UK - Google, US - CalPERS, US - Nebraska Investment Council
Google taps Mercer for advisory role
UK - Mercer has been hired to advise search engine giant Google on its employee benefits in the UK.
The consultant will provide recommendations on the internet firm's contract-based pension scheme and associated risk and medical arrangements.
CalPERS backs dissident board candidates at Texas Industries
US - The California Public Employees' Retirement System said it will back a dissident trio of director candidates for Texas Industries, including a former CalPERS employee.
Among the candidates is Dennis Johnson, a former senior portfolio manager for corporate governance at the scheme. The other candidates proposed by the Shamrock Activist Value Fund, are Marjorie Bowen and Gary Pechota.
Jeff States leaves Sacramento for Nebraska
US - The US$12bn Nebraska Investment Council (NIC) has lured Jeffrey States as its new chief investment officer.
States was previously investment chief at the $5bn Sacramento County Employees' Retirement System.
Chair of the NIC Gail Werner-Robertson said: "Jeff's experience in all asset classes will be of tremendous value in leading the NIC during the most challenging times for public retirement systems."
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.