Major countries may need to set aside half of the GDP to pay for the long-term costs of an aging population that will likely live three years longer apiece by 2050.

Facing a $45.2 billion unfunded liability to their pension fund, Michigan public teachers may have to pay higher pension contributions and delay their retirement.

Hundreds of active and retired teachers and other school employees crowded into a Senate hearing Wednesday to voice concerns that proposed changes to their retirement benefits would unfairly push more costs onto them and even drive some out of education.

The South Dakota Legislature acted legally when it trimmed the annual cost-of-living increase for retirees in the state's public pension plan during the recent economic crisis, a state judge ruled Wednesday.