Pensions | featured news

... According to a report by the Wall Street Journal , Hostess’ CEO, Gregory Rayburn, essentially admitted that his company stole employee pension money and put it toward CEO and senior executive pay (aka “operations”). While this isn't technically illegal, it's another sleazy theft by Hostess executives - who've paid themselves handsomely while running their company into the ground. Just last month, a judge agreed to let Hostess executives suck another $1.8 million out of the bankrupt company to pay bonuses to CEOs.

The largest 100 public pension funds have around $1.2 trillion of unfunded liabilities, about $300 billion above the nearly $900 billion they reported themselves, according to a new actuarial study to be released on Monday.

Former Penn State assistant football coach Jerry Sandusky, convicted of 45 counts of child sexual abuse, could still profit from his public pension. Sandusky stands to collect $58,898 each year, according to PennLive.com, because the crimes he committed are not included on the list of 22 that would force him to give up his benefits.

A radical plan to slash public employee pension benefits gets voted on by the residents of Silicon Valley's San Jose on Tuesday - a decision that could set an important precedent for many other cities, not only in California but across the nation.

Public employees in the United States are striking back at what they see as attacks on their pensions. Recently, U.S. states have begun making changes both small and large to the benefits they pay retirees in the hopes of closing a shortfall totaling at least $600 billion.

Rep. David Wu could be eligible for pension and benefits worth more than $1 million in his lifetime, according to an analysis by the National ...

California's highest-paid public pensioner will continue receiving his roughly $500,000 annual retirement despite his guilty plea Thursday to misusing public funds.

Treasury Secretary Timothy Geithner said Monday that he will immediately halt investments in two big government pension plans so the government can continue to borrow money....

Two more public employee unions -- representing doctors, dentists and engineers -- have agreed to tentative contracts with Gov. Arnold Schwarzenegger, expanding to six the number of labor unions the governor has convinced to accept pay cuts and pension rollbacks.

Steven Rattner, who has faced recent questions about his firm’s role in a pension scandal, will be succeeded by Ron Bloom.