Search Results

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.

Cerulli Associates announced that total assets in the U.S. retirement market, including public and private defined-contribution, defined-benefit and individual retirement account markets, increased 9.6% in 2010 to $15.8 trillion.

State retirement systems increased their holdings by 10.7 percent in 2010, according to the U.S. Census Bureau. They had $2.2 trillion in cash and investment holdings, an increase of $213.9 billion from 2009. This followed a $610.8 billion loss the previous year.

It's the most expensive metropolitan setting in the United States, and the results may be grim for hard-working New Yorkers, more than a third of whom can't afford to retire.

New York City Mayor Michael Bloomberg said Tuesday that with an $8 billion pension bill squeezing the city's finances, state legislators should back the governor and create a new lower pension tier for future municipal and state workers.