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The Montana Legislature inched closer to finding a fix for its beleaguered pension system when a committee decided to advance both of the major proposed fixes.

Federal authorities announced Monday that Illinois has agreed to settle a securities-fraud charge that accused the state of misleading investors about the financial health of its public-employee pension systems, which are now $96.7 billion short of what's needed to cover promised retirement benefits.

The top Illinois House Republican and the Democrats' pension point person proposed yet another solution Wednesday to the state's public retirement system debacle, one that signals the GOP's first concession toward shifting teachers' pension costs to local school districts.

Making newly hired school and state employees enroll in a 401(k)-style plan would not seriously affect Pennsylvania's two largest traditional pension funds, so long as a new plan is adequately funded, administrators told lawmakers Wednesday.

Puerto Rican officials on Wednesday proposed what they called "severe" cost-saving measures designed to help rescue one of the U.S. territory's public pension systems that is on the brink of collapse.

Federal employee labor unions are trying to soften the blow for more than 1 million government workers who may be forced to take unpaid time off if mandatory budget cuts kick in this week.

Tennessee's treasurer said Monday that he wants to overhaul the state's public retirement system to cut costs and ensure it can pay out benefits for years to come.

The American Society of Pension Professionals & Actuaries has joined 775 other financial organizations in support of 2013 America Saves Week, a movement designed to encourage Americans to take financial action to begin or increase their savings efforts.