Defined Benefits

A group of California mayors is opposing a pension-reform referendum that would empower them to reduce expenses while risking their support from unions.

U.S. state pensions driven by a booming stock market continued to recover last year, up 3 percentage points from 2012,

Thats so even if the plan meets all of the U.S. tax qualification requirements for coverage by PBGC insurance.

Philadelphia agreed to sell its natural gas utility to UIL Holdings Corp. for $1.86 billion, giving the fifth-largest U.S. city a needed cash injection for its pension fund.

California got some good news recently when Assembly Speaker John Perez called upon lawmakers to act this year to find a solution to the states largest fiscal issue -- the $80 billion unfunded liability of the teacher pension system.

The billionaire investor says public pension plans threaten the financial health of U.S. cities and states more than taxpayers realize.