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  • EIOPA’s ‘grandfathering’ could see pension schemes exempt from HBS

    first_img“Arguably, if the benefits are fixed under the rules, and the contributions don’t vary, this could be interpreted to include future benefits as well,” he said.While the use of ‘contract’ to describe an agreement is not common in Haines’s native UK, the Dutch system uses the terminology, with social partners agreeing binding contribution rates for workers paying into individual schemes.Haines argued that if funds would still be impacted by the HBS, it is right they continue to argue against its introduction.“If not, then is it right for the industry to spend a lot of time, effort and money engaging on this?” he asked.Haines, who heads up the consultancy’s Nordic retirement business, also welcomed the acknowledgement within EIOPA’s consultation that if funds could account for future asset return when discounting liabilities, it would encourage investment in long-term assets.“Large employers I speak to across Europe say ‘Yes, we want to be encouraged to invest in long-term assets, and we want an economically efficient approach’,” he said.He added that the ability to account for investment returns, rather than employing a risk-free rate, would have a lot of support.“But it all comes down to, at the end of the day, what is EIOPA’s preferred option,” he said. While EIOPA had tabled six potential HBS approaches as part of the consultation, it was unclear which it preferred, how it would advise the European Commission or whether the College of Commissioners had its own preferred approach, he noted.The current HBS consultation, which runs until next January, has previously been welcomed for its “pragmatic” approach. Benefits currently accruing in Europe’s pension schemes could end up being completely exempt from the proposed holistic balance sheet (HBS) if the European Insurance and Occupational Pensions Authority (EIOPA) wishes to avoid burdening funds with additional costs.The supervisor’s recent discussion paper on the HBS says it may be appropriate to “consider the possibility of grandfathering”, so that the new guidelines do not affect accrued rights.The paper adds that current pension “contracts”, which it says could cover benefits and contributions that are fixed for the whole term of the contract, could be exempt due to the cost burden associated from any new framework.Aon Hewitt partner Colin Haines said a ‘grandfathering’ clause could offer defined benefit (DB) schemes a reprieve.last_img read more

  • EC expert group seeks feedback on green taxonomy

    first_imgThe European Commission’s sustainable finance expert group has launched a consultation on the preliminary results of its work on an EU-wide system for determining whether an economic activity is environmentally sustainable.The taxonomy, as it is dubbed, is the focus of one of the regulations the Commission has proposed to implement its sustainable finance action plan.The technical expert group (TEG) on sustainable finance, which is helping the Commission with the taxonomy and other matters, today issued calls for feedback on two aspects of the taxonomy. It invited feedback on the first group of economic activities it proposed be deemed as contributing substantially to climate change mitigation. It has also invited views from future users of the taxonomy – member states and financial market participants – on its usability in practice.In addition, technical experts have been invited to register for workshops to provide technical input on the development of criteria to assess climate change adaptation activities and “doing no harm” across all the Commission’s environmental objectives.Announcing the call for feedback today, the Commission said the ultimate aim was “to develop a system that provides businesses and investors with clarity on which activities are considered sustainable so they take more informed decisions”.Usability questionsPotential users of the taxonomy are being invited to respond to five questions, including if the proposed approach was “sufficiently clear and usable for investment purposes” and if not, what changes respondents would propose.The TEG survey also asks financial market respondents specifically whether the proposed structure and format of the taxonomy would enable them to comply with potential future disclosure obligations.The TEG’s consultation document stated that the taxonomy was not a mandatory list of activities in which to invest, but linked to disclosure requirements.The Commission has proposed that financial market participants, when marketing financial products as environmentally sustainable investments, be required to report how and to what extent the taxonomy criteria have been used to determine their sustainability. Nathan Fabian, chief responsible investment officer at the Principles for Responsible Investment and rapporteur for the TEG’s taxonomy section, said: “The taxonomy would be a major step forward for sustainable investing as it is first time that standards on climate mitigation, adaptation and other environmental objectives would be incorporated into financial disclosure obligations.“There is a global need for clarity on what economic activities are sustainable”Nathan Fabian, chief responsible investment officer, PRI “There is a global need for clarity on what economic activities are sustainable. As the biggest effort globally, the EU taxonomy can influence global capital flows to sustainable assets and companies.”PensionsEurope, Europe’s occupational pension fund association, has described the taxonomy as “a useful tool”, for example as the basis for discussions with investment managers or providing information to members and beneficiaries. At a recent event in Brussels, an official from the Commission addressed concerns expressed by PensionsEurope that the taxonomy could lead to pressure on pension funds to invest or divest from certain sectors or companies.The deadline for feedback is 22 February. Only feedback provided through its dedicated surveys would be taken into account, the TEG said. Interest in participating in the workshops needed to be registered by 4 January.The surveys can be accessed here.last_img read more

