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. <\/p>\n
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. <\/p>\n
Typically, education reform groups advocate replacing DB plans with defined contribution plans to lower costs for schools.<\/p>\n
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. <\/p>\n
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. <\/p>\n