In North Carolina, the state treasurer has the sole authority to invest pension funds and the union representing tens of thousands of state employees has for a long time been calling for an investment board to manage the funds.
A majority of Americans have reported being "very" or "moderately" worried about retirement savings every year since 2001, illustrating that saving for retirement rattles Americans in both good and bad economic times.
Under North Carolina law, the state treasurer has the authority to make decisions about pension fund investments, and the SEANC is calling for an investment board to manage the money.
Mayors across the state of Illinois are urging legislators to overhaul police and fire pension plans to alleviate the financial burden on local governments.
For some large companies, a defined benefits plan is a cost-effective way to provide additional rewards to some of their most valuable workers while allowing the employer to retire employees in an orderly manner.