Defined Benefits

The Pension Benefit Guarantee Corp. will pay the retirement benefits of more than 1,400 current and future retirees of Interfaith Medical Center, a 287-bed hospital in Brooklyn, N.Y.

New Jersey Governor Chris Christie said hell reverse course on promised pension contributions this year and next, cutting back to balance the budget after revenue fell short of his goals by as much as $875 million.

A decision from the Supreme Court could have a big impact on employers healthcare obligations to retired union employees.

The Pension Coalition says higher premiums would amount to a cumulative $51.4 billion hit to the economy over the next 11 years, and cost an average of 42,000 jobs a year.

It says too many of the most negative assessments rely on models that dont adequately reflect changes over a workers life.

Retirement advisors will want to take note of the final ruling, particularly those with public safety officers as clients.