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A Lesson in Stealing Pensions as National Teachers Union Copies N.Y. Scam
The New York Post
Oct. 24, 2007 Excerpt: Rather than steering members toward the best retirement plans, the NEA's leadership is quietly accepting payments to endorse a low-return, high-fee plan that eats away at the savings of the nation's public schoolteachers. Not including management fees, the NEA's only officially endorsed 'retirement program' - the Security Benefit Life Insurance Corporation's Valuebuilder annuity - charges 0.9 percent to 2.6 percent a year. Throw in management fees, and the least expensive option costs a teacher 1.73 percent of her account balances each year, while the most expensive costs 4.85 percent. MORE >> |
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