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Does a discount rate rule ensure a pension plan can pay promised benefits without excessive asset accumulation?
Download2017-12-18
Landon, Stuart, Smith, Constance E.
The choice of discount rate makes a substantial difference to the magnitude of the assets required to ensure a pension plan is fully funded. Finance theory suggests that the discount rate should equal the default-free rate, but pension plan administrators argue for a rate equal to the long run...
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