Wednesday, October 11, 2006

ING to Give Teachers Refunds

Kathy Kristoff updates us on the problems with the New York State Union 403(b) problems, it looks like their provider, ING will pony up $30 mill to settle claims it misled participants and didn't disclose backroom deals. Of course, ING will not be admitting any wrongdoing. NYSUT settled for about $3 million early this year. Another story on the topic can be found here.

Its amazing that the NEA Valuebuilder product has never been investigated, it is much worse (or at a minimum the same!).

ScottyD
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