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A round-up of the weeks employee benefits news, reports and controversy

Plan sponsors will now have until July 1 to meet the much-discussed regulations on 401(k) fee disclosure, following Department of Labor announcements Thursday on the final rulings.

The Los Angeles city attorney has sued a major financial institution, alleging its investment practices cost the city's pension fund $95 million.

Theres a common misconception about how people plan for their retirement: They dont. And while it used to be something that would often work itself out, thats no longer the case.

The company also wants union approval to drop its traditional pension plans, which cover 130,000 employees and retirees. It would replace them with 401(k)-type plans under which the company contributes to workers' retirement accounts.

The federal pension-insurance agency filed $91 million in liens against American Airlines property in a bid to pressure the company to save its retirement plans instead of dumping the obligations on the agency.

Once pension and health benefits are factored in, the average federal worker reaps 16 percent more in total compensation than do private sector workers.

A new study by Towers Watson examined 13 major pension markets, totaling $27.5 trillion and accounting for 72.3 percent of the GDP of these markets. This represented a 3.9 percent increase compared to the year-end 2010 value.