UK - The City of Elizabeth New Jersey has renewed its contract with CitiStreet's Retirement Services Division for its 457(b) retirement plan.
The plan currently has approximately $35m in assets. City of Elizabeth employees can choose to invest in either annuities or mutual funds through the CitiStreet plan, and they can elect to receive investment advice through the CHART Program, an investment advisory service offered by CitiStreet RSD.
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach?
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
While the new powers are welcome, most respondents doubt it will make a difference to the outcomes for members, Pensions Buzz respondents say.