US - Mayor Jerry Sanders (pictured) has nominated Peter Davis and V. Wayne Kennedy to join the board of the US$3.6bn San Diego City Employees' Retirement System (SDCERS).
Once confirmed by city council, Davis and Kennedy will fill the two vacant spots for public appointments, with a third vacancy for a staff designee yet to be announced.
Kennedy is the senior vice president emeritus for business and finance for the University of California system, and Davis a former chairman of the Centre City Development Corporation.
SDCERS is currently saddled with a $1.4bn deficit, and Sanders said: “These two highly qualified individuals will be critical to turning our troubled system around.”
In other news, the San Diego City Council earlier this week postponed a decision on whether to put two of Sanders’ pension reforms on the November ballot after the mayor requested a three week delay to discuss matters further with municipal employee unions.
The first proposal would require voters to approve any increase in employee pension benefits, while the second would allow San Diego to outsource a number of city jobs, such as trash pickup and custodial services.
By Damian Clarkson
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.