By Lauren Wasescha and Mary Ford
St. Paul, MN – On Thursday, March 26, 20 members of the MN Anti-War Committee (AWC)turned out to a midday rally outside Minnesota’s Retirement Systems Building, where Minnesota’s State Board of Investment (SBI) was holding its quarterly meeting.
Members of the AWC gave public testimony at the meeting. AWC members demanded divestment from apartheid Israel and weapons companies, but focused particularly on Palantir, a company whose AI surveillance software has directly facilitated human rights violations in Palestine, Iran, and Minnesota itself. As of June 2025, the book value of the SBI’s investments in Palantir was $55 million.
This marked the board’s first open quarterly meeting in nearly a year, and the first attendance of the AWC since 11 of its members were arrested during a sit-in at the Retirement Systems Building last fall — a sit-in prompted by the board declining to hold in-person, public hearings over many months. Public admittance to the meeting room was limited to just eight members of the community, not including speakers.
As of the 2025 fiscal year, Minnesota SBI managed a total of $161 billion in assets. It is funded by Minnesota public employees’ salary contributions and taxpayer dollars, and serves workers in the Teachers’ Retirement Association, Minnesota State Retirement Association, and many of the union members of AFSCME, SEIU, Education Minnesota, and the Minnesota Association of Professional Employees (MAPE), among others.
The board emphasizes their fiduciary responsibility to pension holders and evaluates what is an “acceptable risk” investment. Governor Tim Walz serves as the board’s chair, along with Minnesota Attorney General Keith Ellison, State Auditor Julie Blaha, and the Secretary of State Steve Simon. The SBI currently invests over $586 million in weapons companies, including Elbit Systems, Raytheon, Lockheed Martin and Boeing.
“This board has defended its continued investment in death-dealing companies like Palantir with the claim that it is a wholly apolitical body that merely does its financial duty to the state. But I have to ask, in what sense is funding the Trump administration’s agenda an apolitical act?” questioned Andrew Josefchak, union member and organizer with the Anti-War Committee. During the meeting Josefchak submitted into the record thousands of physical signatures collected from constituents who agree that Minnesota must divest from Israel and companies that facilitate war and genocide.
Public employee and MAPE member Kevin Snyder testified during the meeting and asked how the board could claim to be taking into account the interests of Minnesotans while ICE actively weaponizes Palantir tech against residents of the state.
While the AWC’s DivestMN campaign specifically demands that the SBI divest from entities and companies complicit in Israel’s crimes of genocide and apartheid in Palestine, its researchers have found that many of the same companies are complicit in ICE violence in Minnesota and across the country. Palantir is contracted by Israel’s Ministry of Defense, ICE and the U.S. military. Palantir’s products track populations on a massive scale and maintain large databases of intrusive personal information. Its software can be integrated into surveillance and weapons systems, including drones, and company executives have told concerned staff that Palantir places no restrictions on client use of its tools.
Even before October 7, the AWC’s DivestMN campaign demanded that the SBI divest from Israel (in the form of Israeli stocks and bonds) and weapons manufacturers that directly enable Israel’s destruction and genocide in Palestine. The same corporations are now profiting off of the U.S.-Israeli war on Iran, which commenced with the bombing and murder of at least 175 school children in Minab.
AWC member Naveen Borojerdi, who testified before the SBI, is an Iranian American public employee and a member of MAPE. Borojerdi urged the board “to do better,” adding, “My people have a right to self-defense against joint American/Israeli terrorism, and I have the right to not have my own money facilitating that same terrorism against my own people.”
Jill Schurtz, the executive director of the SBI and its chief investment officer, admitted during the March 26 meeting that the “conflict in the Middle East” is “eroding gains” in their portfolio. “War destroys the working class,” Andrew Josefchak said as he took the mic outside the building and shared this information with demonstrators who had not been allowed into the meeting.
Throughout the meeting, members who were refused entry were heard and seen chanting from outside the first-floor windows. The silence and order in the room, maintained by the presence of no less than a half dozen police and state patrol officers, was broken by continuous calls directed at the SBI from outside: “Money for murder? No! Money for workers? Yes! Money for schools? Yes! Money for Palantir? No!”
The AWC will maintain their presence at SBI meetings until total divestment is reached.
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