US - Board member Paul Peltier has resigned from the US$10.9bn School Employees Retirement System (SERS) of Ohio.
Peltier said he decided to quit the board as “the demands of job and family prevent me from devoting the number of hours required to adequately serve the SERS plan participants as a board member”.
Peltier is president of Exeter trust company, a multi-billion dollar trust company, and serves on the company’s board of directors.
He was appointed by former state treasurer Joseph Deters as an investment expert to the SERS board.
His replacement will be appointed by State Treasurer Richard Cordray.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers