“It's the state's fault that we've got the deficit we have," Governor Murphy said, about the pension problems.

Officials want to keep the right to sue on behalf of the public when securities laws are violated.

The California Public Employees Retirement System is weighing whether to shorten the amortization period for new pension liabilities from 30 years to 20, which might push some local governments into bankruptcy.

As CalPERS, the nations largest public pension, deals with a growing gap between whats been promised and whats been set aside, it may slash the checks of workers by 63 percent.

The board of the California Public Employees Retirement System voted to cut some retirement benefits of people who worked for a former sawmill town that quit the program. It may be the first time the largest U.S. public pension has taken such a step.

A court has said that pension benefit cuts are permissible.

Health-care bonds are beating the overall $3.7 trillion municipal market for a third straight year as the Affordable Care Act improves business.

California is trying to fix the 2nd-biggest public pension fund in the U.S., CalSTRS. But is it working?