US - The City of Los Angeles Deferred Compensation/Pension Savings Plan is searching for a new investment consultant.
The $1.56bn retirement plan will close its search on November 15, and the selected consultant's contract will begin on January 1, 2002. William M Mercer is the incumbent consultant, and has been invited to reapply for the position.
The City of Los Angeles DCP is a tax deferred savings plan governed by Section 457 of the US Internal Revenue Code. For employees who are members of a Los Angeles pension plan, the DCP is a supplemental savings plan to their pension and Social Security.
By Geoffrey Ho
Businesses are experiencing auto-enrolment data error rates of up to 50%, posing questions over the reliability of pension records, Pensionsync says.
A nationwide survey of committee and local pension board members of the Local Government Pension Scheme has revealed high levels of confidence in all areas of their responsibility.
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.