  • Mr. George William Harlow

    first_imgMr. George William Harlow, age 83, of Vevay, Indiana, entered this life on June 21, 1933, in Carroll County, Kentucky, the son of the late, William Robert and Lucinda Elizabeth (Wilson) Harlow. He was raised in Ohio and Switzerland County and attended school at Cass Union in Ohio County, Indiana. George was united in marriage on May 17, 1957 at the Rising Sun United Methodist Church in Rising Sun, Indiana, to the late, Faye Anderson. George and Faye shared 42 years of marriage together until Faye passed away on April 26, 1999. George was employed for Iron Workers Local 372 in Cincinnati, Ohio, retiring in 1995 where he was a 60 year member. George resided in the Switzerland County community most of his life. George enjoyed watching westerns, reading western novels, listening to old country music and mowing his yard. George will be dearly missed by his loving family and friends. George passed away at 6:25 pm, Thursday, January 19, 2017, at his residence in Vevay, Indiana.George will be dearly missed by his sons: Ricky Darrell Harlow of Aberdeen, IN, Buster Harlow of Vevay, IN, George “J.R.” Harlow, III. of Aberdeen, IN, George “Buster” Harlow, Jr. of East Enterprise, IN, Barry Glenn Harlow of Austin, IN and Tommy Lee Harlow of Scottsburg, IN; his daughters: Debbie Ann Rogge of Bossier City, LA, Marsha Kay Harry of Lexington, IN, Bonnie Lou Meyers of Columbus, IN and Jo Ann Griffith of Hawaii; his several grandchildren and great-grandchildren; his sisters: Shirley Tingle of Vevay, IN and Mary Jane Kincaid of East Enterprise, IN and his several nieces and nephews.He was preceded in death by his parents: William Robert and Lucinda Elizabeth (Wilson) Harlow; his wife: Faye (Anderson) Harlow, died April 26, 1999; his son: Gary Dean Hill, died September 5, 1998; his daughter: Rebecca Mae “Becky” Harlow, died February 24, 2016; his granddaughter: Jamie Lynn Harlow, died October 10, 2013 and his grandson: Danny Johnson.Funeral services will be conducted Wednesday, January 25, 2017, at 11:00 am, by Bro. Anthony Wilks at the Haskell & Morrison Funeral Home, 208 Ferry Street Vevay, Indiana 47043.Interment will follow in the Mount Carmel Cemetery, Aberdeen, Indiana.Friends may call 5:00 pm – 8:00 pm, Tuesday, January 24, 2017, at the Haskell & Morrison Funeral Home 208 Ferry Street Vevay, Indiana 47043.Memorial contributions may be made to Charity of the Donor’s Choice. Cards are available at the funeral home.last_img read more

  • Green flag flies for Dacotah Speedway’s 30th anniversary season

    first_imgThey race side-by-side briefly before Hanson took the lead with five laps to go. Hanson pulled away to win ahead of Reed. He passed Olheiser for the lead and quickly pulled away. As the laps wound down, Jason Wolla passed Keller for third place and started to chase down Olheiser. However, Wolla ran out of time as Strand cruised to victory.   After winning the last two Sport Compact season openers, Andy Reed started on the pole. A couple of complete restarts regrouped the field before he pulled away. Brayden Urlacher and Hanson battled hard for second place before Hanson cleared Urlacher and chased down Reed for the lead. MANDAN, N.D. (June 5) – Shawn Strand was the IMCA Modified winner and Braydee Hanson led the way to the Mach-1 Sport Compact checkers on the 30th annual opening night Friday at Dacotah Speedway. After a complete restart, Travis Olheiser and Strand raced side-by-side for the lead in the Modified feature as Jeremy Keller lurked in third. An early race caution reset the field and on the restart Strand found speed along the high side.last_img read more

