Defined Benefits

California lawmakers are expected to vote Friday on an on-time Democratic spending plan that includes a historic education funding shift to boost the fortunes of school districts with high numbers of poor and minority students while restoring some social services that fell victim to the recent recession.

Top executives of a bankrupt coal producer and the nation's biggest miner's union are trading public jabs over bargaining meant to stave off a strike against a company given a court's go-ahead to slash health care and pensionbenefits to thousands of workers and retirees.

South Carolina's pension fund investments are expected to post double-digit earnings for the current fiscal year.

The SEC has accused a Detroit-based investment advisor of stealing nearly $3.1 million from the city's police and firefighter's pension plan.

The federal goverment is attempting to recover $4.9 million for defined benefit plan participants of an Iowa iron casting foundry and a Michigan manufacturer.

A second major rating agency is downgrading Illinois' credit worthiness.