Defined Benefits

The increase in New Jerseys debt last year was driven by borrowing for the Transportation Trust Fund, which finances roadwork, and by pension and health benefits.

Support is growing among taxpayers in California's Ventura County for an initiative to channel all new employees into a 401(k) savings plan rather than a pension.

Detroits plan to end its $18 billion bankruptcy assumes bondholders offered 20 cents on the dollar will eventually swallow a deal that guarantees police and firefighters collect 90 percent of their pensions.

Stockton and San Bernardino may not recover unless they rein in their rising pension costs, Moodys Investors Service.

Detroits record $18 billion bankruptcy should end an erroneous presumption of municipal bond investors that they have more protection from losses than other creditors, a lawyer for the city told a judge.

Retirees need to be able to count on their monthly benefits, taxpayers of different ages need to be treated in a fair manner and contributions by government bodies to pension funds must be made in a steady way.