Detroit might very well be only the first domino as the bankruptcy decision gives precedence to other government entities contemplating the same strategy.

Set aside for a moment the fight in Washington, D.C., over stopgap spending legislation.

The OECD says the average retirement ages will be 67 or more by mid-century. And even that age might not be enough to ensure a decent retirement.

Which method an actuary uses to determine a fund's discount rate can make the difference between a pension looking like it's in good shape. Or not.