News

US - The Ohio Public Employees Retirement System (OPERS) has appointed Karen Carraher executive director of the $76bn scheme.

GLOBAL - America's index of leading stocks closed lower last night, amid a global sell-off sparked by another round of weak economic data and increased fear about the eurozone debt crisis, while the FTSE 100 dropped sharply on opening today.

US - The California State Teachers' Retirement System (CalSTRS) has been labelled as "high risk" and is expected to run out of money in the next 30 years, a new state auditor report claims.

The conclusion of HM Revenue & Customs' consultation on tax-relief for asset-backed contributions will bring welcome clarity and make such arrangements accessible for smaller schemes, says PwC.

The e-petition calling for pension indexation to be returned to the Retail Prices Index has attracted almost 12,000 signatures - up from about 400 nine days ago.

The UK's index of 100 leading shares fell 2.76% to below 5,000 this morning, as global markets showed no signs of shaking off fears the West is heading back into recession.

The FTSE has suffered sharp falls in afternoon trading with banking stocks leading the plunge into the red amid renewed euro debt concerns.

UK/US - Mercer has promoted Michael Dempsey to head up its investment management business for Europe, Middle East and Africa, replacing Tom Murphy who will take on a similar role in the US.

UK - Northumberland County Council Pension Fund has appointed Northern Trust to provide it with transition management services.

US - Fitch Ratings has downgraded New Jersey's debt rating in large part because of its swelling pension funding needs.