‘Too small’ schemes DNB, IBM to leave provider TKP

first_imgThe Dutch pension fund of IT giant IBM and the company scheme of pensions supervisor De Nederlandsche Bank (DNB), which use TKP Pensioen as a pensions provider, have been given target dates to leave the company, as it has indicated both schemes are too small for a profitable service provision.TKP has set a target date of 1 January 2022 for IBM and 1 January 2023 for DNB to end its services for the schemes.Roeland van Vledder, independent chairm of both schemes, said that, although TKP hadn’t formally announced that it would terminate the contracts, it had made clear that costs had become too high as a consequence of new legislation.He said that both pension funds were taken by surprise, as they didn’t consider themselves too small. The €2.2bn DNB scheme has 5,000 participants, while IBM’s €4.8bn pension fund has 14,000 participants in total.However, the chairman emphasised that the issue of complexity of pensions provision didn’t play a role in TKP’s considerations.In a response, the provider said that it was improving its digital service provision through a programme that, “from a costs perspective, would be most attractive for larger volume schemes”.It added that it didn’t want to put further pressure on its profitability, “as is the case of pensions provision for Pensioenfonds DNB”.A TKP spokesperson declined to provide details on the contract with the IBM scheme. Roeland van Vledder at DNBVan Vledder said he could understand what had driven TKP to consider stopping provision for both schemes. “The internal audit, as prescribed by the European pensions directive IORP II, would make providing this service for many clients difficult and expensive,” he explained.“In our opinion, TKP wants to solve the issue correctly. They told us their plan at a very early stage,” he added.The chair added that the DNB scheme was now considering switching to another provider as an independent pension fund, or joining a consolidation vehicle (APF) in an individual compartment.He said IBM was looking at additional alternatives, and was expected to make a decision no later than the second quarter of next year.There are several providers eager to offer their services to the IBM scheme, Van Vledder said, without disclosing names.TKP did not disclose which other schemes it would stop providing services for, or whether it had set a minimum number of participants.The spokesperson said the company was “in an engagement process with clients, which had contributed to schemes assessing their options”.last_img read more

IMCA Modifieds, Northern SportMods race Saturday at Sunset

first_imgBy Ben DeatherageBANKS, Ore. – Both IMCA sanctioned Modifieds and Northern SportMods are on the Saturday, May 9 card at Sunset Speedway Park.General admission for all ladies is $5 on Bud Light Lime-A-Rita Ladies Night.After two races there have been two different winners in Budweiser IMCA Modified competition. Collen Winebarger and Mark Carrell have taken care of business in the first two events so far while Craig Cassell has two straight second place finishes.  The feature event will pay $650 to win.The Karl Chevrolet SportMods have been in action just once this season. Michael Melton was the fea­ture winner on April 25.Pit gates open at 2 p.m., the front gate opens at 4 p.m. and racing starts at 6:30 p.m.last_img

US, Mexico, Brazilian GPs called off

first_img(BBC) – Formula 1 has called off the US, Mexican and Brazilian Grands Prix this year as a result of the coronavirus crisis in the Americas.With infection rates rising in the three countries, F1 bosses believe it would be irresponsible to hold races there.Instead, three further races in Europe are to be added to the calendar.These will see a return for Germany’s Nurburgring and Imola in Italy, and an F1 debut for Portugal’s Portimao track.The US Grand Prix in Austin, Texas, had been due to be held on October 23, with the Mexican race in Mexico City a week later and Brazil on November 13.But F1 officials have accepted that it will be impossible to hold the races.Any hopes of reviving the Canadian race, originally scheduled for June and postponed in April, have also been abandoned.The coronavirus has a much lower prevalence in Canada, but the country has local restrictions and travel rules that make it impossible to hold a race.An F1 statement said: “Due to the fluid nature of the ongoing COVID-19 pandemic, local restrictions and the importance of keeping communities and our colleagues safe, it will not be possible to race in Brazil, USA, Mexico and Canada this season.”The grand prix at the Nurburgring, which last hosted a race in 2013, will be held on October 11, when it will be vulnerable to bad weather.The date is the latest in the year a grand prix has ever been held on the historic track in the Eifel Mountains, where snow has been known to fall even in the summer, and certainly cannot be ruled out in October.Portimao, on the Algarve, will follow on October 25, with Imola on November 1. Imola will be a two-day event, meaning there will be no Friday practice.Imola has long, historic connections with F1. It replaced Monza as the home of the Italian Grand Prix in 1980 and had a permanent home on the calendar as the San Marino Grand Prix from 1981 to 2006.It is also notorious as the track on which Ayrton Senna and Roland Ratzenberger were killed on consecutive days in 1994.Portimao is to be one of the first races to allow spectators this year – following the decision of the organisers of the Russian Grand Prix on September 23-25 to sell tickets to the event in Sochi on the Black Sea coast.F1 still does not have a full calendar, but says it remains hopeful of being able to have “between 15 and 18 races this year and end in the Gulf in mid-December”.The additional three races at the Nurburgring, Portimao and Imola will take the calendar to 13, and the season is expected to conclude with two races in Bahrain and one in Abu Dhabi in November and December.And F1 is working on one or two races in Asia in early to mid-November.The new street circuit in the Vietnamese capital Hanoi, which had been due to make its debut as an F1 venue in April, is expected to hold a race, and there is a possibility of a return to Malaysia’s Sepang track, which held a grand prix from 1999 to 2017.last_img read more

