Retirement

The American Legion believes the Obama administration has broken its promise to keep Americas Armed Forces the best trained, best led, best-equipped fighting force in history by cutting the 2013 U.S. Department of Defense budget by 8 percent from 2012.

Most Americans plan to save or invest their 2011 tax refunds, according to a TD Ameritrade Holding Corp. survey.

As part of America Saves Week, the U.S. Department of Labors Employee Benefits Security Administration will host a free webcast for small business owners talking about choosing a retirement savings plan and helping employees save for retirement.

Overspending in retirement is a huge issue, in large part because people dont know how much they have saved and they take too much out of their savings when they do retire.

General Motors Co. plans to freeze its U.S. pension plan for longtime white-collar workers and give all salaried employees annual bonuses but not pay raises in an effort to hold down expenses, officials announced Wednesday.

Two Republican senators unveiled a Medicare rescue plan Thursday that features an accelerated transition to private health insurance for many seniors, a gradual increase in the eligibility age, and higher premiums for middle-class and upper-income retirees.