Rally at San Francisco's Transamerica Building Unveils 'The Truth About Aegon'

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International Brotherhood of Teamsters

Jun 02, 2011, 03:52 ET

Workers Demand Insurance Giant Return Control of Pension Assets to Dutch Dockworkers

SAN FRANCISCO, June 2, 2011 /PRNewswire-USNewswire/ -- Labor and community leaders joined Dutch dockworkers at a rally today at San Francisco's Transamerica building to demand that global insurance giant Aegon return control of Dutch pension assets to Dutch dockworkers and port employers. Aegon is Transamerica's parent company.

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The rally included the U.S. premiere of "The Truth About Aegon," a documentary that was shown on a massive LED screen. It can also be viewed here: http://www.youtube.com/watch?v=aMV11HBIntA.

"Aegon took our pension funds and we want all the money back now!" said Niek Stam, General Secretary of the Dutch dockworkers union, FNV Bondgenoten.

The film, produced by the Dutch dockworkers' pension fund, exposes how corporate greed in the insurance industry aided Aegon in taking control of pension funds that were supposed to help Dutch workers and employers. Groups organizing the rally included the Teamsters Union, the International Longshore & Warehouse Workers Union (ILWU), the San Francisco Labor Council and FNV Bondgenoten.

"The Teamsters are proud to stand in solidarity with our brothers and sisters at the Dutch ports," said Rome Aloise, Teamsters International Vice President and President of Teamsters Joint Council 7. "Aegon must do the right thing and return control of the pension assets to the Dutch dockworkers."

Teamsters-affiliated pension and benefit funds have more than $100 billion in assets, and contract insurance and financial services from Aegon and its U.S.-based subsidiary, Transamerica.

"Corporate greed is out of control, which is why we're helping the Dutch dockers today and supporting other workers at home and around the world," said ILWU International Vice President Ray Familathe.

SOURCE International Brotherhood of Teamsters