wheeling and dealing

In new arrangement, teachers' pensions to fund infrastructure

President Bill Clinton was joined by AFT President Randi Weingarten (behind him) and other union and city officials today to announce a $1 billion investment of the city's teacher pension fund into Hurricane Sandy recovery projects.

One billion dollars of the city’s teacher pension fund will be used to finance construction and repair projects for city roads, bridges, and homes, President Bill Clinton and other officials announced Thursday.

Clinton joined UFT President Michael Mulgrew, AFT President Randi Weingarten, City Comptroller John Liu, and U.S. Secretary of Housing and Urban Development Shaun Donovan to announce the pledge, which Clinton called “a remarkable commitment” to “properly rebuild in the aftermath of Sandy.”

“This storm exposed weaknesses in our infrastructure that must not only be repaired, but we must rebuild in a different way,” said Donovan, who is now in charge of federal Sandy recovery efforts.

This will be the first time the city’s teacher pension funds are used for infrastructure projects, Liu said, even though the idea has been around for years.

“There’s always been apprehension about, is it going to work, is it potentially a vicious circle? So what I’ve seen is everybody is waiting for somebody else to do it, and therefore nobody does it. I’m very proud that, in this case, New York City is taking the lead,” Liu said after the announcement.

Until now, funds in the Teachers’ Retirement System have all been invested more traditionally, in stocks and bonds and other financial products. Under the new arrangement, the pension fund’s investment will support the construction of projects such as bridges or housing complexes that generate revenue, through tolls and rent or mortgage in those cases. Those revenue streams will return funds to the pension system over time.

Liu wouldn’t predict the rate of return, but he said he was confident that the investments would “earn good returns” and said that each project would be evaluated individually. The California State Teachers’ Retirement System has done something similar in the past two years, pledging to invest $750 million in infrastructure projects — though that’s less than one half of 1 percent of its total $152.5 billion. Weingarten said today that California is starting to see “real returns” from those investments.

Liu said no decisions have been made about which projects would be funded. But Clinton pointed to his foundation’s work to rebuild storm-safe and eco-friendly buildings in New Orleans after Hurricane Katrina as an example of the possibilities.

The improvements likely will not include the construction of new schools, since the focus so far has been on projects that will generate revenue, Liu added. All but six of the dozens of school buildings that were damaged by the storm have since reopened.

The pledge, which the city Teachers Retirement System agreed to last week, is part of a larger project of the Clinton Global Initiative to encourage the use of pension funds for infrastructure investments, which began in 2011. The $1 billion amounts to just over 2 percent of the $46 billion Teacher Pension Fund.

Clinton clearly shared the enthusiasm of the other officials, who were effusive in their praise for each other’s work. After everyone else had spoken, he could not resist going up to the microphone one last time.

“I think it’s great that teachers are leading the way here,” Clinton said.

What's Your Education Story?

As the 2018 school year begins, join us for storytelling from Indianapolis educators

PHOTO: Dylan Peers McCoy/Chalkbeat
Sarah TeKolste, right, and Lori Jenkins at a Teacher Story Slam, in April.

In partnership with Teachers Lounge Indy, Chalkbeat is hosting another teacher story slam this fall featuring educators from across the city.

Over the past couple of years, Chalkbeat has brought readers personal stories from teachers and students through the events. Some of our favorites touched on how a teacher won the trust of her most skeptical student, why another teacher decided to come out to his students, and one educator’s call to ramp up the number of students pursuing a college education.

The event, 5:30 p.m. Thursday, Sept. 13, is free and open to the public — please RSVP here.

Event details:

5:30 p.m. to 7:30 p.m.
Thursday, Sept. 13, 2018
Tube Factory artspace
1125 Cruft St., Indianapolis, IN 46203
Get tickets here and find more on Facebook

More in What's Your Education Story?

School safety

Hiring more security officers in Memphis after school shootings could have unintended consequences

PHOTO: Jahi Chikwendiu/The Washington Post/Getty Images

Tennessee’s largest district, Shelby County Schools, is slated to add more school resource officers under the proposed budget for next school year.

Superintendent Dorsey Hopson earmarked $2 million to hire 30 school resource officers in addition to the 98 already in some of its 150-plus schools. The school board is scheduled to vote on the budget Tuesday.

But an increase in law enforcement officers could have unintended consequences.

A new state law that bans local governments from refusing to cooperate with federal immigration officials could put school resource officers in an awkward position.

Tennessee Education Commissioner Candice McQueen recently reminded school personnel they are not obligated to release student information regarding immigration status. School resource officers employed by police or sheriff’s departments, however, do not answer to school districts. Shelby County Schools is still reviewing the law, but school board members have previously gone on the record emphasizing their commitment to protecting undocumented students.

“Right now we are just trying to get a better understanding of the law and the impact that it may have,” said Natalia Powers, a district spokeswoman.

Also, incidents of excessive force and racial bias toward black students have cropped up in recent years. Two white Memphis officers were fired in 2013 after hitting a black student and wrestling her to the ground because she was “yelling and cussing” on school grounds. And mothers of four elementary school students recently filed a lawsuit against a Murfreesboro officer who arrested them at school in 2016 for failing to break up a fight that occurred off-campus.

Just how common those incidents are in Memphis is unclear. In response to Chalkbeat’s query for the number and type of complaints in the last two school years, Shelby County Schools said it “does not have any documents responsive to this request.”

Currently, 38 school resource officers are sheriff’s deputies, and the rest are security officers hired by Shelby County Schools. The officers respond and work to prevent criminal activity in all high schools and middle schools, Hopson said. The 30 additional officers would augment staffing at some schools and for the first time, branch out to some elementary schools. Hopson said those decisions will be based on crime rates in surrounding neighborhoods and school incidents.

Hopson’s initial recommendation for more school resource officers was in response to the school shooting in Parkland, Florida, that killed 17 people and sparked a wave of student activism on school safety, including in Memphis.

Gov. Bill Haslam’s recent $30 million budget boost would allow school districts across Tennessee to hire more law enforcement officers or improve building security. Measures to arm some teachers with guns or outlaw certain types of guns have fallen flat.


For more on the role and history of school resource officers in Tennessee, read our five things to know.


Sheriff’s deputies and district security officers meet weekly, said Capt. Dallas Lavergne of the Shelby County Sheriff’s Office. When the Memphis Police Department pulled their officers out of school buildings following the merger of city and county school systems, the county Sheriff’s Office replaced them with deputies.

All deputy recruits go through school resource officer training, and those who are assigned to schools get additional annual training. In a 2013 review of police academies across the nation, Tennessee was cited as the only state that had specific training for officers deployed to schools.