As Gov. Andrew Cuomo seeks tighter rules for lobbying and favor-currying before the state’s pension fund, the New York Public Interest Research Group has compiled a list of the 265 companies that have invested in the pension fund along with how much they’ve spent lobbying the state last year.

The companies spent $31.9 million lobbying the state in 2010. The fund invests about 44 percent, or $26.8 billion, in the companies.

The state retirement fund is one of the largest pension systems in the country. At the same time, the companies spent $2.5 million cumulatively on lobbying state officials. The companies include a who’s who of major firms, banks and insurance companies.


As the public discussion unfolds about what role, if any, lobbying should play in investment decisions, this information provides a window into the resources deployed and the potential influence wielded by major players in the state’s pension fund.

Less than two weeks after former Comptroller Alan Hevesi went to jail for his role in a massive pay-to-play pension fund scandal, Cuomo proposed tight rules for the pension fund and a permanent ban on placement agents and a ban on director contributions to the comptroller from firms and companies that have business before the fund. Comptroller Tom DiNapoli had a ban on placement agents directly lobbying the office since 2009.

Hevesi was sentenced to 1-4 years in state prison after accepting millions in gifts in exchange for investments in the pension fund, a scandal that also included his political operative, Hank Morris.

NYPIRG Pension Fund