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GM, pension funds, and the temptations of big pots of money

OCTOBER 15, 2019 | by Elizabeth Bauer | FORBES

Tom DiNapoli is a politician; but as a trustee of the New York State Retirement Fund, he also has a fiduciary duty to the pensioners … He claims in his letter that he is writing as an expression of that duty, seeking as a concerned shareholder to ensure that his fund’s investment does not lose value. But his explicit support of striking workers belies that claim, and makes it clear that, quite to the contrary, he is placing his political interests above his duty to those fund participants.

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