The superannuation scheme of Australia Post, Melbourne, will become the first client for Towers Perrin's new Australian benefit administrative services operation in Sydney. The Australia Post is already a client of Towers Perrin for consulting services. The pension scheme collects contributions of A$121 million (U.S. $90.75 million) annually and has assets of more than A$2 billion (U.S. $1.5 billion.)
Johnson & Johnson, in response to a shareholder resolution, agreed to establish a written policy banning discrimination on the basis of sexual orientation. The sponsor, Franklin Research & Development, then withdrew the resolution. Franklin had asked J&J to adopt the Equality Principles on Sexual Orientation; J&J is the first company formally asked to adopt them.
