Pension News

As struggling Indianapolis drugmaker Eli Lilly and Co. slashes thousands of jobs and trims benefits for employees, one top executive is getting a handsome retirement payout.

There are 17.6 million Canadians in the workforce today, but only 4.5 million have a defined benefit pension plan and half of those are in the public sector.

UAL Corp., US Airways Group Inc., and eight other companies paid executives $350 million in the five years before the United States was forced to take over their underfunded employee pension plans, a government report said.

The Catholic Diocese of Wilmington is obligated to pay retirement benefits to six priests who are confirmed pedophiles, church officials argued in a bankruptcy court filing seeking permission to keep making the payments.

The three major credit ratings agencies gave mortgage-backed securities unjustifiably high ratings in return for lucrative fees, losing at least $457 million for five Ohio public employee pension and retirement funds, the state's attorney general alleged in a lawsuit filed Friday.

Some of West Virginia's largest cities can soon freeze and gradually pay down their daunting pension funding shortfalls, after the House of Delegates sent Gov.

Fidelity Investments said the average balance on customersa 401 retirement accounts has returned to September 2008 levels on contributions and third- quarter investment gains.

Gov. C.L. "Butch" Otter's budget chief says he's moonlighting as state human resources administrator to help spare one job in his office from elimination.

Annis Fuller thought she had everything in place to retire this past June. But when the Abbott Laboratories accountant and her husband, who manages construction projects for the company, met with their financial planner last December, the news wasn't good.

Ten large U.S. companies paid senior executives a total of $350 million in the few years prior to dropping traditional pension plans for employees, a Congressional watchdog said Thursday.

I was at dinner with some friends and the conversation turned to the topic of undiscovered investment opportunities.

A new trust fund being proposed by the Communications, Energy & Paperworkers Union of Canada and AbitibiBowater - to replace the existing pension fund pool for mill workers and help take some of the strain off the company as it undergoes restructuring under bankruptcy protection - is drawing mixed reactions here.

Share + Nov 18, 2009 4:09 pm US/Central SPRINGFIELD, Ill. Illinois Supreme Court justices heard arguments on why ex-governor George Ryan should receive a partial state pension of $60,000. The state General Assembly Retirement System stripped Ryan of the $197,037 pension he was drawing annually up until his 2006 conviction of racketeering, ...

Already, taxpayers are giving $1.3 million a year to 62 retirees of three Trenton organizations: the League of Municipalities, the School Boards Association and the Association of Counties, records show.

The head of the Caisse de depot says Canada's largest pension fund manager plans a change in strategy to ensure long term returns while also helping Quebec companies to better compete around the world.

A group representing hundreds of West Virginia police officers sees the value in the special session legislation that aims to help ailing municipal pensions, one of its officials said Tuesday.

Retired police Capt. John J. Ryan has appealed to the Rhode Island Supreme Court a recent legal decision that would make it more difficult for him to save his municipal pension.

There's an ongoing tension between those who work for the people - government employees - and those whom the government works for - taxpayers.

Gov. Chris Gregoire rejected new Republican calls for a special legislative session in early December to deal with the growing budget shortfall, despite her prediction it might hit $2.5 billion after Thursday's revenue forecast.

A lot of nonprofits, including Girl Scouts, are facing huge increases in pension contributions in coming years, a combination of two factors - the market crash and the 2006 Pension Protection Act, which, among other things, shortened the time to "catch up" underfunded pensions to fully funded status.