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Statistics paint a picture of millions of senior citizens forced to live in poverty after their working years end. Congressional gridlock, however, prevents any action that would allow Social Security benefits to remain at promised levels.

Until regulators do whatever they're going to do, here are six things every employer should know about fiduciary liability at this moment.

The list of topics board members must have knowledge of include understanding financial statements, economic principles and actuarial methods.

The overhaul, approved by the General Assembly this week after years of delay and inaction, cuts benefits for most employees and retirees. It has a June 1 effective date, but could be delayed by the legal challenges.

A study of about 85 percent of state and local retirement plans found assets had grown to $2.67 trillion, while liabilities totaled $3.63 trillion by the end of 2012.

Detroit might very well be only the first domino as the bankruptcy decision gives precedence to other government entities contemplating the same strategy.

Rising equities and decreasing bonds prices, along with a higher discount rate, are giving corporate pension funds their best positions in five years.

Illinois' unions don't like the proposed deal to reform the state's troubled pension system.