The White House and the Defense Department are proposing changes to military retirement benefits.» Read More
A group of well-to-do German senior citizens, who lost their savings in the credit crunch, staged a revenge attack and held their terrified financial advisor to ransom, according to several published reports Wednesday.
Chrysler and Italy's Fiat urged the US Supreme Court late Tuesday to move quickly on Chrysler's proposed sale to Fiat, saying their government-brokered deal could still unravel if it doesn't close by a June 15 deadline.
The Government Accountability Office warns in a new study that the long-term stability of traditional, defined benefit pension plans "is now vulnerable to the broader trends of eroding retirement security."
Calpers, California’s public pension fund, told over two-dozen hedge fund managers this month that they could lose Calpers’ business unless it gets better terms such as changes in fee structures, according to the Wall Street Journal.
The U.S. Department of Labor filed complaints Wednesday accusing suspended NFL star Michael Vick of illegally spending about $1.3 million in pension plan funds for his own benefit, including paying restitution ordered in his dogfighting conspiracy case.
Police say vandals have attacked the home of Sir Fred Goodwin, the former CEO of Royal Bank of Scotland whose 700,000 pound ($1.2 million) annual pension has prompted public outrage.
The British government was unaware of the huge pension given to the former CEO of part-nationalized Royal Bank of Scotland and the bank ignored its own standards in awarding the massive payout, a Treasury minister testified Tuesday.
As the economy continues to struggle, the public is growing increasingly concerned about losing jobs, not having enough money to pay the bills and seeing their retirement accounts shrink, according to an Associated Press-GfK poll.
Pension under-funding is becoming the latest problem for corporations. In the last couple days, Hershey, U.S. Steel, Delta, and Canadian Pacific have noted that their company pensions were underfunded.
Despite its overall troubles, General Motors appears to have enough money in its pension fund to last a decade or more, the New York Times reports.
Stung by outsize investment losses, some of the nation’s biggest companies are pushing Congress to roll back rules requiring them to put more money into their pension funds, just two years after President Bush signed a law meant to strengthen the pension system.
A coalition of 200 businesses and trade groups—including some of the biggest companies in the world—is asking Congress for relief from a two-year-old federal law requiring them to more fully fund their pension plans.
As Democrats celebrate winning the White House and gains in Congress, the victory is rippling through the $11 trillion mutual fund industry in anticipation of reforms to retirement plans that could hurt earnings.
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China's national pension fund will not make significant changes to its investment portfolio despite suffering big losses in equities, the fund's chairman, Dai Xianglong said in comments published on Monday.
As cities and states struggle with ballooning retirement costs, accounting rule makers started an ambitious project Thursday to force state and local governments to issue better numbers and reveal the true cost of their pension promises.
If the nation's largest public pension fund, which prides itself on being savvy, takes a beating in real estate, well, then, who didn't? CalPERS is reaping the bad seed sown in certain deals over the last few years.
Public pension actuaries use old methods that have fallen far out of sync with the economic mainstream, The New York Times reports.
The chief executive officer of the California Public Employees' Retirement System (Calpers), the biggest U.S. pension fund, said on Monday he would retire, days after its chief investment officer said he would step down.