Legal

The Labor secretary says Gov. Jerry Brown's reform plan diminishes both the substantive rights of transit employees under current collective bargaining agreements and narrows the future scope of collective bargaining over pensions.

Banks, bond insurers, employee pension systems and others standing to lose big if a federal judge declares Detroit insolvent are expected to legally file their objections to the largest municipal bankruptcy in U.S. history.

It calls on the SEC to establish a proactive agenda to advance the mission of protecting investors, maintaining fair, orderly, and efficient markets, and to facilitate capital formation.

About 18,000 workers employed by the state of Michigan won a court ruling knocking down a pension fee this week.

The U.S. Supreme Courts repeal of the Defense of Marriage Act has many plan sponsors worried about how to treat same-sex couples within retirement plans.

Michigan state employees will not be forced to pay 4 percent of their income to participate in pensions, ruled a Michigan Court of Appeals. The decision upholds a lower court ruling from October 2012, and finds the entire 2011 law unconstitutional.