US - City Attorney Michael Aguirre has published a 27 page report on the office of the city attorney site, stating his case to become the chief legal advisor for the San Diego City Employee Retirement System (SDCERS).
The final decision regarding who the chief legal advisor to San Diego’s pension system lies with Superior Court Judge Jeffrey Barton, who had last week ruled SDCERS was independent of the city and should have its own legal representation.
In the publicly available report, Aguirre (pictured) argued that San Diego voters had “made a political decision in 1931 to ensure the city attorney would advise all city departments, including the retirement system,” so that counsel for those entities would remain independent from any appointing authority.
“Based on this history, the city attorney has the authority to reassert his right to act as the independent legal counsel for the SDCERS Board,” he said.
Aguirre has been involved in a year-long bid to become the chief legal advisor, claiming the pension system lacked the public oversight to keep it accountable and. He also claimed that decisions leading to the city's current $2bn deficit were made approved by an in-house attorney at SDCERS.
By Damian Clarkson
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.