OPINION:
When I became an officer with the New York Police Department, it was for one reason: to protect the people of New York City and make our communities safer.
Every call was answered without hesitation. We risked our lives because we believed in something larger than ourselves. We believed in the promise that when our service was done, the city would keep its word to us: a stable pension we could count on after a career spent protecting others.
Now, as a retired NYPD deputy chief, that promise increasingly feels uncertain.
Former New York City Comptroller Brad Lander’s efforts to sideline major investment managers over “climate and social” priorities were not just misguided; they were also reckless. During his tenure, Mr. Lander injected politics into pension decisions, risking the retirement security of more than 750,000 city workers, including police officers such as me.
This kind of thinking is spreading. New York Assembly Bill 10882, introduced in Albany, would prohibit the New York Police and Fire Retirement System from using external investment managers altogether.
Although the bill is being framed as a way to reduce fees, it reflects a deeper misunderstanding of how pensions generate strong returns and shows how politics continue to creep into places they don’t belong.
Pressuring asset managers to align with a political vision sends a troubling message: Comply or lose business. Several targeted firms manage billions of dollars and have strong track records, yet performance is being overshadowed by ideology. The result is predictable: fewer investment options, higher costs and lower returns for retirees.
Union leaders have warned against this. Pension funds are not political tools; they are lifelines for retirees who depend on stable, high-performing investments. Even small differences in returns can mean real financial strain.
This problem is not limited to one political party. Texas and Oklahoma have imposed their own political tests from the opposite direction, with the same effect: distorted decisions and weakened retirement security. In both states, those misguided policies have since been rolled back.
New York once prided itself on being practical. Pension management should follow that same rule. Our pensions are promises. They must not become political tools.
TIMOTHY BUGGE
Deputy chief, New York Police Department (retired)
Holbrook, New York
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