Abstract
America is facing a pension crisis that threatens the solvency of our American corporations, cities, and states, and even the federal government. Much of it appears to be the result of poor equity performance for defined-benefit pension plans in the calendar years 2000 through 2002. The authors argue that the true cause of this crisis lies in the actuarial practices and accounting rules that apply to defined-benefit pension plans.
- © 2003 Pageant Media Ltd
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