Nation's Largest Union Calls on Pension Boards to Stop Risking Retiree Pension Money, Launch Effort at Wisconsin Pension Board Meeting

MADISON, Wis., Sept. 10 Activists picketed outside theState of Wisconsin Board of Investment (SWIB), calling on the board to stoprisking state workers' pension fund money during the fund's monthly meetinghere Wednesday, Sept. 10. The protestors are targeting pension fundinvolvement in a Lazard-affiliated fund which owns Atria Senior Living, one ofthe largest senior living chains in the United States. The Lazard-affiliatedfund has consistently underperformed and has even lost millions since itsinception in 1998.

Wisconsin's is just one of several pension funds in the United States,Canada and Europe invested with a Lazard-affiliated real estate fund whichowns Atria Senior Living. Atria Senior Living has been accused of violatingworkers' civil rights and cited by state authorities for serious resident careproblems.

Atria has also become a target of increasing scrutiny by state regulatorsand elected leaders for problems ranging from short-staffing and poor qualitycare to consumer price-gouging. Atria workers have filed numerous federalcharges against the company for threatening, intimidating, harassing, andretaliating against workers for trying to form a union.

Today's protest launched a new international effort by the largesthealthcare union in the United States, SEIU Healthcare, and The Campaign toImprove Assisted Living to call on these pension funds to hold Lazardaccountable to investors and working families. In the past, several of thesepension funds have successfully pushed the Lazard-affiliated fund to makechanges.

Activists will also protest during upcoming meetings of the IllinoisMunicipal Retirement Fund and the Pennsylvania Public School Employees'Retirement System later this month.

Here is a partial list of pension funds and others invested in Lazard-affiliated Atria Senior Living:La Caisse de Depot et Placement du Quebec (Quebec, Canada) PGGM (The Netherlands) N.Y. State Retirement Fund ("New York Common") Illinois Municipal Retirement Fund (IMRF) Pennsylvania Public School Employees' Retirement System (PSERS) Colorado Public Employees Retirement Association (COPERA) State of Wisconsin Investment Board (SWIB) Utah Retirement System Virginia Retirement System General Motors Asset Management Government of Singapore Investment Corp. More at www.improveassistedliving.org/who-owns-atria-senior-living/

SOURCE SEIU Healthcare

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