July 11, 2013 (PLANSPONSOR.com) – Paul Gamble was appointed managing director and president of retirement solutions at F-Squared, an investment management firm in Newton, Massachusetts.
Gamble will join F-Squared’s management committee and play a critical part in guiding overall strategy. He has over 20 years of experience in the retirement industry, most recently serving as executive vice president of distribution and institutional services at Financial Engines Inc., where he was responsible for all sales and client-facing functions, as well as the firm’s top-line revenue goals.
As president of F-Squared retirement solutions, Gamble will be responsible for the firm’s full suite of next-generation investment solutions targeted toward the defined contribution and retirement markets, including customized and private-labeled, target-date strategies and funds, collective trust funds and sub-advisory partnerships in the retirement market.
Gamble’s previous positions include vice president of institutional retirement sales at Scudder Investments, and vice president of institutional retirement sales at Fidelity Investments. He is a member of the Executive Committee of the Defined Contribution Institutional Investments Association (DCIIA), and is vice chair of the research and surveys committee.
July 11, 2013 (PLANSPONSOR.com) – CalPERS will delay the launch of an online database that will disclose information about its retirees and their pension payments.
According to an announcement from the retirement system, uploading the pension database to the CalPERS website is being delayed “pending the outcome of legislation being introduced by various retiree organizations that would limit what retiree data is publicly releasable under law.”
CalPERS said since interest in public pensions has increased in recent years, it regularly receives and fills requests for information, including comprehensive inquiries from news outlets, organizations and individuals for information about every retiree in the system. CalPERS must provide this information pursuant to Government Code Section 20230, various provisions of the California Public Records Act and established case law.
The announcement added, “We take very seriously our responsibility to protect the privacy and security of our members and their data. We want to assure them that private information such as date of birth, health information, and address are always kept confidential and are not subject to release through a Public Records Act Request.”
Information CalPERS is required to release by law includes retiree name, gross monthly pension amount, base allowance, cost-of-living adjustment, years of service, retirement date, benefit formula, final compensation and last agency worked for.
CalPERS spokeswoman Amy Norris said that the retirement system would launch a searchable pension database with information that is deemed public, such as a retiree's name, monthly gross pension payment and some employment history, adding that the database was scheduled to go live next week, according to the news report.
The news report also detailed how CalPERS had recently sent a notice to retiree organizations saying the fund already fills many requests for public information and that an online database would allow it to meet legal requirements for public disclosure, while protecting the "integrity of our retirees' public pension data."
CalPERS acknowledged that such disclosure would stir privacy concerns from retirees, but believed its member data would remain better protected on its own website rather than on external databases kept by news or other organizations.
The $260-billion retirement system administers pension benefits for 1.6 million state and local government workers and their families. According to the news report, the release of information would not include beneficiaries or survivors who receive a monthly allowance.