Defined Benefits

The two pensions sponsored at the state level in Pennsylvania could have unfunded liabilities of $65 billion by 2021.

Pension obligation bonds being pitched as a remedy to plan funding woes in two states meet a mixed fate from lawmakers.

The plans combined cover over $3.3 billion in assets for more than 12,600 employees.

A former automotive mogul and trustee to several pension plans has been banned from being a fiduciary by a federal judge and ordered to pay restitution for illegally using plan assets.

Consumer advocates worry that participants potentially face a reduction in their retirement assets when they accept a lump-sum offer.

The average funded ratio for these plans ranged from 87.6 percent to 99.8 percent, considerably better than many others.