Teachers union adds three firms to list of DB busters
BY ROB KOZLOWSKI |
The American Federation of Teachers added three firms to its list of money managers and others that the union claims are assisting or supporting the elimination of defined benefit plans despite accepting billions of dollars of business from them.
The three firms — Aon PLC, GTCR LLC and Highbridge Capital Management — join 26 others first listed in April 2013 in the report “Ranking Asset Managers: A Retirement Security Report on Money Managers for Pension Fund Trustees.”
It is the union's second such report featuring what it calls money managers with top executives who have “contributed to, or sit on the governing board of, an organization that advocates for the replacement of defined benefit plans with defined contribution or cash balance plans.”
The new report will be distributed to pension funds on March 18. Randi Weingarten, president of the Washington-based union, said the union is not suggesting action be taken by boards of trustees; the
 |
| Everyone Has a List |