Union Members Are Winning the Fight for Pension Power — And CFA's Dan Nicolai Wrote About It for Labor Notes
Originally published in Labor Notes. Read the full article here.
Union members in states and cities across the country are pushing for a stronger voice in how their retirement savings are invested. And sometimes — they are winning.
That is the opening of a new piece by CFA organizer Dan Nicolai, published this week in Labor Notes. Drawing on examples from California, Oregon, Washington, and Minnesota, Dan makes the case that workers who understand their pension funds are already changing how those funds operate: holding boards accountable, advocating for climate-resilient investments, and pushing back against the billionaire-backed campaign to silence worker voices in the responsible investment space.
A few lines worth sitting with:
"Public pension funds in the U.S. manage $6.7 trillion in investment capital. That amounts to almost 10 percent of the entire U.S. stock market. This capital comes from the deferred wages of 36 million public employees, like teachers, firefighters, transit workers, and health care providers."
And this, from SEIU Local 521 president and CalPERS board member Mullissa Willette:
"Closing our eyes to systemic threats like climate change or failing labor standards isn't 'neutral' — it's a dereliction of duty."
This is the work CFA exists to support and Dan has been at the center of it. If you work with union members, trustees, or organizers who are just beginning to ask questions about their pension fund, this piece is a good place to start.
