Alaska has filed a lawsuit, which seeks US$1.8 billion in damages from Mercer, the former actuary for the state’s Public Employees’ Retirement System(PERS)and Teachers’ Retirement System(TRS)pension plans. The lawsuit alleges that Mercer made “mistakes in calculating the pension plans’ expected liabilities, including mistaken actuarial assumptions and methods about future healthcare costs, and basic mathematical and […]
Toronto-based investment firm K.J. Harrison & Partners(KJH)has filed a shareholder resolution with Marsh & McLellan, proposing that it spin off its Mercer and Kroll subsidiaries. It believes the breakup of Marsh is necessary to protect the value of the underlying franchises and to maximize shareholder value. “Marsh & McLennan trades at the same price as […]
The simplified name “Mercer” will now be the new brand identification for Mercer Human Resource Consulting. Mercer is recognized as a HR consulting firm, with expertise in human capital management, retirement, compensation and health and benefits, says chair and CEO M. Michele Burns. “The fact is, however, that Mercer provides a much broader array of […]
The improved funded status of U.S. pension plans lessened the shareholder equity impact of the switch to new accounting rules, according to a Mercer report. FAS 158, the new accounting standard, requires plan sponsors to recognize the net difference between plan assets and benefit obligations for both pension and other postretirement benefit plans in the […]
A forecast for the Canadian economy and pension plans from Mercer Human Resource Consulting says investment managers expect moderate returns this year in the range of 7% to 9%. Also, oil prices are expected to end this year at about US$60/barrel, which will affect the economy as a whole here at home. As for pension […]
Colin Ripsman, who joined Mercer Investment Consulting in 1991, has left to join Fidelity. His last day at Mercer was on Friday. He was formerly a principal and the company’s Canadian head of DC consulting. Ripsman has a BA in commerce and economics from the University of Toronto, an LLB from Osgoode Hall Law School […]
More than half(56%)of global companies believe their pension plan represents at least a moderate financial risk to their organization, according to a new study. The Mercer Human Resource Consulting survey of more than 300 companies also found that 16% believe their plan poses a great risk. Concern is the greatest in the United Kingdom where […]
© Copyright 2006 Rogers Publishing Ltd. The following article first appeared in the June 2005 edition of BENEFITS CANADA magazine. Mercer Global Investments comes to Canada. What started out as an extension of its investment consulting business in Australia is turning into a global launch in a whole new market. Mercer Global Investments is […]
BDO Canada LLP employees who are considering taking a pottery course, planning a family vacation or even booking a caterer for their wedding can get a little financial assistance from the company’s newest benefit. The consultancy’s Do What You Love program, which launched in 2022, provides plan members with a set annual reimbursement amount for […]
The consolidation of firms within the pension and benefits industries could pose a threat because there’s less choice available in terms of service providers, says Susan G. Seller, a pension and benefits lawyer at Bennett Jones LLP. “I think the evolution of the services they offer . . . poses a particular challenge for employers […]