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The government-chartered company that insures the pensions of one in seven Americans said Friday that its deficit this year nearly doubled to $22 billion.
A panel of Kansas legislators meets next week to address the state pension system's long-term funding problems.
Higher returns alone likely aren't enough to save Montana's beleaguered pension system, the state's investment director said.
The investment portfolio for the Hawaii Employees' Retirement System continues to soar.
Montana's state pensions systems reeling from big losses in the stock market face a projected shortfall of more than $2 billion three decades from now.
A former benefits manager for a union local in St. Louis County has been sentenced to 27 months in prison for embezzling $341,000 from the union's benefit plans.
New York Comptroller Thomas DiNapoli must return $500,000 in public pension benefits and credits to private lawyers who received them for doing part-time jobs, according to recent lower court decisions.
Attorney General Andrew Cuomo proposed Thursday replacing the elected state comptroller as the sole trustee of New York's $116 billion public employee pension fund, which serves 1 million members and pays out $7 billion a year.
A political power broker and an investment executive who advised government officials in several states have pleaded guilty to securities fraud in connection with a "pay-to-play" scandal at New York's public pension fund.
Philadelphia Eagles quarterback Michael Vick has agreed to repay at least $416,000 that he is accused of illegally withdrawing from a pension plan.
Bank of America Corp. executives improperly concealed billions of dollars in losses and billions in bonuses paid by Merrill Lynch before a shareholder vote on their proposed merger, Ohio's attorney general argued in a class-action securities lawsuit he described as among the largest in history.
Four more private equity firms involved in a corruption scandal at New York's public pension fund have agreed to pay restitution and implement reforms, state Attorney General Andrew Cuomo announced Thursday.
Armored car company Brink's Co. said Thursday it contributed $150 million to its underfunded U.S. pension plan.
When Kathy Corrigan, 64, was let go last September from her job with a trade association, she already had begun to think about retiring after a 25-year career as a meeting planner.
The Pacific Corporate Group, a company that helps big government pension funds decide how to invest their money, has agreed to pay $2 million to extract itself from a corruption investigation in New York.
A Canadian pension fund is sweetening its bid for Macquarie Communications Infrastructure Group, a communications network company with operations in Australia and the United Kingdom. The Australian company's independent directors are supporting the deal.
The private equity firm Riverstone Holdings has agreed to pay $30 million and abide by a new code of conduct to resolve its role in a corruption scandal at New York's giant government pension fund.
The former director of the government's pension agency invoked the Fifth Amendment on Wednesday when senators probed allegations that he had improper contacts with Wall Street firms while running the operation, which insures the pensions of one in seven Americans.
The executive director of the NFL coaches association is upset with the way the league has handled a change in assistant coaches' leaguewide pension plan.
The former director of the Pension Benefit Guaranty Corp. had inappropriate contacts with Wall Street firms chosen to give investment advice to the agency, which insures the retirement benefits of 44 million Americans, according to a government watchdog report released Thursday.
A government watchdog claims that the former director of the Pension Benefit Guaranty Corp. had inappropriate contacts with Wall Street contractors being chosen to give investment advice to the agency, which insures the retirement benefits of 44 million Americans.
City Comptroller William Thompson says the city's pension funds should adopt state Attorney General Andrew Cuomo's anti-corruption principles.
A California businessman implicated in a corruption scandal at New York's public pension fund secretly pleaded guilty to a misdemeanor securities fraud charge two months ago, authorities revealed Tuesday.
Investigators probing the role that lobbyists known as "placement agents" played in arranging state pension fund investments have subpoenaed a number of politically connected New Yorkers who quietly picked up big paychecks for doing such work.
An influence-peddling scandal that began in New York, but is now expanding to other states, broadened Thursday as authorities brought criminal charges against a Dallas executive whose firm advises some of the country's biggest public pension funds.
Crooked cop still gets his pension -- from prison He's one of the most crooked cops in Chicago history. William Hanhardt helped run a ring of mobbed-up jewel thieves -- while he was chief of detectives of the Chicago Police Department.
Employers Cutting back upon separationSooner or later the Unions will find opportunity for a re-birth mainly as a push back to current trends. The adversarial policies in the corporate culture is inviting this remedy. Anyhow, the inevitable is on the horizon.
