Defined Benefits

The growth underscores the growing demand for professional investment services among workplace savings accounts, such as 401(k) plans.

Things are dire enough that a coalition of employers and labor unions is asking Congress for permission to cut benefits to retired truck drivers, miners and others as a last resort in order to prevent plans from going under.

The payouts come at a time when the city of Houston is suing the firefighters pension fund for the right to have local negotiating power over the citys future contributions to the fund.

The increase in New Jerseys debt last year was driven by borrowing for the Transportation Trust Fund, which finances roadwork, and by pension and health benefits.

Support is growing among taxpayers in California's Ventura County for an initiative to channel all new employees into a 401(k) savings plan rather than a pension.

Detroits plan to end its $18 billion bankruptcy assumes bondholders offered 20 cents on the dollar will eventually swallow a deal that guarantees police and firefighters collect 90 percent of their pensions.

Stockton and San Bernardino may not recover unless they rein in their rising pension costs, Moodys Investors Service.

Detroits record $18 billion bankruptcy should end an erroneous presumption of municipal bond investors that they have more protection from losses than other creditors, a lawyer for the city told a judge.