August 26, 2003 (PLANSPONSOR.com) - Joan McCallen
has been tapped as president and chief executive officer of
the ICMA Retirement Corporation, the organization
announced
McCallen has served as executive vice president and
chief operations officer for the past six years and was
appointed acting president and CEO in June 2003 when
previous president/CEO Girard Miller resigned (see
Janus Taps Girard
Miller As New COO
).
As executive vice president and chief operations
officer, McCallen was in charge of a large portion of the
corporation’s operations and also helped develop the its
current open fund architecture, which supplements its
proprietary Vantagepoint Funds. Prior to joining ICMA-RC,
McCallen served in numerous senior positions at Great-West
Life for 21 years.
ICMA Retirement Corporation (ICMA-RC) manages and
is the administrator for over $17 billion in public
sector retirement plan assets in over 6,600 plans with
more than 615,000 public sector employees.
August 25, 2003 (PLANSPONSOR.com) - Conservative
allies of Italian Premier Silvio Berlusconi were cautious
Monday about Berlusconi's proposal to reform Italy's pension
system by raising the retirement age five years.
The premier said in an interview published Sunday
that Italy “needs to raise the retirement age by five
years,” the Associated Press reported.
“In Italy people retire at an average of 57,” he told the
newspaper Libero. “How can one stop working at such a young
age?”
With Italy’s aging population and declining birth
rate, pension reform has been an important, but thorny
issue for governments in the last decade.
Under current legislation, workers with 35 years on
the job can retire if they are at least 57. Berlusconi
has insisted the reform is necessary because Italy’s
older population is putting an unsustainable strain on
state coffers. International organizations such as the
International Monetary Fund and the European Union have
also pressured Italy to rein in its deficit.
“We start off every year with a 70-trillion lire ($39
billion) pension deficit,” Berlusconi said, according to
the AP.
However, he added, he wanted to get the backing of his two
key allies, National Alliance and the Northern League. “I
will convince them,” he told Libero. “On September 1, I
will lay down some very strict conditions.”
Both allies reacted cautiously to the retirementp-age
change suggestion.
For his part, Labor Minister Roberto Maroni, a top League
official, said he agreed with the premier’s proposal on
principle, but added the reform should introduce
“incentives” to keep people working five years longer. He
ruled out any reform forcing workers to stay.
Meanwhile, National Alliance’s Ignazio La Russa
warned the matter would not be solved in the first two
weeks of September. He also noted that unions, which have
already announced their opposition to the plan, would have
to be dealt with.
“If they upset our pension system, we’ll fight against it,”
said Savino Pezzotta, leader of the CISL union.