Break the Bonds – SMRS

WE WON. Michigan’s SMRS became the first state retirement system in the U.S. to drop all investment in Israel Bonds.

In November 2025, after our year-long Break the Bonds campaign, The Michigan Treasury dropped all State of Michigan Retirement System investments (SMRS) in Israel Bonds. Together, we ended a 30-year relationship between the SMRS and Israel Bonds.

For the first time in 30 years, Michigan’s pension system for roughly half a million public employees, including public school teachers, is free of Israel Bonds.

Our public records request revealed the Michigan Treasury declined to reinvest SMRS funds in a $10 million Israel Bond upon its maturity this November. It has also withheld purchasing any additional Israel Bonds since the launch of our campaign over a year ago. This is a significant victory in a growing nationwide trend. State and local governments are increasingly declining investments in Israel Bonds in response to public opposition to Israel’s genocide.

Michigan came together for Palestine. Thousands of residents, including public employees & retirees, and 57 organizations including multiple public employee unions, demanded the Michigan Treasury divest our taxpayer-funded public pensions from Israel Bonds. Thank you for taking action alongside us. Every call, email, public comment, and petition signature mattered.

As of June 2026, public records indicate the State of Michigan Retirement System remains free from Israel Bonds.

We commend the Michigan Department of Treasury for dropping Israel Bonds, and we will continue to monitor the SMRS investment portfolio to ensure that Michigan public employees, retirees, and teachers’ retirements are never invested in Israel Bonds.

Michigan’s break the bonds victory in the news!