WASHINGTON, D.C. – The Education Intelligence Agency reports that the National Education Association may be facing pension payout obligations of nearly $700 million.
According to EIA, the NEA staff pension covers almost every permanent employee at the union’s Washington, D.C., office and some employees of state and local affiliates.
EIA reports that the recent loss of NEA members is leaving the union with less dues revenue, and may worsen the union’s ability to fund its own pension.
SOURCE: Education Intelligence Agency, “Is NEA Surfing Its Own Pension Tsunami?” July 30, 2012
FURTHER READING: Michigan Capitol Confidential, “Shifting School Employees to a 401(k) Is The Most Important Thing,’” July 3, 2012