TPR pressures French biopharmaceutical company to boost UK defined benefit plan funding.
State’s largest pension fund has reportedly spent over $1 million for reporting error damage control.
At lowest funded US public pension fund, the same percentage of active worker payrolls will not net the same level of contributions as in the past.
Controversial 2017 contribution of $3.5 billion in company shares to the retirement program apparently was divested, long before the current share-tanking mess.
Retirement systems will struggle with meeting their required contribution targets, Pew report says.
Under a new proposal, 6% in new contributions would be made by the country’s employers to sustain retired citizens above the poverty line.