US - Proposals to tackle California's pension shortfall have been introduced to the California State Legislature.
Governor Arnold Schwarzenegger established the commission in December 2006 to identify the extent of unfunded liabilities in public sector pension and retiree health care obligations, review and analyse options for addressing them and recommend a plan to the legislature and governor.
A 212-page report, released on on 7 January 2008, contained a comprehensive, eight-point plan containing 34 specific recommendations.
The Hernandez bill (AB 1844) aims to increase transparency with regard to public employee benefits through enhanced reporting requirements and to curb fraud in the various retirement systems by providing those systems with the tools they need to detect and prosecute fraudulent actions.
The Wiggins bill (SB 1123) is focused on increasing transparency and oversight of public employee benefits.
Wiggins said: "The commission report reflects the fact that this diverse group was able to come together around some very important issues.
"I am optimistic that implementation of these key recommendations will help stabilise employers' costs with regard to worker pensions and retiree health care - and do so without negatively impacting retirees."
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.