US - The $144.8bn CalPERS' fund returned 3.9% for the year to 30 June 2003, generating $4.8bn in profit.
In the same period the $100bn CalSTRS fund recorded its first positive return in three years, 3.4%.
Richard Wohanka is to chair The Pension Superfund's trustee board, working alongside professional firm 2020 Trustees to safeguard members' benefits.
Four people behind a £13.7m cold-calling scam which cost 245 people their savings have been banned from being pension scheme trustees by The Pensions Regulator (TPR).
The Pensions Administration Standards Association (PASA) has launched its latest round of guidance for guaranteed minimum pensions (GMPs).