Governor Wolf and PEMA Provide Update on Storm Damage in NE Pennsylvania

first_img June 14, 2018 Press Release,  Weather Safety Harrisburg, PA – As severe storms last night affected much of Northeast Pennsylvania, Governor Tom Wolf and officials at the Pennsylvania Emergency Management Agency (PEMA) provided an update on the storm damage caused by a possible tornado and next steps in the region.“Our first concern is the safety of residents and structures and local emergency responders have worked through the night to secure the scene,” Governor Wolf said. “I will be on site in Wilkes-Barre Township this afternoon to tour the damage at the shopping plazas as the National Weather Service (NWS) and PEMA work with local emergency management to determine if this severe storm was a tornado.”Governor Wolf will visit the shopping centers at 3570 Wilkes Barre Blvd, Wilkes Barre Township, to examine damage there and meet with PEMA Director Rick Flinn and local emergency management and first responders.A half-mile radius around the damage site has been evacuated due to a leaking 750-pound propane tank. PennDOT has been actively engaged in ensuring roads surrounding the damage site are closed and properly signed to provide safety for residents and first responders. Officials are using extreme caution to ensure the area is safe before residents are permitted to return.There are approximately 15 businesses damaged with some partial structural collapse. PEMA is coordinating with the county emergency management agency and the Civil Air Patrol to provide the NWS with aerial reconnaissance information for the assessment. Damage assessments are on-going to determine the extent of the impact. SHARE Email Facebook Twittercenter_img Governor Wolf and PEMA Provide Update on Storm Damage in NE Pennsylvanialast_img read more

UK should consider shift to collective individual DC funds – report

first_imgThe UK should consider the launch of collective pension provision based around the more individualised approach being debated in the Netherlands, a wide-ranging report on the future shape of the pensions industry has urged.The 600-page report, written by David Blake of the Pensions Institute at the behest of the opposition Labour party, also suggested the National Employment Savings Trust (NEST) be allowed to provide income-drawdown products to all savers in an effort to lower costs.The suggestion was made after recent changes allowed savers to access pension pots from 55, and ended a previous requirement to annuitise.Blake’s report, likely commissioned in 2014 to function as a policy blueprint had the Labour party won the 2015 election, also proposes an overhaul of the UK’s regulatory architecture, merging the Financial Conduct Authority with the Pensions Regulator, while introducing ‘safe haven’ pension providers that could be recommended without risk of later lawsuits over mis-selling. The academic said the Review of Retirement Income (IRRI) report was necessitated by the shift in retirement provision caused by the liberalisation of pension savings, labelled pensions freedoms.The shift away from annuities to pay out income in old age marked a “monumental change” for a market that was previously home to around half of the world’s annuities, Blake said.The report set out to examine how the risks associated with drawing down retirement income – rather than having a guaranteed income stream for life – should be explained to savers.Revisiting defined ambitionBlake touched on the role of collective defined contribution funds – part of the defined ambition agenda introduced by previous pensions minister Steve Webb – and argued that the idea of risk-sharing was still feasible in a world where members had access to savings from age 55, as long as the scheme allowed for individual accrual.The report examined a number of risk-sharing approaches employed across the world, including the use of deferred annuities by Denmark’s ATP, and recommended the introduction of collective individual defined contribution (CIDC).CIDC funds, the report said, would exploit economies of scale and allow risks to be pooled.When asked, Blake said the approach could be modelled on discussions occurring in the Netherlands, where policymakers have sought to avoid a shift towards individual DC funds as used in the UK.Benchmarking decumulation strategiesThe report further recommended that a vehicle akin to the National Employment Savings Trust (NEST) be launched to act as a benchmark for decumulation strategies, able to set standards and cost levels other providers would need to match to remain competitive.The focus on NEST was also in line with Blake’s proposal to see retirement income offered by institutional investors, rather than savers previously auto-enrolled into institutional providers being asked to access the retail market on retirement.“In many respects,” the report said, “scheme drawdown is a natural extension of the default fund used by modern multi-trust, multi-employer schemes for the auto-enrolment accumulation stage.“It is also a natural extension of the trustees’ governance role and fiduciary duties, which, prior to [the introduction of pension freedoms], ended very abruptly when members were steered towards the purchase of [lifetime annuities] at the point of retirement,” it said.One of the report’s key proposals also built on previous work by the Turner Commission, which recommended the introduction of auto-enrolment in 2005.The launch of a Pensions, Care and Savings Commission would provide independent scrutiny of the pensions freedoms, Blake suggested, and help establish what he saw as the absence of a national narrative around retirement savings.The idea was previously proposed by the National Association of Pension Funds, the Association of British Insurers and the Trades Union Congress.last_img read more

Cricket News Virat Kohli Smashes 26th Ton, Ties With Ricky Ponting For This Special Feat

first_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: Virat Kohli entering the record books and tying records is nothing new. The India vs South Africa Test in Pune witnessed a similar sight. Kohli scored his 26th century to put India on top against South Africa at the MCA stadium on Friday. This was his 19th century, putting him level with former Australia great Ricky Ponting. Graeme Smith of South Africa has the most with 25 centuries as a Test captain. The fact that Kohli achieved it in his 50th Test as captain of the Indian team shows that he is the ultimate player when it comes to achieving milestones.Kohli and Ajinkya Rahane had weathered the storm on an overcast evening session on day 1 but Kohli showed his mettle to negotiate the bowling. He notched up his fifty with two boundaries off Vernon Philander as he remained unbeaten on 63. Resuming on day 2, Kohli had his fair share of luck. He edged a full ball from Philander but it just flew past Quinton de Kock for a boundary. Also Read | MS Dhoni knows exactly what to do: Virat Kohli brushes aside queries of slow battingAs the session progressed and the partnership went past 100, Kohli still had some luck going his way. He withstood a testing spell from Anrich Nortje who induced the outside edge yet again but the ball went past the slips. However, Rahane was looking in great touch as he smoked a couple of boundaries and neared his fifty. The Mumbai right-hander was the first to reach his fifty when he cracked a four off Keshav Maharaj and notched up his 20th fifty. Also Read | MS Dhoni is a legend of the game, says Virat KohliKohli, though, had no problems negotiating the nervous 90s as he notched up a magnificent century by straight driving Philander to the long on fence for a glorious boundary. During the course of his knock, he overtook Dilip Vengsarkar’s tally of runs to be seventh on the all-time list of Indian players with the most Test runs. Sachin Tendulkar leads the tally with 15921 runs in 200 Tests. Incidentally, this was his first ton against South Africa in India, having smashed 119 and 153 in the Johannesburg and Centurion Tests of 2013 and 2018.The century in Pune was his 11th in a different venue in India, breaking the tally of 10 that was set by Sachin Tendulkar during his 24-year lating career. Thus, Kohli has broken one more record of Tendulkar and it remains to be seen how many more records will he break in his playing career. Kohli is already the most successful India captain, overtaking MS Dhoni’s tally of 27 wins and with this century, he has already cemented his legacy as one of the best batsmen in Tests.last_img read more