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Local officials in at least 10 states are trying to cut pensions of municipal workers, or eliminate defined-benefit plans, pointing to Detroit as a symbol of the peril of growing retirement costs.

Joseph Dear, who as chief investment officer of the California Public Employees Retirement System rebuilt the biggest U.S. public pension after a $96 billion loss, died yesterday in Sacramento. He was 62.

The increase in New Jerseys debt last year was driven by borrowing for the Transportation Trust Fund, which finances roadwork, and by pension and health benefits.

The panel has been convened by the Society of Actuaries to assess the current state of pension plan funding and make recommendations to improve the financial strength of public pension going forward.

Support is growing among taxpayers in California's Ventura County for an initiative to channel all new employees into a 401(k) savings plan rather than a pension.

Detroits plan to end its $18 billion bankruptcy assumes bondholders offered 20 cents on the dollar will eventually swallow a deal that guarantees police and firefighters collect 90 percent of their pensions.

Roger Roemmich, a CPA, long-time wealth manager and author of Dont Eat Dog Food When Youre Old, says people heading into retirement are focusing on the wrong variables.

Stockton and San Bernardino may not recover unless they rein in their rising pension costs, Moodys Investors Service.