Defined Benefits

The bungalow suburb of 37,000 residents asked Michigan for a review of its finances, which are so shaky that it diverted $2.5 million to pensions from a water and sewer account.

Like everyone else who dines at a restaurant in Omaha, Nebraska, Buffett is charged a 2.5 percent tax thats used in part to defray $850 million in unfunded retirement expenses for city workers.

While the rates arent directly followed by most investors, even small movements can affect the value of what Morningstar Inc. estimates is about $3.6 trillion in funds including pension and savings accounts that track global indexes.

Experts point to U.S. census projection, which show that the number of people aged 65 and older will more than double between 2012 and 2060, from 43 million to 92 million.

More than 90 objections were posted on the U.S. Bankruptcy Court website today, each one or two pages long and asking Judge Steven Rhodes to reject Detroits proposed plan of adjustment.

Boeing Co., the worlds largest planemaker, will freeze pensions for 68,000 nonunion employees and executives, shifting benefit payments to a 401(k)-style plan, as it works to cut costs.