Apr 20, 2007

Do You Have A 403(b)

If so this article by Neil Weinberg on Forbes.com is a must read. From the article:

“Lies, kickbacks, union corruption and tens of millions of dollars in ill-gotten gains are among the accusations laid out in a lawsuit that's likely to strike fear in the hearts of labor leaders and financial executives across the country.”

“The union received as much as $3 million annually for its endorsement and told its members "we've done all the background work so you don't have to!" In total, 53,000 union members invested over $2 billion in the plan. Expenses ran several times those of lower-cost alternatives.”