US - Kentucky governor Ernie Fletcher could be forced to call a special session to resolve mounting pension debts after the House and Senate again failed to reach an agreement on pension reform yesterday.
The state retirement system is struggling to match rising pension liabilities, and Fletcher stressed last week any procrastination in passing reforms would cost taxpayers millions of dollars.
He added: “It is my hope that the House and Senate are close to an agreement on the pension bill. This matter is too important to let personalities and politics stand in the way.
“If they cannot work out their differences I am prepared to call a special session to bring focus for all members on this important issue.”
But despite the latest derailment, local media reports quoted Fletcher as stating a special session could still be avoided.
"They still have the opportunity to look at these bills, to come down here and work it. Now if we don't pass these things, the governor's going to call us back," Fletcher was quoted as saying.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.