  • Aspiring Attorney Kim Kardashian Helps Free South Florida Man From Prison

    first_imgA South Florida man will soon be free after spending more than 20 years in prison for a federal drug charge.His release was made possible by a Texas attorney with the help of reality TV star Kim Kardashian-West.Jeffrey Stringer from Miami was arrested in West Palm Beach in the late 90’s.He was supposed to spend his life in jail, but now he has a second chance.Kardashian-West has made criminal justice reform her mission after securing the release of Alabama grandmother Alice Johnson from prison with the help of Persident Trump.Kardashian event went to the White House last year to meet with President Trump to ask for his support.In the meantime, she’s helped free 17 people from federal prison over the last three months.

    Kim Kardashian frees 17 inmates in 90 days to help lags with ‘unfair’ sentences https://t.co/BvAXkdtbCD read more

  • Florida Authorities Warn of Road Rage Among Mating Alligators

    first_imgOfficials in one part of Florida are telling residents to be on the lookout not only for aggressive drivers on the road, but for alligators with that attitude.The message came after a nine-foot gator had to be removed from a road in Manatee County on Friday.The Manatee County Sheriff’s Office warned motorists that we are in that time of year when alligators are mating and may therefore be more mobile and aggressive.They posted:Courtesy: Manatee County Sheriff’s Office/FacebookA male gator measuring 9 feet, 2 inches was removed from a roadway after it was spotted “being aggressive with traffic.”Sheriff’s deputies relocated him to an alligator farm.Wildlife officials add that the Florida mating season begins in early April and could continue into June.last_img

  • Uganda Football Associations (FUFA) postpone Tri-Nations Football tournament

    first_imgKampala: The Federation of Uganda Football Associations (FUFA) has postponed the Tri-Nations Football tournament that was scheduled to take place on March 17-21 in Kampala. Ahmed Hussein, the Communications Manager of the football body, confirmed the development on Sunday evening, reports Xinhua news agency. “We shall now have the tournament on March 24-28,” added Hussein. He added that they have had to push the tournament by a week because of the current challenges of the coronavirus (COVID-19) and also to give the other teams time to prepare.The Tri-Nations tournament to be played at the Ugandan National Stadium will attract hosts Uganda, Mali and Zambia. The three teams will use the tournament to prepare for the 2020 Africa Nations Championship (CHAN) slated for April 4-25 in Cameroon.Although the tournament has been pushed forward, Uganda’s head coach Johnathan McKinstry said he will continue preparing the team. “We need the players to get the cohesion which is very important,” added the coach.Some countries in Africa like Rwanda, South Sudan, Morocco, and Algeria have suspended football matches because of the impact of the coronavirus. The Uganda Premier League and the knock Out Uganda Cup matches have all continued to be played despite the threat of the coronavirus. IANSAlso Read: Coronavirus: Cricket tourneys, volleyball meet postponed Also Watch: BJP city committee organizes Coronavirus awareness programme in Guwahati on Monday.last_img read more

  • USC ranks as a top university in entrepreneurship

    first_imgEntrepreneur magazine ranked USC‘s Lloyd Greif Center for Entrepreneurial Studies third on its list of Top 25 Undergraduate Colleges and Business Schools last week.The Greif Center was ranked 10th  for the Top 25 Graduate Colleges.The rankings, which were based on a Princeton Review survey of more than 2,000 colleges and universities between April and June of 2013, were determined based on factors including entrepreneurship programs, faculty, courses offered and mentorship programs.Babson College and University of Houston claimed the top two undergraduate college ranking spots in the rankings.Entrepreneur magazine’s ranking highlighted the program’s alumni business success post-graduation, as well as the number of mentorship programs and scholarships available to students.The Lloyd Greif Center for Entrepreneurial Studies offers both a major and a minor in entrepreneurship and six mentorship programs. The school has offered the major program since 1971. Of the 50 percent of recent graduates who started businesses, 100 percent of them are still in business.Currently, USC has five entrepreneurship organizations and clubs. Ninety-four percent of the Greif Center faculty are entrepreneurs themselves. Follow Yasmeen on Twitter @YasmeenSerhanlast_img read more

