Legal

An Illinois registered investment advisory company has been ordered by a federal judge to pay back $1.2 million to four pension plan client accounts. The co-founder of the company used the money to invest in personal business interests, including a restaurant and a film distribution company.

A group of New York City pension funds is suing current and former Wal-Mart executives, saying they mishandled an alleged bribery scheme at the world's largest retailer.

Retirement ages around the world will have to be raised and moves made toward more private pension plans, according to the Organization for Economic Cooperation and Development.

The pensions of current public employees have long been generally considered untouchable. Politicians now say those obligations are trumped by the need to provide for the public's health and safety.

A business-backed lobbying organization that pushed for an overhaul of Rhode Island's public pension system last year has announced it has a new chairman.

A judge says the government can seize the pension of a former director of an Iowa job-training agency while she's incarcerated on charges that she misspent millions in tax dollars.