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The funded status of the 100 largest corporate defined benefit pension plans improved by a whopping $388 billion in the past year, and $23 billion of that improvement came in July alone.

The City of San Jose aka Silicon Valley has been in court trying to find ways to cut its public-sector pension plan costs.

When Detroit became the biggest city in U.S. history to file for bankruptcy last month, it turned public attention to the municipal-bond market, where cities and states go to borrow money. Was this sleepy, often-overlooked area of the financial world actually dangerous?

Hundreds of thousands of San Francisco Bay area commuters got at least a temporary reprieve from a massive transit strike when Gov. Jerry Brown ordered an inquiry into a labor contract dispute.

Earnings at state-administered pension systems remained in positive territory in 2012 for the third consecutive year since the Great Recession. Thats the good news. Read on for the bad.

Is the city obliged to its past? Or can Detroit renege on its promises to thousands of retirees for the sake of its present city services?

Pension experts say that whatever decisions Detroit makes could set a precedent for retiree benefits in other cash-strapped cities and counties nationwide. To a degree, some precedent has exists, in Central Falls, R.I.

Experts say the best way for cities and states to get out from under crippling pension debt is to close their pension plans to new hires and move employees to lower-cost defined contribution plans. But there are additional ways to fix the problem.