The $650m (£458.5m) Ohio State Highway Patrol Retirement System (HPRS) is searching for a disability benefits consultant.
Dick Curtis, the fund's executive director, said that the search will close at the start of August and that a decision will be made on August 16. The chosen consultant will assist the HPRS by reviewing the fund's current policies on processing, deciding and implementing disability pension benefits for HPRS members.
The chosen candidate will also review the current practices of other similar public pension funds regarding disability pension benefits. The consultant will have to provide a final report containing recommendations for improving the fund's current procedures for the processing, deciding and implementation of disability pension benefits.
Additionally, the fund is going to conduct an asset liability study (ALS) in September. Callan Associates will assist. In May, Curtis told IPN that the fund might put new mandates up for tender later this year, after the completion of the ALS.
Curtis also revealed that the fund will select a new broker for its 15 asset managers on August 16. Currently, the fund is using a commission recapture program for its US equity managers. The new appointment will replace that program.
By Geoffrey Ho
The Department for Work and Pensions (DWP) will develop and test new ways to include 4.8 million self-employed workers in pension savings.
Opt-out rates at the end of June 2018 "remained consistent" with levels before the April contribution rate increase, according the Department for Work and Pensions (DWP).
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb next year.
The Financial Reporting Council (FRC) should be abolished and audit and advisory businesses should be split into separate entities to improve the sector for both savers and investors, two reports published today say.