US - The newly formed National Institute on Retirement Security (NIRS) has announced the appointment of Beth Almeida, to act as its first executive director. She will take up this position in early November.
NIRS was founded earlier this year as a research partnership between the US’s largest public sector pensions bodies to conduct pure research and undertake education in the effects of defined benefit (DB) pension schemes in the US.
Almeida said: “There is a need to examine pensions and their retirement security role, as well as the impacts on the financial markets, the economy and the recruitment and retention of public sector workers.”
The bodies that make up NIRS – the Council of Institutional Investors (CII), the National Association of State Retirement Administrators (NASRA) and the National Council on Teacher Retirement (NCTR) – represent pension funds with combined assets of US$7tn.
A NIRS spokesperson told Global Pensions the organisation was not a lobby-group, but rather would investigate the social and economic effects that this level of investment exerted. She said, until now, there had been a lack of quantifiable research on this subject.
Almeida was previously assistant director for strategic resources and senior economist at the International Association of Machinists (IAM) and Aerospace Workers, where she was pivotal in transitioning 40,000 airline workers into the IAW DB scheme.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers