US - A number of audits will be carried out to identify possible abuse of the state pension system by six sanitary districts on Long Island.
State Comptroller Alan Hevesi (pictured) said: “Our examination will determine if the six sanitary districts that participate in the retirement system are reporting retirement credits accurately, so we can ensure that taxpayers are not paying for pension benefits to which employees are not entitled.”
The audits, which start immediately, come as a spin off from earlier inspections that uncovered a lack of controls and fiscal management at three districts in the New York State and Local Retirement System (NYSLRS).
The auditors assigned will determine, among other criteria, whether the districts have been accurately enrolling employees to membership and notifying part time employees of their right to membership as required by the Retirement and Social Security Law.
The six districts that participate in the NYSLRS and will be audited are: Hempstead Sanitary District 2, West Hempstead Sanitation District 6, Lawrence (Hempstead) Sanitary District 1, Oceanside Sanitary District 7, Roslyn Garbage District (North Hempstead) and Hempstead Sanitary District14.
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.