A proposed ballot measure that would allow California cities to change the retirement benefits of current government employees drew a quick, sharp response from CalPERS, the states retirement system.

Congress passed and sent a waiting President Barack Obama legislation late Wednesday night to avoid a threatened national default and end the 16-day partial government shutdown, the culmination of an epic political drama that placed the U.S. economy at risk.

A last-minute agreement to keep the U.S. from defaulting on its debt and reopen the government sent the stock market soaring Wednesday, lifting the Standard & Poor's 500 index close to a record high.

Dont think millennials want or need benefits? Think again.