Retirement Trends

Payments will be reduced from $500 billion this year to between $100 billion and $200 billion each year from 2014 through 2017.

Total U.S. retirement assets climbed to a record $21.7 trillion in the third quarter.

Collections to the general revenue fund, the state's main operating account, are dwindling as a result of legislation over recent years to divert money directly to pay for things like transportation, education, pensions, and various tax credits and incentives.

Investors around the world were largely unfazed Thursday by the surprise decision by the U.S. Federal Reserve to reduce its monetary stimulus.

Stocks surged Wednesday, lifting the Dow Jones industrial average nearly 300 points, after the Fed decided it was time to start modestly scaling back its program to boost America's growth and stock market.

The effect of the premium hikes could increase the carrying costs of unfunded pension liabilities by more than 3 percent.