State Elected Officials Urge New Jersey Pension Funds to Divest from Top ICE Contractor Palantir

State legislators respond to  by national independent research body alleges New Jersey State Investment Council has violated its environmental, social, and governance (ESG) policy by investing in Palantir

Trenton, NJ — New Jersey legislators are calling on the State Investment Council to divest from Palantir. A new report provides the most extensive examination of the New Jersey state pension funds’ investments in Palantir Technologies, one of Immigration and Customs Enforcement (ICE)'s top contractors, and the “tech backbone” for ICE. Palantir Technologies has come under fire recently for its role in developing high-tech surveillance systems for ICE that draw from IRS, Medicaid, and other data to provide “near real-time information” on immigrant targets.

The report, released this morning by national independent research firm Little Sis, details how the State of New Jersey Common Pension Fund D $138,123,659 of Palantir stock indicates that the State Investment Council is “failing to comply with its socially responsible ESG policy by investing in Palantir… and are being exposed to a significant number of material, legal, reputational, and human rights risks as a result of these Palantir investments.”

Legislative and community leaders and labor leaders whose pension funds are invested in Palantir are calling on the State to divest from Palantir.

Senate Majority Leader M. Teresa Ruiz, District 29

"This report makes clear that New Jersey's pension funds are being used to finance technology that puts our communities at risk. Public employees deserve to know that their retirement savings reflect the values of the state they serve — and investing in a company that powers ICE surveillance operations falls far short of that standard. We call on the State Investment Council to act swiftly and divest from Palantir immediately."

State Senator Joe Cryan, District 20:

“The report amplifies what New Jerseyans already believe, we should not be utilizing state resources in any way to fund the offensive and aggressive tactics by ICE. As the report notes, a little more than 138 thousand is invested in Palantir stock, with Palantir's data surveillance and intrusive actions paving the way for many of these ICE raids. Every New Jersey citizen, who values their right to privacy in this technological age, should be concerned by the amount of data Palantir has in one clearinghouse, and what it can be used for. All New Jersey citizens deserve better, and for those reasons, I call on the State Of New Jersey to divest itself of Palantir stock immediately.”

Assemblyman Gary Schaer, District 36

“NJ’s public employees have a reasonable expectation that their hard earned pension dollars will be invested in companies that reflect the ethics and morals of our NJ communities. Today, we have learned that over a hundred million pension dollars are invested in Palantir stock, a company which supports many of the most egregious operations conducted by ICE. I join with my fellow legislators to call for the immediate divestment of the state pension fund of Palantir stock.”

Assemblywoman Annette Quijano, District 20:
“In today’s world, so much of our personal information can be tracked or shared without us ever knowing. The report publicized today by Make the Road underscores the need to ensure that public dollars aren’t supporting companies that take part in invasive data practices—especially those that could be used to identify or target individuals based on their immigration status. We have a responsibility to protect people’s privacy and make sure the State’s investments reflect those values. That is why I introduced bill A2003, legislation that would prohibit investment by State pension and annuity funds in companies engaging in government contracts or business operations infringing on the data privacy of individuals for the purpose of determining immigration status.”

Assemblyman Chigozie U. Onyema, District 28

"Make the Road New Jersey and the LittleSis Public Accountability Initiative released a report calling on the State of New Jersey to reconsider its investment in Palantir. Across our state, teachers, firefighters, and other essential workers are unknowingly tied—through their retirement savings—to a company at the center of ICE’s expanding, rogue immigration enforcement and questionable military operations abroad. The report makes clear that this investment directly conflicts with New Jersey’s Environmental, Social, and Governance (ESG) policy and exposes public pension funds to serious ethical and financial risks. As Palantir deepens its footprint in surveillance and warfare, the question is no longer abstract, it is whether our public dollars reflect our public values. The State Investment Council and its ESG Policy Committee must act with urgency and clarity—reviewing, reconsidering, and ultimately moving away from investments that undermine human rights, erode public trust, and jeopardize our long-term stability."

State Senator Andrew Zwicker, District 16

“As ICE continues to terrorize New Jersey communities, conduct violent raids, and execute lawless detentions, we must ensure that our state is not, even indirectly, supporting those efforts through its investment decisions. The report’s findings regarding New Jersey’s holdings in Palantir demonstrate that these investments conflict with our stated ESG standards and our commitment to responsible governance. When we invest public dollars, we are making a clear statement about our priorities and our principles. We need to divest from Palantir immediately and ensure those principles are upheld."

Dr. Britt S. Paris, Associate Professor, Department of Library and Information Science School of Communication & Information, Rutgers, the State University of New Jersey Executive Council Officer, Rutgers AAUP-AFT:

“ICE has targeted our colleagues, students, and community members with the help of Palantir’s technology suite, including the ELITE targeting system, which has been called the Google Maps of Detention. Palantir CEO Alex Karp has been a frequent critic of American higher education, calling American universities “broken” and telling CNBC earlier this year that “Everything you learned at your school and college about how the world works is intellectually incorrect.” Many of our faculty do not want their pensions invested in this company, and I most certainly object to my pension possibly being invested with Palantir.”