Defined Benefits

Faurecia has 4,800 plan participants in its defined contribution plan, with $200 million in assets, and more than 2,000 plan participants in its defined benefit plan, with $45 million in assets.

Will our retirement system create the message to new workers that working for the man, whether hes in the private or public sector, is a losing proposition?

Calpers said fees paid to external firms for performance more than doubled in the year that ended June 30 to $377.6 million, up from $165 million the previous year.

General employees pensions would shrink by 4.5 percent while police and fire employees would see no reduction in their monthly pensions and have their cost-of-living adjustments capped at 1 percent.

The deal struck last week is a sign of progress in negotiations to exit bankruptcy and would shift 26 percent of $388 million in claimed liabilities to pensions and to overdue payments on debt.

Public pension plans now have just $3 trillion to invest to be able to pay out future benefits of $10 trillion over the next decades.