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Diane Publishing Books
Pension Plan Valuation: Views on Using Multiple Measures to Offer a More Complete Financial Picture
Charles Jeszeck (au)
Traditional defined benefit (DB) plans remain an essential source of retirement income, with tens of millions of Americans relying on them for retirement security. As of 2011, state and local government sector DB plans covered over 28 million participants, many of whom were not eligible for Social Security, and private sector DB plans covered more than 40 million Americans. DB plans use interest rates to šůždiscount,šůĚ or determine the current value, of estimated future benefits. Experts in the U.S. have disagreed on both the approach that should be taken by plans to determine a discount rate and the appropriate rate to be used. Different discount rates can create large differences in the valuation of a plan's obligations, which in turn can lead various stakeholders to draw different conclusions about a plan's health, the value of a plan's benefits, and the contributions required to fund them. This report addresses (1) the significance of differences in approaches used to determine discount rates among public and private plans; (2) purposes for measuring the value of a plan's future benefits and key considerations for determining discount rate policy; and (3) approaches selected countries have taken to choose discount rates. Tables and figures. This is a print on demand report.
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