Tracy Davidson

A proposal circulating in the legislature could result in a state takeover of Philadelphia’s municipal pension plan. Many municipalities have difficulty meeting pension obligations, so the state Public Employers Retirement Commission is recommending a new law that would move pensions with less than half the assets required to meet long-term obligations, into a state-run pension [...]

A quarter of employers have eliminated matching contributions to employee 401(k) retirement plans since September to save money. http://www.reuters.com/article/newsOne/idUSTRE55L0AZ20090622