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At a time when the nations legislative wheels seem mired in partisanship, the last week of January turned out to be a busy one for retirement plan proposals.

After the U.S., where assets rose 12 percent to $18.9 trillion, were Japan with 10.2 percent of assets, and the United Kingdom, with 10.1 percent.

Public defined benefit plans, endowments and foundations also lost ground in January as a result of the falling equity markets.

Defined benefit plan assets increased 8.11 percent to $5.67 trillion and defined contribution assets jumped nearly 17 percent to $2.68 trillion.

States need to regularly check on pension obligations and liabilities and other long-term expenses to ensure funding obligations are met, said a report.

The Grand Canyon Institute, based in Phoenix, said switching employees from a traditional pension plan would likely cause shortfalls as contributions from employees dried up.

Its a little bit of a shock to discover that many retirement plan sponsors are clueless about just what they need to do to make sure they dont run afoul of the regulations.

Stanger was a primary author of a little-noticed piece of a 1978 tax law.Today, 401(k) is likely the most recognizable number in the Internal Revenue Code.