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PSI affiliate the American Federation of Teachers is encouraging pension funds to consider avoiding private equity investments in companies that profit from mass incarceration.
Source: PSI
A new publication by the ILO confirms PSI’s long-held position: the privatisation of public pension systems has delivered vast returns to a tiny financial elite while diminishing the incomes of workers in retirement.
WASHINGTON—The American Federation of Teachers is urging public pension trustees with more than $3 trillion under management to review their holdings in the wake of a new report exposing hedge funds and corporations that are profiting off the jailing of immigrant families in private prisons.
Source: American Federation of Teachers
This ILO book documents the under performance of private mandatory pensions in fifteen countries, and abstracts lessons for governments intending to improve their national pension systems.
This is the AFT’s second report in a two - part series highlighting the investment risks to pension funds and other investors whose portf olios contain investments in the private prison industry or contractors who provide services to immigrant detention centers. Part 1 of this series, “Private Prisons, Immigrant Detention and Investment Risks,” released in August 2018, identifies investment managers, namely hedge fund managers, who invest milli ons of dollars in companies that profit from detention facilities that house separated immigrant families and the risks those investments pose to our members’ retirement security. Part 2 of this series focuses on the companies and asset managers, namely private equity firms, that profit from and fuel the mass incarceration of black and brown people in the United States.
This report is part 1 of a special 2-part report issued by the American Federation of Teachers (AFT) highlighting the investment risks to pension funds and other investors whose portfolios contain exposure to the private prison industry or contractors who provide services to immigration detention centers.