Defined Benefits

Illinois Gov. Pat Quinn is continuing his slightly bizarre video campaign aimed at exciting residents about pension reform, as the state faces credit downgrades for continued dithering.

Portions of New York's $128 billion public pension fund will be invested in housing, transportation and utility work to help prevent damages from any future storm.

New Jersey faces a series of increasingly urgent budget pressures, including keeping pension and health insurance promises to retirees, funding health care for the poor and repairing aging roads and bridges, said three independent experts who published a report examining the state's financial condition Thursday.

If the West Coast public pension giant gets its way, it will be paid before the issuers of municipal bonds will in cases of bankruptcy - radically altering the future of bonds as investments.

A joint statement from two groups expresses concern over proposed pension accounting rules.

The latest reports from BNY Mellon Asset Management show that the funded status of the typical U.S. corporate pension plan fell in May, the first fall in right months.

S&P 500 defined pensions remain underfunded by $245 billion, despite slight growth in 2010.

New Hawaii government employees will work more years, contribute higher amounts toward their pensions and get paid less after retirement, according to sweeping proposed changes to the state's underfunded pension system.