Retirement Advisor

Highfields Capital Management LP increased its stake in Genworth Financial Inc. and the hedge fund plans to discuss options for the insurance company's mortgage insurance operations and other businesses, according to a regulatory document filed Thursday.

The plan for the 2012-13 fiscal year that begins Sunday would increase spending by about 1.5 percent, largely for debt, pensions, health care for the poor and to help fill a shortfall in the almost-finished fiscal year.

Workers hired after July 2 wouldn't get traditional pensions. Instead, they would have a retirement savings plan and contributions from Lockheed Martin.

RIAs who own small businesses can now begin digesting the reality of the PPACA; today's stock market fluctuations will also measure the impact of the decision.

The Governmental Accounting Standards Board has approved two new standards that should improve the accounting and financial reporting of public employee pensions by state and local governments.

The 100 largest public-employee retirement systems in the country saw their largest earnings on investments since the third quarter of 1974, according to new statistics released by the U.S. Census Bureau.

A bipartisan agreement was reached late Wednesday on a federal highway bill that includes provisions to prevent student loan rates from doubling as well as makes adjustments to defined benefit funding requirements.

Union leaders at American Airlines agreed to let pilots vote on a company proposal for deep cuts in labor spending, just two days before a bankruptcy judge could have imposed even tougher terms.