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Some funds give investors access to hedge fund managers who previously only worked with accredited, high net-worth individuals or institutions.

The announcement came as the judge handling the $18 billion bankruptcy case urged Detroit to resolve disputes with suburbs that rely on it for water and sewer services.

Yesterday, a committee of retirees announced that it had reached a deal with the city. Shortly after that, Detroit filed a new debt-cutting proposal, describing agreements with the two pension funds that operate the retirement plans for 30,000 active and retired municipal workers.

Stockton, Californias plan to fully pay employee pensions after leaving bankruptcy may lead to more unfilled potholes and unpaved streets, according to a Sonoma County citizens group.

The Canadian government's proposal for its new hybrid pension plan is receiving mixed reviews, with some pension experts in favor and labor groups opposed.

Mayors across the state of Illinois are urging legislators to overhaul police and fire pension plans to alleviate the financial burden on local governments.

Oakland's payments to the state pension system jumped from $37 million in 2003 to $89 million in 2012.

The key question one faces after retirement is the determination of whether or not funds should be moved from an ERISA-governed plan to an IRA.