Legal

The Financial Industry Regulatory Authority announced Monday that it has fined LPL Financial LLC $950,000 for supervisory deficiencies related to the sales of alternative investment products, including nontraded real estate investment trusts.

Detroit Emergency Manager Kevyn Orr said time is running out for creditors to reach an agreement with the city on a plan to resolve the biggest U.S. municipal bankruptcy.

The Louisiana Supreme Court has ruled that the city of New Orleans must pay $17.5 million for its 2012 share of the city fire departments pension fund.

All sorts of changes are in the works including the evolving nature of fiduciary responsibility, the impact of Obamacare on retirement and the likelihood of upcoming DOL regulations.

All contributions to 401(k)s from employees are fully tax deductible, but under the Obama budget, the deduction would be capped at 28 percent for high-income earners.

A civic task force recommends that Jacksonville raise taxes to meet soaring retirement costs that have left a pension fund in Floridas most populous city with 39 percent of what it needs.