Steve Larsen, director of the Center for Consumer Information and Insurance Oversight (CCIIO), Centers for Medicare & Medicaid Services (CMS), and Deputy Administrator at the U.S. Department of Health and Humand Services (HHS), submitted his letter of resignation Friday to Marilyn Tavenner, acting administrator of CMS, a week or two...

Raising retirement ages has become a global strategy for cutting pension costs and helping to guarantee benefits for more workers.

Republicans criticized the plan to balance a $15.7 billion deficit, saying it lacked public pension reform or a spending cap to control government costs.