Legal

Politics aside, tax reform is coming and it could well mean an overhaul of the pension system including a government takeover.

Broker-dealers are worried that the proposed changes to the fiduciary standard could cost them up to $8 million to set up and about $2 million a year to maintain. Thats per broker-dealer.

California officials are suing the U.S. Department of Labor for denying billions of dollars in mass transit money to the state after lawmakers approved pension reforms.

The American Society of Pension Professionals & Actuaries wrote to the IRS this week to object to certain paperwork requirements arising from the Supreme Courts decision to strike down a key portion of the Defense of Marriage Act.

Now that Oregon lawmakers have voted to cut retirement benefits for government workers, the battle moves from the Capitol to the courthouse.

Chicago has been stalling on pension contributions for many years, a problem fueled in part by the economic downturn, and no viable solutions seem anywhere near.