Minnesota’s State Investment Board Delays Meetings, Citing Concerns Over Political Violence
A board of top state officials chaired by Gov. Tim Walz that oversees $155 billion of Minnesota’s retirement fund investments has repeatedly delayed meetings this year and held one virtually due to what they say are concerns about political violence. The Minnesota State Board of Investment, which manages investments for 800,000 members of three employee retirement systems in the state, typically holds quarterly meetings in person. Until a remote hearing on Tuesday this week, it had only held one so far in 2025.
Security Concerns and Protests
Tuesday’s meeting had initially been scheduled in May but had been delayed multiple times — first to June 18, but was again postponed after the June 14 assassinations of former House Speaker Melissa Hortman and her husband Mark, and the shootings of Sen. John Hoffman and his wife, Yvette, according to board management and state Auditor Julie Blaha, one of the board’s four members. The delays also come as a group of activists demanding that the state drop its investments in Israel continues to protest at meetings. Eleven protesters were arrested by the Minnesota State Patrol during a sit-in at the state Retirement Systems Building on Tuesday, not far from the state Capitol in St. Paul, as the board met virtually. All have been released, though they face trespassing charges.
State leaders and board management pointed to security concerns in the wake of the June assassinations as the reason for the changes to meetings. “I agreed to meet virtually this month because, with the recent wave of political violence, we need to re-evaluate the security of our meetings,” Blaha said in a statement. “We must ensure we can protect not only those of us on the board, but also our staff and meeting attendees. In December, if security needs are met, I expect we’ll be back in person.”
Protesters’ Frustrations and Concerns
Divestment protesters say they’re frustrated by the delays and venue changes and have accused state leaders of postponing meetings and taking them online to avoid difficult conversations about Israel’s treatment of Palestinians. Meredith Aby with the Anti-War Committee, a Minneapolis group that opposes U.S. aid to Israel and supports divestment, said she and other protesters were frustrated by date changes and were skeptical of SBI blaming political violence for delays. “Between that (March) meeting and the meeting this time, it was moved to all virtual,” Aby said. “People just feel like they’re getting iced out of the process.”
Around $177.8 million of $155 billion in assets managed by the investment board are in Israeli holdings — around 0.11%. They are externally managed by independent third-party firms, according to the SBI. Protesters argue the state has billions more in companies that supply Israel with weapons and equipment. In response to a request for comment on the protests and arrests, the governor’s office noted that even as meetings go online, the board allows comment periods. “There is always an opportunity for public comment at these meetings,” said Claire Lancaster, a spokesperson for Walz. “However, protesters must be lawful and respect public property.”
For more information on this story, visit Here
Image Source: www.twincities.com
