Legal

As the nation tightens its budget belt, the century-old military retirement system has come under attack as unaffordable, unfair to some who serve and overly generous compared with civilian benefits.

A study released Friday by a pension-reform group suggests California state and local governments could save billions of dollars a year by moving to a hybrid retirement plan similar to one used by the federal government.

Demographic and administrative concerns are some of the factors that scare insurers away from bidding on the Federal Long Term Care Insurance Program contract, according to officials at the U.S. Government Accountability Office (GAO).

The Connecticut Appellate Court ruled Wednesday that the town of Fairfield may not make claims for millions in losses to its pension fund due to disgraced financier Bernard Madoff's fraud scheme.

The AARP and other retiree groups on Wednesday said they will argue before the Michigan Supreme Court that parts of the state's new tax on pensions are unconstitutional, particularly related to public employees.

From the helicopters they fly to the base housing where their children sleep at night, U.S troops and their families are directly affected by the prospect of deep cuts in the Pentagon's budget, which surely will shrink over the coming decade as the military closes out two wars, trims its...