4th Avenue, Brooklyn. N.Y. Marathon. Photo credit: Fred Klonsky
Increasingly, school officials throughout the country are moonlighting for education firms that sell everything from textbooks and software to professional development services.
And in many cases, these same companies are also doing business with the taxpayer-funded districts those officials oversee.
Experts say the trend is troubling. Not only does it create a conflict of interest or the appearance of one, it can also lead to something far more serious. Catalyst.
In very short order, we citizens of Illinois will face the issue of whether the state of Illinois meets federal standards in meeting its “safe haven” for federal employer tax benefits after shorting the state employees.
In other words, Illinois makes a significantly lesser payment to the state workers’ retirement system than it would need to with Social Security because it meets – or used to – federal thresholds in eventual pension obligations; on the other hand, now Tier II employees pay more and get less than the expected levels.
The General Assembly shirked its first duty to fund the pensions, then put it on someone else, and now may be called into question – and they are we. John Dillon.
Social-impact investing is gaining more prominence as brokerages like Merrill Lynch tailor programs for investors who want to build portfolios that better reflect their values. Merrill has been selling so-called green bonds to help fund impact-investment projects such as those related to renewable energy, while also helping clients craft portfolios of mutual and exchange-traded funds that align with their values.
“We’re taking a broad view of the impact-investing space and helping the market develop. We’ll watch what clients embrace and what platforms will do well,” said Andy Sieg, head of Global Wealth and Retirement Solutions for Bank of America Merrill Lynch. “We’ll learn how to meet this demand to bring values and investment choices together for clients.” Wall Street Journal.