Defined Benefits

Chicago has been stalling on pension contributions for many years, a problem fueled in part by the economic downturn, and no viable solutions seem anywhere near.

With interest rates now creeping up, it may be worth looking at a small but fast-growing niche of the fixed annuity universe.

U.S. retirement assets rose 1 percent to $20.9 trillion in the second quarter of 2013, according to the Investment Company Institute.

The U.S. Postal Service has defaulted on $5.6 billion in retiree health benefits, compounding its already tenuous financial position.

A key Republican lawmaker proposed borrowing $9 billion Monday as part of a new approach to rein in the soaring costs of pensions for nearly 380,000 Pennsylvania teachers and state employees.

The initiative would allow changes to be made to the retirement benefits of current employees.