Home > News > Corporate Moves > CalSTRS CEO Becomes President of National Council on Teacher Retirement
Corporate Moves

CalSTRS CEO Becomes President of National Council on Teacher Retirement

Key objective is to develop council’s response to policy and political issues that “seek to undermine” national retirement securities.

By Chris Butera

Jack Ehnes, CEO, CalSTRS and the new president of the NCTR.

Jack Ehnes, CEO of the California State Teachers’ Retirement System (CalSTRS), will begin his one-year term as president of the National Council on Teacher Retirement (NCTR) today.

In a move that sees the first Californian leading the organization, Ehnes will succeed Jill Bachus, assistant treasurer of the Tennessee Treasury Department.

With combined assets of more than $2 trillion in trust funds, the NCTR serves 68 state, territorial, and local pension systems representing more than 19 million active and retired teachers, non-teaching personnel, and other public employees.

“I’m enthusiastic about the opportunity to serve teachers’ retirement interests nationwide as president of NCTR,” Ehnes said in a statement. “Defined benefit pensions are under attack at every level of government. My key objective as president is to develop NCTR’s capacity to identify and respond to policy and political issues that seek to undermine the retirement security of our nation’s educators.”

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In addition to his role at CalSTRS, Ehnes is also currently chairman of the FTSE Environmental Markets Advisory Committee and a member of the FTSE4Good Advisory Committee. Ehnes also serves on the boards of Ceres, the Sustainability Accounting Standards Board Foundation, and the International Foundation of Employee Benefit Plans, Public Employees Board.

Ehnes is also a former board member of the National Institute on Retirement Security and board chair of the Council of Institutional Investors.

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Home > News > Newsmakers > Aviva, Legal & General to Cover One-Third of Pearson Pension Risk
Newsmakers

Aviva, Legal & General to Cover One-Third of Pearson Pension Risk

Deal is largest of its kind for Aviva.

By Chris Butera

Publisher Pearson announced it is insuring £1.2 billion of its pension liabilities with Legal & General and Aviva.

According to Reuters, the deal—a “buy-in bulk annuity” that covers one-third of the scheme’s liabilities—“substantially reduces” Pearson’s risk of future retirement funding issues among plan members. These types of annuities have insurers take on a portion of a pension plan’s risk.

“We’re continuing to see very strong demand for bulk annuity deals as more and more trustees look to find the right solution to manage their defined benefit pension schemes,” Andy Briggs, CEO, Aviva UK Insurance, said in a statement.

According to Aviva, the deal is the largest it has negotiated so far. The company is currently focused on expanding its corporate pensions business.

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In a separate statement obtained by Reuters, Clive Wellsteed, partner at LCP and lead adviser to the fund’s trustees, said that the deal showed that the industry was in line to see more than £10 billion in transactions for the fourth year in a row.

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