Retirement Trends

Support is growing among taxpayers in California's Ventura County for an initiative to channel all new employees into a 401(k) savings plan rather than a pension.

One-third of survey participants said they were meeting their savings goals but 63 percent said they were making only fair or no progress in this area.

Detroits plan to end its $18 billion bankruptcy assumes bondholders offered 20 cents on the dollar will eventually swallow a deal that guarantees police and firefighters collect 90 percent of their pensions.

American International Group Inc.s U.S. life insurance operation had its credit rating upgraded by A.M. Best after posting higher sales of retirement products including annuities.

Transparency in 401(k) fees has been a major topic for more than a year. As more light has been shed on them, some plan sponsors have been able to get them lowered.

Sen. James Rosapepe, Sen. Richard Madaleno and Del. Tom Hucker will announce the legislation they are sponsoring at a press conference on Thursday, Feb. 27.