Shocking! Union Advice Costing LA Teachers
LAT: Labor union’s advice channeling their members into savings plans with substandard returns and high expenses
Why would a labor union direct its members to under-performing plans with some of the most expensive retirement plans available?
…the unions endorse investment providers, even specific products, and the companies reciprocate with financial support. They sponsor union conferences, advertise in union publications or make direct payments to union treasuries.
Worse still, these payoffs are kept secret from the teachers or disguised as other types of payments.
The conflict of interest coming at the expense of their members is sadly not that surprising, but it is shameful nonetheless.
tags: utla
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