US labor, advocacy groups urge states to reject Tesla's $29 billion Musk pay

(Reuters) -A coalition of U.S. labor unions and progressive advocacy groups urged state financial officers overseeing public pension funds to oppose fresh pay awards for Tesla CEO Elon Musk, warning the excessive cost poses risks to workers' retirement savings. A mix of labor unions and liberal advocacy groups, including the American Federation of Teachers and MoveOn, urged state officials to press asset managers to reject Musk's new pay plans and push for stronger board independence at the EV maker, in a letter exclusively shared with Reuters.