US - Illinois's Teachers Retirement System may sell $3bn of investments to pay for benefits this year because the state can't make its contributions to the fund, a spokesman said.

GLOBAL - Just 16% of multinational companies feel their existing benefit plan governance structures are sufficient to meet current and anticipated future needs, research by Mercer shows.

CANADA - Ontario is to toughen pension funding requirements for companies and will strengthen its guarantee fund as part of a raft of reforms aimed at bolstering its pensions system.

US - The US Postal Service (USPS) could use at least $5.5bn in pension fund overpayments to address its financial concerns, according to a new audit.

CZECH REPUBLIC - Czech Finance Minister Miroslav Kalousek wants changes to the pension program, aimed at reducing the fiscal deficit and improving the country's credit rating, to take effect by 2012.

ASIA - Investors are underestimating the opportunities for Asian local currency bond markets, Legg Mason affiliate Western Asset Management believes.

AUSTRALIA - Australia's median growth superannuation fund returned 2.2% in July on the back strong equity performance over the month.

NEW ZEALAND - The New Zealand Superannuation Fund increased its global equities exposure from 45.1% to 63.1% over the month to July 31 and reported pre-tax returns of 4.76%.

US - The Pension Benefit Guaranty Corporation (PBGC) expects to pay out almost five times as much to insolvent multi-employer plans than it has done over the past 30 years.

CANADA - Caisse de Depot et Placement du Quebec, Canada's biggest pension-fund manager, posted a 2.3% return in the first half of this year, bolstered by investments in private equity and infrastructure.