Press Releases

Today, Education and Workforce Committee Chairman Tim Walberg (R-MI), along with Reps. Rick Allen (R-GA), Kevin Kiley (R-CA), Virginia Foxx (R-NC), Glenn Grothman (R-WI), Burgess Owens (R-UT), Mary Miller (R-IL), Bob Onder (R-MO), Michael Baumgartner (R-WA), Mark Harris (R-NC), and Randy Fine (R-FL), commenced an investigation with an initial inquiry addressed to Rebecca Pringle, President of the National Education Association (NEA), questioning whether the union may be profiting from members’ retirement investments through questionable arrangements with financial vendors.

In the letter, the Members write: “The [Committee] is investigating whether the [NEA] and its wholly controlled subsidiary, NEA Member Benefits (NEA MB), have profited at the expense of its union members by steering them into high‑fee retirement products marketed through the NEA Retirement Program (Program).”

The Members continue: “NEA-chartered state education associations likewise profit when union members enroll in the endorsed products. NEA MB pays these associations ‘up to $15 for each new participant and up to $0.80 per year for each ongoing participant’ in certain NEA‑sponsored financial service programs with a minimum of ‘up to $10,000 per year to each such state association.’ Such per‑capita incentives create concerning conflicts of interest and cast doubt on whether union members are receiving impartial advice about their retirement savings.”

The Members go on to write: “The Committee is committed to protecting the financial well-being of America’s educators and ensuring that any endorsement arrangements operate with full transparency, in the best interests of union members, and that union officials meet their legal fiduciary responsibilities.”

The letter concludes by requesting NEA financial records, including asset totals, investment performance, audited financial statements, policies on conflicts of interest, vendor due diligence, fiduciary duties, and documentation of NEA MB’s decision-making.

Read the full letter here.

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