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.
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.