US -The California Public Employees' Retirement System (CalPERS) has begun its search for a senior portfolio manager to lead the fund's corporate governance efforts.
The manager would also be responsible for the process of identifying and recommending companies for the system's annual Focus List program and monitoring performance.
CalPERS has also announced the appointment of Donna Lum as assistant executive officer of the pension fund's member and benefit services branch.
Lum will be the senior executive overseeing the administration of retirement benefits and services to 1.6 million active and retired California state, public school, and local government employees.
Prior to her appointment as chief of the CalPERS benefits services division in December 2004, Lum was chief of the CalPERS data centre.
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Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
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