Detroit doesn’t have any money. Rather, it doesn’t have enough money: It cannot both pay its debts and run the city. That’s why the city filed for bankruptcy some months back, over the outraged protests of pensioners who stand to lose a big chunk of their monthly checks.
Insurer says it will boost its 401(k) match from 50% to 100% of the first 4% employees defer.
House bill establishing national policy would exempt companies from tougher state, local rules.
Insurer disclosed in filing that it failed to pay monthly pension benefits to some retirees.
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