A federal judge approved Detroit’s historic Chapter 9 bankruptcy, allowing the city to shave off $7 billion in liabilities from a total debt of $18 billion.

In 2005, Alaska froze the state’s traditional defined-benefit pension plan and created a self-managed 401(k)-style retirement plan for new public employees and teachers.

Michigan was a trailblazer when it comes to 401(k)-style reform plans for government workers. In 1997, Michigan froze the state employees’ defined-benefit pension plan and created a self-managed 401(k)-style retirement plan for new state workers. It was the first state in the nation to enact bold reforms like these. Michigan state employees who started working...

Illinois politicians have looted and mismanaged government-worker pensions for decades. Now the retirement security of government workers is at risk. It’s time to take politicians out of the retirement business and give workers control over their own retirement futures. Here are the top 10 facts you need to know about 401(k)-style retirement plans: 1) 401(k)s...

Contrary to popular belief, government-worker pensions are not untouchable, at least according to the federal courts. The federal judge in charge of the bankruptcy proceedings of Stockton, California, has ruled that city-worker pension debt must be treated like any other form of debt and could be adjusted under federal bankruptcy law. The ruling is a...