INCLUDING: US - Indiana teachers pension increase supported; UK - New staffer at Buck; US - New chair for LASERS
Legislation to increase pensions for members of the Indiana Teachers' Retirement Fund has been approved in the Indiana House. Members of the Indiana House unanimously supported House Bill 1019, which provides a cost-of-living adjustment (COLA) for members, survivors and beneficiaries of the TRF. The legislation, if approved by the Senate, will provide a two-percent increase for the pensions of teachers who retired before 2000 and a one-percent increase to those who retired between 2000 and 2006.
UK - New staffer at Buck
Buck Consultants has appointed Mark Mayhew as principal and sales consultant. Mayhew joined from Mercer and will be based in London.
US - New chair for LASERS
The governing body of the Louisiana State Employees' Retirement System (LASERS) has elected new trustees to the board. Sheryl Ranatza was elected as board chair, Trudy White, was elected vice chair. The board is composed of 12 members. Nine trustees are elected by active and retired members of LASERS.
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.