U.S.—Many are excited about the prospect of a vaccine to end the COVID-19 pandemic, but one group is adamantly opposed to the vaccine: teachers unions. Their fear is that widespread availability of the vaccine could lead to teachers once again being forced to teach.
Continue reading “Teachers Union Opposes Vaccine As It Might Force Teachers To Teach Again”
Taxpayers take note…you could get a much bigger tax bill than you expect.
The California State Teachers’ Retirement System (CalSTRS) recently announced that it may move 12% of its assets, or $20 billion, out of stocks and bonds.
CalSTRS is the second-largest public pension fund in the U.S. It manages roughly $191 billion for 868,000 teachers in California.
CalSTRS made this announcement immediately after the U.S. stock market’s sharp selloff last month. Casey readers know the S&P 500 plunged 11% in six days, its worst selloff in more than four years.
While we can’t know for sure, CalSTRS likely lost billions in the selloff. The fund’s officers said they want to put more money in assets that “will perform well if the markets tumble.” They’re considering U.S. Treasuries, hedge funds, and other alternative investments.
CalSTRS isn’t the only pension fund scrambling to reduce risk. The Wall Street Journal reports:
Continue reading “Pay Your Fair Share (to the Teachers’ Union)”