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Some believed the Universal, Secure and Adaptable (USA) Retirement Funds Act of 2014 was the right solution while others felt its approach was too complicated.

We found that in all 10 states, the total annual cost of corporate subsidies, tax breaks and loopholes exceeds the total current annual pension costs for the main public pension plans administered by the states, a report stated.

The 45-year-old Democrat, a former equities analyst, this month appointed a commission to evaluate how investments are made for North Carolinas $83 billion public pension, the nations 10th largest.

Stringer, a Democrat who took office Jan. 1, also proposed bolstering financial-disclosure rules for employees who advise the funds.

Oregon Treasurer Ted Wheeler is being honored for his efforts to increase access to low-cost, high-quality retirement plans in his state and encourage people in Oregon to save more for retirement.

Any plan must include higher contributions from teachers as well as more from schools and taxpayers, said Assembly Speaker John Perez, a Los Angeles Democrat.

Democrats can speak hopefully of a new populist moment centered on proposals such as a higher minimum wage, but this is the third or fourth time that the president has attempted to launch a new populist, progressive moment.

The unions, which include the biggest organizations representing state workers, called legislation signed into law last month by Democratic Governor Pat Quinn to reduce the shortfall theft, according to a statement.