Retirement | featured news

A police chief under fire for his handling of anti-Latino abuse allegations that led to the arrests of four officers last week is retiring from office, the mayor said Monday, describing his departure as a "selfless act" intended to help the town heal.

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.

College students clash with administrators over steeply rising tuition. Public employees shut down statehouses amid cuts to pay and retirement benefits. Teachers and social welfare advocates protest budget cuts. Lawmakers struggle to cope with sharp declines in tax revenue.

Edward C. Forst, co-head of asset management, is retiring — the highest-ranking executive to leave the firm in recent months.

Democratic Rep. Barney Frank of Massachusetts does not intend to seek re-election in 2012, his office said Monday, closing out a career of more than three decades in Congress capped by last year's passage of legislation imposing new regulations on Wall Street.

Tony La Russa, the manager of the St. Louis Cardinals, announced Monday he is retiring after 33 seasons as a manager in professional baseball. The Cardinals capped an improbable comeback last week by defeating the Texas Rangers to win the World Series.

The federal government pays out millions of dollars to dead people each year — including deceased retired federal workers, according to a new report.

When it comes to retirement, most Americans doubt they've saved or invested enough to retire comfortably, let alone reach that million-dollar milestone, according to a new AP-CNBC poll.

Randy Moss is calling it a career after 13 seasons in the NFL as one of the most dynamic and polarizing players the league has ever seen. Moss's agent, Joel Segal, said Monday that the receiver was considering offers from several teams, but made the decision to retire. Segal declined to comment specifically on the offers, instead saying his client felt the time was right to step away.

NBA star Yao Ming announced his retirement during a news conference in China on Wednesday. "I need to make a personal decision," Yao said. "I am ending my basketball career. I am very grateful. I like to thank my family members and my parents. And the Houston Rockets."