(The AFL-CIO released the following statement on April 2.)
The ULLICO board’s decision to release the special report by former Governor of Illinois James Thompson is the right one for ULLICO shareholders and for the well-being of this financial institution. We called for the conduct of an independent inquiry by qualified outside experts, just as we have at major publicly held corporations, because we believe there must be one standard of corporate accountability.
As a ULLICO shareholder, the AFL-CIO supports the findings of the Thompson report and believes that members of the board who profited from the trades in question should make the institution whole. When the labor movement is fighting as never before to protect workers’ retirement savings, ULLICO must live up to the standards we ask others to meet.
ULLICO has a unique and important mission of serving working families and their unions. It is our hope that ULLICO can move forward to best fulfill its mission and inspire confidence in its financial health and future.