Pension Funds Press Pew to Cut Arnold Foundation Ties

Retirement funds for government employees are calling on the Pew Charitable Trusts to stop taking money from the Laura and John Arnold Foundation, which supports efforts to overhaul public pension programs, Pensions & Investments reports.

The Houston-based foundation is contributing up to $4.85-million to finance Pew’s Public Sector Retirement Systems research project under a three-year contract that runs out in December. Pension groups are pressuring Pew to reject additional money from the philanthropy, which has funded organizations that oppose public defined-benefit plans.

“Pew’s relationship with the Arnold Foundation does not pass the smell test,” said Meredith Williams, executive director of the National Council on Teacher Retirement. Pew officials did not return calls for comment.

Last month New York public television station WNET canceled a series of news reports on public pensions that was financed by the Arnold Foundation and returned the foundation’s $3.5-million grant.