Serena Speaks on Police Violence

first_imgShe is the latest athlete to speak out about friction between law enforcement and the black community in the US.In Tuesday’s Facebook post, Williams, 35, wrote that she had asked her 18-year-old nephew to drive her somewhere so she could work during the journey.She said that when she saw a police car she “remembered that horrible video of the woman in the car when a cop shot her boyfriend”. “All of this went through my mind in a matter of seconds,” she added.Williams was apparently referring to the July 6 fatal shooting of Philando Castile, whose girlfriend live-streamed the confrontation with police in St Paul, Minnesota.The Grand Slam champ said she checked her nephew was not speeding so they would not get pulled over, and then regretted not having driven herself.“I would never forgive myself if something happened to my nephew,” Williams wrote. “He’s so innocent. So were all ‘the others.’”“I am a total believer that not ‘everyone’ is bad. It is just the ones that are ignorant, afraid, uneducated, and insensitive that is affecting millions and millions of lives.”Williams quoted Martin Luther King Jr, writing: “There comes a time when silence is betrayal.”She added: “I Won’t Be Silent”.Williams spoke out amid a wave of anti-police brutality sporting protests in the US, triggered after San Francisco 49ers quarterback Colin Kaepernick refused to stand for the national anthem.Some 214 black people have been killed by US police this year out of a total of 821 people, according to Black Lives Matter monitoring group, Mapping Police Violence.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Serena Williams has voiced her fears about police violence, writing on Facebook: “I won’t be silent.”The US tennis star posted that she found herself feeling wary of law enforcement during a recent journey with her teenage nephew.Williams said that when they drove by a patrol car she remembered a woman whose boyfriend was fatally shot by police.last_img read more

Jr. Lone Star Suffers 2-0 against Black Meteors

first_imgGhana Under-23 football team, the Black Meteors on Sunday whipped Jr. Lone Star 2-0 in the first leg of the 2016 Rio de Janeiro (Brazil) Olympics qualifiers in Tamale, Ghana.A goal was scored in each half with the second goal being praised by the Communication Director of Liberia Football Association (LFA), Henry Flomo, who is in Ghana.“65 min., a beautiful set-piece put Ghana up by 2-0,” Flomo wrote on Facebook.Flomo blamed the defeat of the U-23 Lone Star over the late arrival in Ghana.“Liberia has lost by 2-0. Good composure, good timing, but lack of zest and hunger. Connection between the middle and forward was wanting,” Flomo noted on Facebook. Maybe fatigue and strategy took advantage of the U23,” he wrote.According to the narration, the U-23 Lone Star arrived in Accra, Ghana on Sunday early morning and waited for connecting flight to go to Tamale, the northern Region of Ghana.“The Liberian delegation has retired at its final destination in Tamale, northern Ghana after a 45 minute AntraAir flight from Accra between 7-8am,” Flomo added. “Coach Thomas Kojo has made sure his boys get a rest for the tiny time in between now and game time at 3:30pm local time; head of delegation, Commissioner Andy Quamie, is sorting out formalities leading to the match, including technical meeting.”However, knowing of the time of arrival and fatigue, Coach Thomas Kojo told Ghana’s Adom FM Radio that though his side (U-23 Lone Star) was punished, they were happy with the team’s performance.If the Black Meteors won again on Friday, they would meet Congo Brazzaville, and then with Nigeria.Meanwhile, the U-23 Lone Star is expected to play her home game also in Tamale, Ghana.The Ghana Football Association consented to serve as neutral ground for the Black Meteors to play in Ghana owing to the delocalization of football in the country, because of the outbreak of the deadly Ebola virus Disease (EVD).Liberia’s delegation: Goalkeepers: Jemeriah Sekey (Fassell FC), Tommy Songo (LISCR FC), Allington Sengbeh (BYC).Defenders: Fred Fofana (Watanga), Raymond Fransah (MC Breweries), Alvin Macarnel (BYC), Darkar Kollie (Jubilee), Alycious Sinujla- (Fassell FC), Marlee Roberts (LPRC Oilers), Prince Kennedy (LPRC Oilers), Albert Nimely (Fassell FC).Mid-Fielders: Abraham Barshall (LISCR FC), Stephen Seameh (LISCR FC), Oscar Dorley ( MC Breweries), Prince Saydee (BYC), Elijah Clarke – Fassell FC, Sunnyboy Dolo (Nimba United), Continenta Queejay- (LPRC Oilers), Cooper Gaypia – (University of Mt. Olive in the USA).Strikers: Van -Dave Harmond (BYC), Herron Scarla Berrian (Platanias Chania in Greece), Sporo Somah (Sewe Sport in Ivory Coast); Officials: Thomas Kojo – Head Coach, Janjay Jacobs – Deputy Coach, Jaydeh Donyan Brown – Administrative Manager, Agnes Togbah – Medic and Sunnyboy Mason – Care taker; Andy Quarmie, head of delegation and Henry Flomo – Media Officer.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more