Commonwealth Receives Federal Aid for Severe Storms in August

first_img Economy,  Environment,  Human Services,  Infrastructure,  Press Release,  PSA Harrisburg, PA – Governor Tom Wolf today announced that the federal government has granted his request for Public Assistance to reimburse state agencies, county and municipal governments and other eligible private non-profits for costs associated with severe storms that brought heavy rainfall and severe flash flooding to parts of Pennsylvania from August 10 to 15, 2018.“Historic rainfall this summer created a financial disaster for many communities across the state,” Governor Wolf said. “We hope that our request for Individual Assistance, which was submitted at the same time, is also granted.”Public Assistance was awarded to the following counties: Bradford, Columbia, Lackawanna, Lycoming, Montour, Schuylkill, Sullivan, Susquehanna, Tioga and Wyoming. The governor’s request for Individual Assistance, which would make a variety of programs available to citizens to meet their recovery needs, is still under review by the Federal Emergency Management Agency (FEMA).Through the Public Assistance program, applicants can be reimbursed up to 75 percent of the costs incurred on eligible expenses, such as but not limited to: costs associated with paying overtime, repairs to damaged infrastructure, equipment rentals and materials.Over the coming weeks, staff from the Pennsylvania Emergency Management Agency will hold meetings with applicants to thoroughly review all application documentation before forwarding it to FEMA. The process is expected to take several weeks, and all reimbursements are handled electronically.In order to request Public Assistance, the commonwealth overall must meet a threshold of $19,053,569. Estimated costs associated with this incident period total nearly $62.8 million. The governor signed a Proclamation of Disaster Emergency, which is a required step in order to request federal aid, for this storm on August 17 Commonwealth Receives Federal Aid for Severe Storms in August SHARE Email Facebook Twittercenter_img November 27, 2018last_img read more

Continue reading

USS: Further delay to funding agreement risks regulatory action

first_imgThe pension fund for the UK’s higher education system will not incorporate revised risk appetite information from sponsoring employers into its latest funding agreement in part because of concerns a further delay could bring a regulatory penalty. The £60bn (€67.8bn) Universities Superannuation Scheme (USS) has started a consultation with employers on a deficit recovery plan and schedule of contributions that would finalise the 31 March 2017 valuation. Disagreements between unions and employers about the valuation ultimately led to strikes on campuses across the country this year and the formation of an independent panel of industry experts to attempt to resolve the dispute.The proposals put forward by USS were based on planned contribution increases arising from a default cost-sharing process that kicked in when Universities UK (UUK) – which represents employers – and University and College Union (UCU) – representing members – failed to agree on an approach to the scheme deficit. The joint expert panel (JEP) had recommended that sponsoring employers’ attitude to risk be reassessed, which it said could lead to lower contributions than those planned by USS, and that this and other measures be implemented within the 2017 valuation.   University employers have expressed willingness to bear more risk through USSHe explained that the scheme was also proposing to stick with deficit recovery contributions of 6% for the 2017 valuation after having considered funding and market developments since 31 March 2017.As at the end of October the scheme’s funding position, based on the distance from its ‘self-sufficiency’ benchmark, was not markedly better than that of March 2017, Galvin noted, and Gilt yields were somewhat lower than projections made in 2017.The scheme would, however, review its stance on the deficit recovery contributions in January following the consultation with the UUK, and before submitting the completed valuation to TPR.Galvin also reiterated USS’s intention to proceed with a new valuation using data from 31 March 2018, after sponsoring employers agreed to more risk. The scheme expected to issue a technical provisions consultation to UUK in the coming weeks.He asked UUK CEO Jarvis to provide feedback on the draft contributions schedule and recovery plan by 11 January to allow USS to complete the 2017 valuation and submit the final valuation report to TPR.Alternative approach?In an explanatory note to UUK on USS’s proposal, Aon consultants floated an alternative approach to the two-valuation route being pursued by USS, which it said could effectively create a problematic “backstop” position if the 2018 process was not satisfactorily resolved within a reasonable amount of time after the conclusion of the 2017 valuation. Instead, Aon said, the scheme could implement an interim plan for contributions before completing the 2017 valuation, replacing current contributions with those due from 1 April 2019 (19.5% for employers, and 8.8% for members). These would apply until the 2018 valuation were agreed. Under USS’s proposal, contributions contributions would increase from 1 October 2019 and then again on 1 April 2020. An interim schedule based on the 1 April 2019 contributions would have several benefits, according to Aon, including that it “would be consistent with the trustee’s position of a 2018 valuation being the most appropriate approach to consider the JEP’s recommendations, and to the agreement of all parties to a resolution ahead of JEP phase 2”.The consultants noted that further information would likely be available before the deadline of USS’ consultation on the deficit recovery plan and contributions schedule. According to Aon, USS was looking to submit the completed 2017 valuation to TPR in February. In a letter to Alistair Jarvis, chief executive of UUK, Bill Galvin, his counterpart at USS, said the scheme acknowledged the prospect of “a material change in the views offered to the trustee to date on such fundamental issues as market risks, investment strategies and contribution levels” since USS had consulted with the UUK in September last year.“It is clear at this stage of the process that the consequences of any such delay could include the very real risk of regulatory sanction”Bill Galvin, USS chief executiveHowever, reopening the discussion “on such fundamental issues” in relation to the 2017 valuation would introduce further delays in increasing the contributions to the scheme and meeting the costs of the benefits currently accruing, said Galvin.“It is also clear at this stage of the process that the consequences of any such delay could include the very real risk of regulatory sanction, with the Pensions Regulator [TPR] ultimately having powers to direct the trustee on how to calculate the technical provisions, change the benefits and/or set the contribution rates for members and employers,” wrote USS’ chief executive.The statutory deadline for completing the 2017 valuation was 30 June 2018 – 15 months after the valuation date – and Galvin noted the scheme “has been in breach of the law ever since”. last_img read more

Continue reading

St. Louis Team #1 CYO Deanery Champs

first_img2004 Batesville CYO Deanery Championship @ St. Louis Gym.St. Louis  63     Holy Family  62For STL, Ben Wilson 21; Tom Chaffee 19; Connor Dickey 17; Justin Laswell 15; Jordan Dickey 12; Noah Gausman 13; Jacob Wilson 10; Ryan Wilson 9.2014 Batesville CYO Deanery Tourney Brackets ChampionshipAll CYO Deanery Team.Austin kern-St. Martin’s/St. Paul’s; Tyler Calihan-St. Michael’s-1; Ben Wilson-St. Louis-1; Jacob Wilsob-St. Louis-1; and Conner Dickey-St. Louis-1 (MVP).2014 All CYO Deanery TeamSubmitted by CYO Director Roger Dietz.last_img read more

Continue reading