Legal

Democrats said lawmakers should be wary of digging the state too big a financial hole, that its obligation to the pension fund will top $2 billion a year by 2016 and $1 billion or so will be needed to fund transportation projects through the Transportation Trust Fund.

Illinois Gov. Pat Quinn, responding to a dire new report on state finances Monday, said more clearly than ever that he wants schools and universities to help pay for their employees' retirement costs.

A website aimed at drawing attention to thousands of Tulsa-based American Airlines workers whose jobs and pensions could be in jeopardy as the struggling air carrier continues through bankruptcy was launched Monday by the local Transport Workers Union.

More than eight in 10 households believe the current tax incentives to encourage retirement saving should be preserved, according to new research by the Investment Company Institute.

As the DOL's fee disclosure regulations take effect early this year, it's becoming increasingly important that 401(k) managers understand where their fees rank and if they're reasonable.

Employees of Pfizer Inc. have filed suit against the company, alleging the world's largest drug maker failed to properly manage its retirement plans and caused losses totaling hundreds of millions over the past decade in one of the hubs of the pharmaceutical industry.