Retirement

One of President Barack Obama's top Senate allies says he's been assured by the White House that the president won't yield to GOP demands to increase the eligibility age for Medicare.

Fidelity Investments is trimming fees at its largest index mutual funds and making some of its lowest-cost options accessible to a larger number of fund shareholders, including those with as little as $2,500 to invest.

A tax reform panel approved a plan that could generate about $690 million a year in additional revenue largely from retirees by taxing more of their pensions.

Michigan acted swiftly compared with Indiana and Wisconsin, where votes to curb union rights followed weeks or months of discussion.

Total U.S. money market mutual fund assets rose $32.33 billion to $2.644 trillion for the week that ended Wednesday, according to the Investment Co. Institute.

Republican Comptroller Susan Combs said Tuesday "there are some warning signs in Texas" surrounding certain public-employee pension obligations but defended the stability of the state's largest retirement funds that total $139 billion and could face calls for reform next year.