Retirement Trends

The pension law, passed a bill in December to repair the worst-funded U.S. state pension system, and Quinns tax proposal havent changed Illinoiss standing as the lowest-rated state.

The second-largest U.S. city relies on an overly optimistic forecast of 7.75 percent annual returns for its pension fund, causing the gap between available assets and obligations to widen, according to the report by the L.A. 2020 Commission.

The survey showed that on average, 53 percent of a family's savings are allocated toward retirement, compared with an average of just 10 percent for college.

A study also found that 70 percent believe the house they retire in will be the best home in which they have ever lived.

Imagine the ramifications if retirement advisors adapted aggressive pricing transparencies.

The proposals were quickly dismissed by Detroits emergency manager, Kevyn Orr, who said any sale would not only kill a proposal to pump $816 million into the citys underfunded pension systems, it would also hurt residents.