American Express Exec's Thomas Schick $1.8 Million Sale How do you still feel about American Express? Feel like your fees just bought someone a big house or a few luxury cars?
Pension cuts often miss top executives More companies are sending chills down employees' spines by freezing their pensions, but that cold front isn't necessarily hitting the executive suites.
VA nears 1 million unprocessed claimsWASHINGTON— The Veterans Affairs Department is facing close to 1 million unprocessed claims, appeals and administrative issues.
Article - WSJ.comFund Manager try to use their influence to block sale of Chrysler
Every HR Professional's Nightmare: Anxiety' hitting British workers' Someone chuckled when I said, "I have felt like 2.5 million since I have been away from that toxic cesspool. Stress kills."
State Worker: How pay, pensions stack upThink all state workers retire into luxury? The average monthly payout by the California Public Employees' Retirement System to retirees is about $2,300, roughly $27,600 per year, according to the pension fund's most recent statistics.
Credit Cards: An Exchange of Messages from ReadersFelix Salmon takes an interesting look into credit cards and interacts with his audience. It explains the dynamics of the higher-end consumer that pays their bill in full monthly and why the credit card markets will be a matter of convenience as opposed to necessity.
Cops, firefighters and teachers around the country are at it again. I swear, if they don't stop whining about their pension shortfalls I'm going to cry. One policeman in Omaha will retire with a pension of over $84,000 a year.
SEC Issues New Trading Rules for EmployeesSEC Chairwoman Mary Schapiro unveiled new rules that would prohibit employees from trading stocks of companies that are under investigation by the agency. The rule pertains even if the SEC employees are not personally involved in the investigation.
Scottsdale AZ Man Rearrested In $80 Million Ponzi SchemeYou can run... but you cannot hide. This is almost comical. Original arrest was on April 15th, proving Danny isn't so wise after federal authorities deepened the multi-state investigation.
How Not to Lose Your AmEx Black Card: Staying a Step Ahead of OutplacementA witty article on the uber-mystique of a credit card product called the Centurion Card tangled with the current state of the economy.
Kevin Johnson - Businessman Stung by AmEx Now Helps Young ConsumersThere was a lot of video and written press about this successful Atlanta businessman at the time of his tangle with American Express. Now he's investing his time wisely with consumer advocacy and helping the youth understand financial literacy.
American Express CEO Whines: Card Law May Reduce CreditChenault said "a new law that would impose sweeping limits on credit card issuers will likely hurt his company and reduce the flow of credit to consumers."
AZ Republican Kyl Voted Against Credit Card ReformKyl was onsite at American Express a few years ago and horrified the mixed-culture crowd about certain nationalities being terrorists. This geezer has GOT to go. He's a nutbag.
State pension rewards at private sector's riskRecent attempts at reforming California's dysfunctional, deficit-ridden budget, including the initiatives on Tuesdays' ballot, tried to achieve the impossible: reforming a dysfunctional budget process without touching any sacred cows.
Buffett's Berkshire Scales Back Stock Purchases as Cash Erodes Even The Oracle is trimming back on purchases these days. Although he and his firm is in a league of their own, it was noted that some of the largest equity holdings in Berkshire's U.S. portfolio have plunged in the past year. American Express Co.
American Express Chops Another 4,000 JobsKen could have taken a pay cut and saved a few heads. Rather, it will add to the unemployment figures if they're not in positions qualifying for severance.
Former American Express Financial Adviser Sentenced for FraudSpin backwards to the American Express unit spin-offs of their Financial Advisors (AEFA) unit (*1) announced February 1, 2005.
Indiana Teachers Health & Disability Fund Under FBI & Securities Division InvestigationThere likely will not be any argument to my statement that our educators are woefully underpaid. Now enter into the picture an investment broker who was hired by the Indiana state teachers union insurance fund.
Swiss UBS Losing Key Employees to CompetitionCould it possibly be linked to the recent probes into US offshore accounts? I think so. The U.S. Attorney's Office said Steven Michael Rubinstein, 55, of Boca Raton appeared in U.S. District Court in Fort Lauderdale on charges of filing a false tax return last month.
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