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It's not enough that they're going on strike for raises and more teaching staff, or that they spend their own money on supplies for their students. Teachers might be taken to the cleaners by their retirement plans, too, leaving them short of funds when it's time to leave the schoolroom.
The Wall Street Journal reports that some school district retirement plan administrators could be getting cozy with the providers of those plans, resulting in investments that come with higher fees that eat away at teachers' savings as the years pass.
According to the report, the Securities and Exchange Commission is investigating that very possibility, having "requested information from companies marketing retirement-income products to teachers and from those providing administrative services."
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
