Retirement Security: How Do Investment Managers Stack Up?

by Tula Connell, Mar 27, 2006

With the retirement security of working families under attack as never before, Daniel Pedrotty from the AFL-CIO Office of Investment notes a timely new AFL-CIO report, Retirement Security: How Do Investment Managers Stack Up?

A new AFL-CIO report aims to help investors keep track of which firms are involved in anti-retirement security efforts, and supplement their own information gathering. The AFL-CIO Office of Investment encourages direct dialogue between investors and service providers about these topics:

Many financial firms have overtly or covertly supported recent efforts to privatize Social Security and to convert traditional defined-benefit pensions to 401(k)-style plans.

For some firms that could gain financially from converting retirement systems, such support creates a conflict of interest with many clients concerned about preserving secure retirement programs. 

The list of companies with direct links to retirement security privatization includes American Financial Group, Charles Schwab, Citigroup (Smith Barney), Dimensional Fund Advisors, Dodge & Cox Funds, DUNN Capital Management, Fidelity Investments, JP Morgan Chase, Marsh & McLennan Cos. (Mercer), Raymond James Financial and Wachovia (Evergreen).

Click here, or view the updated report at WallStreetgreed.org.

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