Legal

Yet another independent study comes out underlining the steep price retirement investors pay when exposed to unnecessary conflicts-of-interest.

The top Illinois House Republican and the Democrats' pension point person proposed yet another solution Wednesday to the state's public retirement system debacle, one that signals the GOP's first concession toward shifting teachers' pension costs to local school districts.

Making newly hired school and state employees enroll in a 401(k)-style plan would not seriously affect Pennsylvania's two largest traditional pension funds, so long as a new plan is adequately funded, administrators told lawmakers Wednesday.

Tennessee's treasurer said Monday that he wants to overhaul the state's public retirement system to cut costs and ensure it can pay out benefits for years to come.

New tax law changes as part of the fiscal cliff deal could have a negative impact on portfolio returns in 2013 and beyond, according to Fidelity Investments.

Lockheed Martin Corp. will pay $19.5 million to settle a lawsuit claiming that the defense contractor misled investors.