  • LeBron James, Luke Walton agree: Free throws and turnovers paramount to Lakers’ playoff prospects

    first_imgALL TOGETHER NOWAfter signaling to the world Wednesday that he planned to be “a little bit different” on the court as he picks up his intensity and tries to propel the Lakers to the postseason, James on Thursday declined to divulge what message he’d shared privately with the group.But as for whether all the Lakers are on the same page this far into a season that has included injuries, suspensions, trades and trade deliberations and the daily scrutiny attracted by the game’s biggest star?“Absolutely,” the Lakers are together, James said. “Absolutely.”“We’re still missing a key piece of our unit in ’Zo,” he added, in reference to second-year point guard Lonzo Ball, who remains unable to practice because of a severe ankle sprain. “But we’re definitely together and we look forward to seeing what we’re capable of.“We’ve gone through a lot as a group,” Walton said. “When we go through adversity, that bond starts to build and build. Relatively we’re a new group, so … it’s normally two, three, four years where you get to that certain level, but I’m very happy with where the bond is between this group right now.”BEST WISHES, ZIONLike basketball fans across the nation, James said he got a scare when he saw Duke star Zion Williamson sustain a knee injury when he tore through his shoe less than a minute into the Blue Devils’ game against North Carolina on Wednesday.“When I first saw it I was like, ‘Oh sh–, like everybody else,’ ” James said. “He ripped through his shoe making a routine move that he’s made countless times.“Second thing that went through my mind was kind of the same injury that I had on Christmas Day. My other side slipped and the other side took the punishment. His left foot slipped and busted out his shoe and his right knee (was hurt), and it was my right foot that slipped and my left groin tore. So I thought about that.” Lakers practice early hoping to answer all questions How athletes protesting the national anthem has evolved over 17 years “He’s dying to get back,” Walton said. “I talked to him, he wants to be on the court. But with injuries, there’s things you can do, but that’s everything we are doing. … They’re trying everything they can to get him back and he really wants to get back.”Newly acquired forward Mike Muscala also was out Thursday, considered day to day after suffering a right ankle sprain in his Lakers’ debut against his old team in Philadelphia. Lakers, Clippers schedules set for first round of NBA playoffs As for whether Williamson should shut it down for the remainder of this college season, James said he’d rather not weigh in.“I have no comment on what he should do for his future,” he said. “If he needed any advice, he could find a way to find me. But it’s not for you guys; it’s not for someone to go sit across the table and say, ‘LeBron said this about this kid.’ He has to do what’s best for him, and his family has always been a support system, so I just wish great health for the kid. But that’s not my lane to talk about what he should do going forward.”MISSING LONZOBall, whom James said the Lakers “have missed a lot,” continues to receive treatment on the Grade 3 ankle sprain he suffered against Houston on Jan. 19. He hasn’t yet been able to return to the court, Walton said.Related Articles Trail Blazers beat Grizzlies in play-in, earn first-round series with the Lakers AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersThe Lakers came out of the All-Star break averaging 15.9 turnovers per game, the second-most in the league. The bad habit, leading to 18.6 points off turnovers for opponents, has been partly the result of living on the knife’s edge between the sensational play and what’s killing their chances to win, Walton said.“We naturally have guys who like the home run play,” Walton said. “But it’s the strength of some of theirs. Lonzo likes throwing 90-foot touchdown passes, LeBron likes ’em. Rondo likes ’em. We’re aware of that.“Part of it is, yeah, we’re a new group that’s learning how to play together and where how to get each other the ball, where we like the ball, those type of things, and we’re with a new staff, so it’s a new playbook for a lot of guys, so that takes time to get familiar with as well.”There’s also the matter of the Lakers’ foul free-throw shooting so far: Going into the All-Star break, the Lakers were attempting an average of 23.6 free throws per game, the 12th most in the NBA, but they were doing themselves no favors with those opportunities, shooting a league-worst 68.7 percent from the line.“We gotta get up there and knock our free throws down when we do,” James said. “We’re a team that plays a lot in the interior, plays a lot in the paint, so we’re going to get fouled, so we gotta be ready for that.” Newsroom GuidelinesNews TipsContact UsReport an Error LOS ANGELES — Heading into the start of the so-called “second half” of the season, in which the Lakers have 25 games to make up the current three-game gap separating them from the eighth seed, Luke Walton and LeBron James were reading off the same page of the playbook: The Lakers’ focus going forward is simple; take care of the little things.At the top of the list: Free throws, and making them. Also, turnovers, and not making them.“Back to the basics,” Coach Walton said after shootaround Thursday morning, where the Lakers prepared for the Houston Rockets.“Gotta win games,” James said. “It starts with not turning the ball over, which has been a huge down for our team.” Trail Blazers, Grizzlies advance to NBA play-in game; Suns, Spurs see playoff dreams dashed last_img read more

