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Teachers Union adds Rauner’s ex-firm to list of pension enemies

The American Federation of Teachers is urging public pensions to review investments with Chicago-based GTCR, a private-equity firm where Rauner was chairman before stepping down in 2012.

By Martin Z. Braun | Updated on March 12, 2014

March 11 (Bloomberg) — The second-largest U.S. teachers union has added a firm formerly headed by Bruce Rauner, a Republican leading the race in next week’s Illinois gubernatorial primary, to its enemies list.

The American Federation of Teachers is urging public pensions to review investments with Chicago-based GTCR, a private-equity firm where Rauner was chairman before stepping down in 2012. He supports shifting government workers to 401(k)- type plans from traditional defined-benefit pensions, which give retirees a payout based on years of service and final salary.

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