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.
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach?
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
While the new powers are welcome, most respondents doubt it will make a difference to the outcomes for members, Pensions Buzz respondents say.