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 stateā€™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