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The South Dakota Legislature acted legally when it trimmed the annual cost-of-living increase for retirees in the state's public pension plan during the recent economic crisis, a state judge ruled Wednesday.

Montana Gov. Brian Schweitzer proposed an aggressive public pension fix Tuesday, a plan that comes as he nears the end of his term and one that faces a very uncertain future when it goes to his successor and the Legislature next year for potential implementation.

The unfunded liability for California's teacher pension fund has risen to $64.5 billion, an amount that is $8.5 billion higher than a year ago but not as bad as forecasts had anticipated, fund officials said Tuesday.

State office building guards voted to strike, saying their employer has failed to make pension contributions required by contract.

Americans, living longer, are "resetting their retirement clock," according to retirement expert Ken Dyctwald. Nearly half want to cycle between work and leisure.

High management costs and lower-than-expected returns are causing some public pension funds to reconsider their investments in private equity and hedge funds.

California has been hard hit since the economy took a dive in 2008. Pension reform tops the list of items that would save both local and state governments money.

Thousands of people from across Poland demonstrated noisily Friday outside Parliament to protest government plans to raise the retirement age to 67.