Sen. Nancy Kassebaum, R-Kansas, and chairman of the Senate Labor & Human Resources Committee, today announced she plans to step down at the end of her third term in January 1997. Ms. Kassebaum, a moderate Republican, most recently introduced a bill that would require the Labor Department to give guidance on how insurance companies should deal with pension fund investments in their central investment pools. She also actively pushed for the inclusion of pension simplification provisions in the Senate tax package.
The $700 million Arlington County (Va.) Supplemental Retirement System hired Bruce Kallos, a former trustee to the Delaware State Employees' Retirement, as administrator. He said changes are likely to occur at the fund, as often happens when a new fund administrator takes over, but it is too early to offer any specifics