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The panel said the states combined liabilities in pensions and retiree health-care costs are about $90 billion.

The 25 largest U.S. public pensions face about $2 trillion in unfunded liabilities.

The Senate Finance Committee hears plenty of suggestions on ways to help people save more, but also that the idea of a retirement crisis is simply overblown.

For pension funds, an unrealistically high assumption means they can contribute less each year than they will need to meet future pension obligations.

While there are pockets of success, state plans last year had 75 percent of what they needed to meet retirement obligations.

Ted Eliopoulos, current interim CIO, succeeds the late Joe Dear.

Johnson & Johnson said the new retirement benefits structure will mirror the way the benefit landscape has continued to evolve in recent years.

Millennials overall dont see the advantages of putting money away for retirement, with 59 percent believing they havent seen products targeted at them.