News Sections
ISTA Hopes To Regain Control Soon
Updated May 5, 2013 12:06 AM | Filed under: Network Indiana
 Print    Archive    RSS

(UNDATED) - The Indiana State Teachers Association expects to regain control of its own affairs within "a matter of months."

The ISTA called in the parent National Education Association last week to take over day-to-day operations amid state and federal investigations of its disability trust fund.

The union will continue to handle state-level issues itself, including lobbying for school funding in the new state budget.

Deputy Director Dan Clark says with the possibility the national union will have to bail out the trust fund, it needs full control of operations to keep the price tag as low as possible.

Former Massachusetts Education Association President Edward Sullivan will serve as a trustee overseeing the ISTA until the trust fund situation is resolved.

The FBI, Secretary of State Todd Rokita and The Indiana Department of Insurance are investigating whether a Morgan Stanley fund manager made an excessive number of trades in the disability fund's portfolio.

An overwhelming majority of that portfolio was in high-risk investments, and losses on those investments have left the ISTA with an unfunded liability estimated at $68 million.

« Previous Article
Next Article »

 Print    Archive    RSS

Have a question or comment about a news story? Send it to

Advertise with 1340 AM WBIW
Find more about Weather in Bedford, IN
Advertise with 1340 AM WBIW

1340 AM WBIW, Bedford's Place To Talk. Serving Lawrence and surrounding counties since 1948!

© 2018 Ad-Venture Media, Inc. All Rights Reserved. and Listen Live Powered by HPC

Advertise  |  Careers  |  Contests  |  About  |  Feedback  |  Public File