Defined Benefits

Philadelphia agreed to sell its natural gas utility to UIL Holdings Corp. for $1.86 billion, giving the fifth-largest U.S. city a needed cash injection for its pension fund.

California got some good news recently when Assembly Speaker John Perez called upon lawmakers to act this year to find a solution to the states largest fiscal issue -- the $80 billion unfunded liability of the teacher pension system.

The billionaire investor says public pension plans threaten the financial health of U.S. cities and states more than taxpayers realize.

The Firefighters' Retirement System, the Municipal Employees Retirement System and the New Orleans Firefighters Pension and Relief Fund invested a combined $100 million with Alphonse Fletcher Jr., a Wall Street financier.

Ive been combing my memory, trying to come up with a stunt that equals what Jacksonville, Fla., is trying to pull with JEA, the water and electric utility that is the largest community-owned utility in Florida. I cant.

The second-term Republican said he would consider using executive actions if the Democratic-led legislature wont agree to more changes.