Common wisdom might suggest otherwise, but a properly managed defined contribution plans can be as cost-effective as defined benefit pension plans, according to a study by the TIAA-CREF Institute.

Now that Oregon lawmakers have voted to cut retirement benefits for government workers, the battle moves from the Capitol to the courthouse.

Chicago has been stalling on pension contributions for many years, a problem fueled in part by the economic downturn, and no viable solutions seem anywhere near.

A key Republican lawmaker proposed borrowing $9 billion Monday as part of a new approach to rein in the soaring costs of pensions for nearly 380,000 Pennsylvania teachers and state employees.