Two members of the National Education Association claim, in a lawsuit filed last week, that the organization accepted millions of dollars in payments from Nationwide Life Insurance Company and the Security Benefit Group to endorse high-cost investments to its members. The lawsuit contends that by recommending the investments, the NEA violated its duty to its members. With an estimated 3.2 million members, the NEA is the nation’s largest professional organization.
Source: "Lawsuit Says Teachers Are Overcharged on Annuities" by Gretchen Morgenson, published in The New York Times.
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