Teachers File Suit Over Retirement Fund Kickbacks

Law360, New York (July 17, 2007, 12:00 AM EDT) -- A proposed class of teachers has sued the nation's largest professional organization for allegedly accepting kickbacks in exchange for promoting a retirement plan that was not in its members' best interest.

In their complaint, filed last Wednesday in the U.S. District Court for the Western District of Washington, the teachers accused the National Education Association, an NEA subsidiary and eight NEA executives of breaching their fiduciary duties under the Employee Retirement Income Security Act.

Specifically, the complaint accused NEA of accepting millions of dollars each year...
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