over its prejudices regarding sexual orientation long ago and put in place non-discrimination workplace policies, realizing it was good for their employees as well as a good business practice.


Today, a vast majority – 321 of Fortune 500 companies – have such policies in place.


And while there has been absolutely no indication that Mr. Thompson has invested or divested a single share of stock based upon a company’s position on this issue, so what if he did?


The city’s principles are empty if it does not put its money where its mouth is.


As was true with the debate around the recently passed New York City Equal Benefits Bill, the money of city residents should never be used to support discrimination against lesbian, gay, bisexual, and transgender people, period.


I daresay we would not be having this discussion if Mr. Thompson were taking a similarly admirable position regarding workplace discrimination based upon race or religion.


The New York Sun

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