The City of Wichita's Pension Management Office (PMO) has selected Intrust Bank to provide its deferred compensation plan with administration, recordkeeping and education services, as well as investment products.
Kansas-based Intrust was selected to provide services to the deferred compensation plan from a shortlist of six, according to Toni Wenger, assistant pension manager at the PMO. She added that Intrust’s contract will run for one full year, with four one year renewal options.
The City of Wichita's PMO is also responsible for the Wichita Retirement Systems, consisting of the Wichita Employees' Retirement System (WERS) and the Police & Fire Retirement System of Wichita (PFRS). The WERS is composed of two defined benefit (DB) and a defined contribution (DC) scheme, whilst the PFRS is made up of three DB funds.
By Geoffrey Ho
The HSBC Bank UK Pension Scheme is to invest £250m in renewable energy infrastructure, such as solar plants and wind farms, with Greencoat Capital.
With Brexit talks breaking down late on Sunday night in Brussels over the Irish border, investors may be wondering how to best navigate the next few weeks and months. Our assessment is that a number of UK assets have already priced in a significant chance...
Pension freedoms could generate as much as £1.9bn a year in tax revenue for the next 10 years, according to research by the Pensions Policy Institute (PPI).
The Pension Protection Fund (PPF) has conceded it does not have "all the data we need to calculate" the impact of last month's ruling that some benefits may be unlawful.