The last of the one-time Big Three says it doesn't need to hatch a pension buyout scheme like Ford and GM have now done. Is the optimism real?

Perhaps a decision to move Illinois public employees into a hybrid 401(k)-style program and gradually remove state funding could offer a solution to Illinois' woes.

Votes Tuesday in several California cities may set a future course for public pension plans, with measures to cut benefits and increase costs for employees.

As states battle against budgetary problems, the unsustainability of current pension plans has become a major point of contention. We examine three hot spots.