Defined Benefits

A study, which analyzed a database of 688 pension plans said the rise in interest rates since the start of 2013 gives plan sponsors a break from years of low rates

The State Retirement Systems, covering pensions for ex-state employees, judges and lawmakers, withdrew $29.7 million in 2013, down 88 percent from $248.7 million a year earlier.

Without Social Security, the poverty rate among older adults would rise from 9.1 percent to 44.4 percent.

The New York-based auction house spent months determining the collection's fair market value after Detroit filed for bankruptcy last summer.

EBRIs report builds on an earlier modeling analysis, using a stylized final average DB accrual of 1.5 percent of final compensation per year of participation, to compute the retirement income at age 65, across a range of tenure and income factors.

Cash and security holdings totaled $3.06 trillion in the third quarter this year, a 4 percent increase from $2.94 trillion in the second quarter of 2013.