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Duncan Black, a conservative author, says government confiscation of 401(k)s may loom.

A proposal to shore up the long-term finances of a pension system for state and local government workers in New Mexico cleared the Legislature on Wednesday and heads to Republican Gov. Susana Martinez.

Americans are highly anxious about their retirement prospects, a report from the National Institute on Retirement Security found.

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.