The Department of Financial Institutions has released the following investor alert regarding Pension Advance scams from the North American Securities Administrators Association:

A pension is a type of retirement plan, usually tax-exempt, in which an employee makes contributions toward a pool of funds set aside for an employee’s future benefit. The pool of funds is invested on the employee’s behalf, allowing the employee to receive benefits upon retirement.

• Are you earning a pension from your employer and need cash fast?

• Are you an investor looking for new ways to grow your in...