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When students return Thursday for the first day of school across Wisconsin, many familiar faces will be gone, as teachers chose retirement over coming back in the wake of a new law that forces them to pay more for benefits while taking away most of their collective bargaining rights.

A key legislative committee approved a bill Thursday to give state regulators the power to reject proposed health insurance rate increases, but the measure faces a stiff fight on the California Senate floor.

As the nation tightens its budget belt, the century-old military retirement system has come under attack as unaffordable, unfair to some who serve and overly generous compared with civilian benefits.

If markets continue to be volatile after Standard & Poors downgrade of U.S. debt to Double-A+, pension funds will attempt to minimize their losses and buy bonds, says Brett Goldstein, president of The Pension Department in Plainview, N.Y.

Wall Street's volatility has hit state pension funds just as they were beginning to recover from the recession, turning what was merely a troubled forecast into a potentially stormy future for taxpayers who are on the hook for billions in unfunded liabilities for government retirees.

A study released Friday by a pension-reform group suggests California state and local governments could save billions of dollars a year by moving to a hybrid retirement plan similar to one used by the federal government.

As members of the congressional supercommittee are announced, those in the benefits field are no doubt asking themselves, "What will this mean for me?"

The AARP and other retiree groups on Wednesday said they will argue before the Michigan Supreme Court that parts of the state's new tax on pensions are unconstitutional, particularly related to public employees.