US - Rob Feckner and Robert Carlson have been re-elected as president and vice president of the CalPERS board of administration.
Feckner was first elected to the board in 1998 while Carlson has been on the board since 1971.
Following his reelection, Feckner said: “I am honoured that my fellow board members chose me to serve a third term as president. Our board’s mission is to protect the financial and health security of our members and retirees, invest wisely, and minimise employer costs.”
Carlson commented: “We face many challenges in the next year, but this board will work tirelessly to protect our defined benefit plan, reduce the rising costs of health care, and assert our rights as long-term shareowners of corporations.
In earlier news, California governor Arnold Schwarzenegger reappointed Tony Oliveira as his local government representative to a four-year term on CalPERS’ board of administration.
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
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