Legal

Proposals to change the retirement system for public employees in Tennessee stalled Monday in the Legislature when a joint panel of lawmakers decided they need more study.

State Sen. Fenton Groen's bill to create a defined contribution plan for workers could dilute pensions that police and firefighters received.

Retirement planning could be given a whole new angle with the Obama Administration's endorsement of the use of annuities in defined benefit plans.

PBGC director Josh Gotbaum addressed the agency's $26 billion coverage gap, asking for changes to set premiums based on the risk of the insured.

Medicare Advantage premiums have fallen by 7 percent, on average, while enrollment in the program has risen by about 10 percent since this time last year, according to Health & Human Services Secretary Kathleen Sebelius.

In the wake of American Airlines' announcement that it plans to terminate its pension plans as part of its bankruptcy reorganization, the Pension Benefit Guaranty Corporation has reiterated the company should reconsider the move.

Plan sponsors will now have until July 1 to meet the much-discussed regulations on 401(k) fee disclosure, following Department of Labor announcements Thursday on the final rulings.

The Los Angeles city attorney has sued a major financial institution, alleging its investment practices cost the city's pension fund $95 million.