Chicago Teachers’ Pension Fund to divest from companies that run immigration detention centers

Citing social and fiscal responsibility, the Chicago Teachers’ Pension Fund is divesting its holdings in private prison companies that operate immigration detention centers.

The fund’s board voted unanimously Thursday to unwind about $548,000 invested in a fund with positions in two private prison companies, said Jay Rehak, president of the $10.8 billion pension fund.

Rehak said the move is a response, in part, to the Trump administration’s “zero tolerance” immigration policy, which took effect in May and resulted in the separation of more than 2,000 children from their parents at the Mexican border. President Donald Trump rescinded the family separation policy through an executive order following a widespread public backlash.

“You have these detention centers ripping children away from their parents for profit,” Rehak said Monday. “To make money on human misery, that’s not really what Chicago teachers are all about.”

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Courts,Region: AH,Region: Suburbs

via Crime – Glenview Announcements

August 20, 2018 at 05:21PM

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