  • NSW set to rival Queensland for Indigenous representation

    first_imgWhile the Origin teams aren’t named for another three weeks, there are more players of Indigenous heritage under genuine consideration for Blues selection than in any previous series, with the possibility of a three-quarter line-up featuring Blake Ferguson, Latrell Mitchell, James Roberts and Josh Addo-Carr.Wade Graham is expected to be selected if fit, while Tyrone Peachey is in strong contention for a utility role, and Jack Bird and Nathan Peats are incumbent members of a Blues team which last year fielded more Indigenous players than the Maroons for the first time.Graham and Bird have been touted as possible options to partner James Maloney in the halves.Had Andrew Fifita not pledged his allegiance to Tonga over NSW, his form would warrant selection, while Ryan James has been mentioned in discussions.With Johnathan Thurston retiring from representative football and Sam Thaiday being dropped after the opening game of last year’s series, Queensland’s Indigenous representation this season may be limited to Greg Inglis, Will Chambersand Dane Gagai.It is a significant turn-around since Bowraville-born Inglis opted to play for the Maroons, partly because of a perception that NSW was reluctant to select Indigenous players, and Timana Tahu walked out of a 2010 Blues camp in protest at comments about Inglis by assistant coach Andrew Johns.NSW has a history of disillusioned Indigenous players, with Anthony Mundine, Nathan Blacklock and David Peachey having questioned selection decisions in the past but there can be no complaints now after the Blues last year had five players of Aboriginal heritage in all three matches.The increased number of Indigenous players chosen in a NSW jersey in recent years has coincided with the introduction of the NRL All Stars concept in 2010 and many of the players now in contention have been given their first taste of representative football in the annual clash.Laurie Daley’s dual role as coach of the Indigenous All Stars and NSW from 2013 to 2017 also enabled him to develop relationships with many of those who wore the Blues jersey under his charge.  Emerging leaders such as Graham, Gagai and Ash Taylor have become aware of their standing while in camp with the Indigenous All Stars, which was the brainchild of Preston Campbell after witnessing the impact of the Dreamtime team during the 2008 World Cup.Of all the achievements that the NRL has to be proud of, none would surpass the positive influence rugby league has in Aboriginal communities and events such as the All Stars game and this weekend’s Indigenous round have ensured the support of the entire game.All 16 clubs are on track to have their own Reconciliation Action Plan by the end of the season, including the New Zealand Warriors, who are the first international organisation to do so. On the field, 12 per cent of NRL players are Indigenous, while at grassroots level that figure rises to 17 per cent – a far greater representation than the 2.8 per cent of Australians with Aboriginal heritage, according to the last Census in 2016.Indigenous players are also strongly represented in the women’s game, with eight of the 40 contracted players having Aboriginal heritage.In addition, eight members of the NSW Country women’s squad named to play in next month’s National Championships are Indigenous and the City team is expected to boast similar representation.The NRL has not had to deal with an incident of racial abuse against an Indigenous player in a match since 2005 when Parramatta forward Dean Widders made an on-field allegation against Bryan Fletcher, who was stripped of the South Sydney captaincy.The universal condemnation of the spectators who racially abused Inglis at Penrith earlier this season and the swift response of the Panthers and the NRL to identify and ban them was a positive contrast to the way former AFL star Adam Goodes was treated after a similar incident in 2013.last_img read more