The good news? It had a banner year last year, with almost a 13 percent return on investments for 2012.

Moodys Investment Services has placed 15 California transit agencies under review for a downgrade due to a potential lack of federal funding.

It calls on the SEC to establish a proactive agenda to advance the mission of protecting investors, maintaining fair, orderly, and efficient markets, and to facilitate capital formation.

Michigan state employees will not be forced to pay 4 percent of their income to participate in pensions, ruled a Michigan Court of Appeals. The decision upholds a lower court ruling from October 2012, and finds the entire 2011 law unconstitutional.

Same-sex spouses soon will see Social Security benefit checks in the mailbox.

California Democrats introduced a bill in the state senate urging state pensions CalPERS and CalSTRS not to invest future pension funds in Russia, citing that governments treatment of LGBT people.

Plaintiffs claim that poor management of a stable-value fund was in violation of ERISA standards.

State pension plans could do better with a greater mix of alternative investments in their portfolios, according to a report from Cliffwater LLC.