Pension finance : putting the risks and costs of defined benefit plans back under your control

Resource Information

The work Pension finance : putting the risks and costs of defined benefit plans back under your control represents a distinct intellectual or artistic creation found in Sydney Jones Library, University of Liverpool. This resource is a combination of several types including: Work, Language Material, Books.

Label

Pension finance : putting the risks and costs of defined benefit plans back under your control

Title remainder

putting the risks and costs of defined benefit plans back under your control

Statement of responsibility

M. Barton Waring

Creator

• Waring, M. Barton
• Waring, M. Barton

Subject

• Pension trusts -- Management
• Pensions -- Finance
• Pensions management

Language

eng

Summary

"Defined benefit pension plans are in a severe crisis. With nearly a $4 trillion deficit in the U.S. alone, Canada, the UK, Japan, and Holland also suffer from unfunded liabilities. In short, the pension crisis is nearly global in proportion, and there is little likelihood that plan sponsors will be able to come up with the funds to repair the damage. One of the major problems behind the crisis is the approach: pension plans use actuarial science as the basis of assumptions but are subject to the laws of economic finance in terms of their returns. In short, there is a gap between the world presumed by actuaries who determine funding levels and the world as it come to be as determined by market performance and investment outcomes. Waring tackles this thorny issue head on. Well versed in both economic and actuarial science, he walks professionals through the differences and shows why plan sponsors need to focus on the economic account perspective to meaningfully measure present values. Complete coverage of credit risk and the discount rate to determine liability values is examined, contribution levels are then presented based on this revised approach to actuarial accounting. Pension plan sponsors and their employee representatives must face the economics - and adjust their accounting and actuarial view - to gain a true perspective on achieving sustainable benefit levels. Waring is one of the first investment professionals to tackle this controversial topic head on to present realistic solutions to potentially catastrophic problems looming in the very near term"--

Assigning source

Provided by publisher

Cataloging source

CaPaEBR

Dewey number

331.25/24

Illustrations

illustrations

Index

index present

LC call number

HD7091

LC item number

.W27 2011eb

Literary form

non fiction

Nature of contents

• standards specifications
• bibliography

Series statement

Wiley finance series

Series volume

708