Defined Benefits

Christopher Ailman, chief investment officer of the California State Teachers Retirement System, said Facebook Inc. should have more women on its board of directors.

The SEC is trying to track down $22 million that cant be accounted for.

An analysis of the data post-crisis found that most of the recent efforts have been a move to either hybrid plans or to cash balance plans.

While the ABA opposes a fiduciary role, Schroders has supported lobbying for it by the Association of Institutional Investors, whose members oversee more than $10 trillion in mutual funds, pensions and other accounts.

The announcement came as the judge handling the $18 billion bankruptcy case urged Detroit to resolve disputes with suburbs that rely on it for water and sewer services.

Yesterday, a committee of retirees announced that it had reached a deal with the city. Shortly after that, Detroit filed a new debt-cutting proposal, describing agreements with the two pension funds that operate the retirement plans for 30,000 active and retired municipal workers.