Benefits December 28, 2010

OHPRS Releases Emerging Markets Equity RFP

December 28, 2010 (PLANSPONSOR.com) – The Ohio Highway Patrol Retirement System (HPRS) has issued an RFP for a $20-million emerging markets equity investment in a commingled account. 
Reported by

The system said the tentative schedule for the selection process for an investment management firm is as follows:

  • Responses due, January 14, 2011.
  • Selection of finalists, January 27, 2011
  • Presentations by finalists, TBD
  • Selection of manager, TBD

The source of funding is yet to be determined; however, it is expected to originate from the existing core international portfolio. Details are available at https://www.ohprs.org/ohprs/Investments.jsp.

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HPRS is a $703-million defined benefit plan for uniformed members of the Ohio State Highway Patrol. 

Benefits December 28, 2010

Wide Support Seen for Later Retirement Age

December 28, 2010 (PLANSPONSOR.com) – Seventy-one percent of those participating in a recent poll believe Baby Boomers should be encouraged to work past normal retirement age.
Reported by

A news release about the survey conducted by the Marist College Institute for Public Opinion said 69% of Americans – including 71% of Gen-Xers and 61% of Millennials – say they have a responsibility to provide for those who retire before them.

The greatest concerns of Baby Boomers – 77 million Americans born between January 1, 1946, and December 31, 1964 – about life after 65 are finances (48%) and health (34%).

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According to the news release, 61% worry that Baby Boomers will bankrupt Social Security, while 59% believe the needs of aging Boomers may overload the healthcare system.

Younger generations diverge from their elders in some key areas. Thirty-one percent of Millennials feel that Boomers should be encouraged to retire, versus 8% of the Silent-Greatest generation and 16% of Boomers themselves. Likewise, 37% of Millennials believe they should bear no responsibility to provide for retirees.

The report details the findings from a telephone survey taken between December 2 and December 8, 2010, of 1,029 adults in the continental U.S.

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