Retirement planning

As tens of millions of baby boomers enter their golden years, Bank of America Merrill Lynch has appointed its first gerontologist to help advisors address clients' age-related concerns.

Western Asset Management, a unit of Legg Mason, will pay more than $21 million to settle charges of defrauding clients, the SEC said.

Clients often worry about the IOUs in the trust fund, which, while literally true, is unnecessarily alarmist. In the investment world, we call them bonds and they're not so scary.

Japan must make its $1.19 trillion public pension fund independent of bureaucrats without delay so it can boost returns, the ruling Liberal Democratic Party said.

Michigan would pay $350 million over 20 years to reduce bankrupt Detroit’s pension liabilities under a deal struck by Governor Rick Snyder and lawmakers.

The biggest U.S. phone company said its fourth-quarter results will include a non-cash gain of about $7.6 billion to account for changes in its pension fund and retiree benefit plans.

You've probably heard it's best to wait until age 70 to file for Social Security benefits, if possible. But do you know when it's advisable to wait even longer?

Social Security has major long-term issues to solve, but until then it's still a critical source of retirement income for clients.

Newport Beach, California, where four ranking lifeguards earned more than the town’s $109,677 median household income in 2012, may partially disband its municipal ocean rescue to deal with rising pension costs.

The state, which shoulders one of the biggest pension burdens, is bucking the wave of local governments trimming the benefits.

The move is part of a shift of emphasis from life insurance "to a more well-rounded protection and retirement planning approach."

Joseph Dear, chief investment officer of California Public Employees’ Retirement System, the largest U.S. public pension plan, is taking leave to continue personal health treatments.

Commentary: Of the five economic proposals Jesse Myerson lists in Rolling Stone, one stands out, though not in a positive sense: that the U.S. start a sovereign wealth fund. It's a proposal that would prove problematic for capital markets, pose thorny conflicts of interest, and offer vast opportunities for cronyism and graft.

The big Dutch financial-services company will post a 1.2 billion-euro ($1.6 billion) charge after agreeing to end some payment obligations to its pension fund in the Netherlands.

Quick question: Do you know how many programs operate under the Social Security umbrella? Do you know the differences? If not, keep reading.

Concern about rate policy shifts is the factor most likely to drive changes to client retirement income portfolios in 2014, according to a new survey from GDC Research and Practical Perspectives.

Boeing Co.’s long-term production plans for its new 777X aircraft and three other jets are at stake in a showdown with its largest union that pits worker pensions against the planemaker’s appetite for risk.

The Illinois State Employees Association Retirees sued state officials and retirement systems to block a plan that reduces pension benefits to fix a $100 billion shortfall.

Companies that stuck by their defined-benefit pension plans through the difficult years appear unlikely to seek to disband the benefit. One exception, however, is Boeing, which wants to convert its pension plan to a 401(k)-style retirement program.

Most working-age people in the U.S. and worldwide who expect an inheritance think it will fund all or part of their retirement.