PITTSBURGH — The city of Pittsburgh is down $124 million in its pension fund this year due to the stock market's sharp decline.

Pittsburgh Mayor Luke Ravenstahl said the fund lost 25 percent, dropping from $385 million at the start of 2008 to $261 million by the end of November.

The city needed to earn 10 percent to keep up with its monthly payout of $6.7 million.

PITTSBURGH — The University of Pittsburgh's chancellor and other top executives will accept a salary freeze, citing tough economic times.The decision to skip raises this year was recommended by Chancellor Mark Nordenberg. This is the first pay freeze for top Pitt executives since the 1995-96 school years.Pitt had budgeted for raises in the 4 percent range.