Business Insider – The American Federation of Teachers, a labor union that represents teachers, is going after a bunch of hedge funders who support education reform.
Last week, the AFT released a “watch list” of hedge funds they think are “attacking” their defined benefit plans (DB plans) through their support of various educational reform groups.
Typically, education reform groups advocate replacing DB plans with defined contribution plans to lower costs for schools.
That doesn’t sit well with powerful teachers unions. That’s why last week AFT’s president Randi Weingarten circulated a report called “Ranking Asset Managers” to pension trustees who invest in hedge funds.
The AFT’s report names hedge funders who support education reform organizations that go after their DB plans, while at the same soliciting investments from teachers pensions.
