US - Kentucky governor Ernie Fletcher said he was prepared to call a special session if the two houses in the capitol could not reach an agreement over pension reforms.
Fletcher claimed immediate action would save taxpayers millions of dollars. “This matter is too important to let personalities and politics stand in the way,” he said.
Fletcher committed US$24m of the state’s surplus into state retirement funds in 2006 with another $50m recommended in 2007.
The governor commended the senate for enthusiasm and hard work and offered the leaders of both chambers his staff’s support to push forward the issue.
The US senate recently approved the sale of $800m in bonds to bolster the state’s pension funds, including $540m to the Kentucky Retirement System and $290m to the Kentucky Teachers Retirement System.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.