| Texas Senate waves through expanded wiretapping bill
A bill extending wiretapping provisions to cell phones and covering a wider range of crimes - including kidnaping, human trafficking and money laundering - has been approved by the Texas Senate. Only murder, drug-related crimes and child pornography investigations are covered by existing lawful interception laws in Texas, AP reports. Wiretaps authorised by the proposed laws could be used to authorise the tracking of suspect's mobile, land line and online activities in multiple locations; unlike current laws which are location specific. .
Lobby for head offices here, Miller urges business sector
Toronto's financial institutions should promote this city as a head office location in the same way Quebec's public-sector pension fund boosts Montreal, Mayor David Miller has told business leaders. In a speech to the Toronto Board of Trade, Miller noted that the Caisse de dépôt et placement du Québec "has entered the bidding for BCE in an effort to ensure its head office remains in Montreal." The business community here "needs to take the importance of Toronto as a head office location as aggressively," Miller said. Toronto is home to OMERS, which handles the pension fund of the province's municipal employees, as well as the Ontario teachers' retirement fund. The teachers' fund, in fact, said this week that as BCE's single largest shareholder it may lead a bid for the telephone giant.
Bucco: Pension System Needs Major Overhaul
Senator Anthony Bucco, (R-25), issued the following statement today in response to remarks by the State Treasurer and Director of Pension and Benefits at the Senate Budget hearing. “The impending crisis facing the state pension systems requires immediate and decisive action to secure the retirement benefits for hundreds of thousands of dedicated public servants. We can no longer afford the luxury of delay, fiscal health must be restored to the pension systems immediately. The long-term solvency of the state pension funds are in jeopardy. The present deficit is enormous and only getting worse. The longer the state continues to engage in fiscally unorthodox and risky accounting practices the longer it will take to clean up the financial mess.
Retirement village residents face uncertain future
As many as 50 elderly residents are facing eviction from their retirement village in Tamworth, in northern New South Wales. Ten complexes operated by the Village Life Group, including its operations in Tamworth, have been subject to a buyout. Property investment company the MFS Group bought 10 retirement villages in 2006. The buildings are leased by Village Life, but the company will stop running them at the end of May. A spokesman for Village Life, Geoff Breusch, says MFS was to take over the tenancy arrangements, but has changed its mind. But Craig White from MFS says it is Village Life that has caused the possible eviction of 419 people from its homes. Mr White says MFS never intended to run the villages and it is up to Village Life to find homes for the tenants.
Fund OKs probe on 'overpaid' retirees
The NMI Retirement Fund board has ordered an investigation on some retirees who may have been paid more than they have contributed to the program.Fund board chair Juan T. Guerrero said the board has tasked the Fund legal counsel to look into the matter.Guerrero said the board has found that certain retirees who lack contribution have been getting 100 percent benefits."We discovered that there are members who were supposed to pay at 9 percent but paid lower and then the previous board had authorized retirees to retire and receive 100 percent benefits [even if] they owe contributions to the Fund," said Guerrero.He said it is a case of "overpayment" on the part of the program and "underpayment" on the part of the members.This came even as the board recently adopted a policy authorizing "proportionate" pension payment to certain retirees.This means that retirees who did not pay their full contribution would receive benefits proportionate to the actual payment.Guerrero said this has to be done "to protect the very limited resources that we have."The policy was adopted despite opposition at the Senate.
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