Legal

Rep. Sean Ryan, a Democrat from Buffalo, and Sen. George Maziarz, a Republican from Newfane, are co-sponsoring bills to stop the practice.

S&P analyst John Sugden warns that if Pennsylvanias political leaders dont implement meaningful pension reform, the agency will lower ratings for the $545 million the state plans to borrow in general obligation bonds, and the $293 million it has planned for bond refunding.

The SEC is trying to track down $22 million that cant be accounted for.

While the ABA opposes a fiduciary role, Schroders has supported lobbying for it by the Association of Institutional Investors, whose members oversee more than $10 trillion in mutual funds, pensions and other accounts.

The bill directs the executive branch to create a public retirement savings plan for all Connecticut residents and businesses.

The announcement came as the judge handling the $18 billion bankruptcy case urged Detroit to resolve disputes with suburbs that rely on it for water and sewer services.