8/27/2013

The Pension Benefit Guaranty Corp.'s warning that its single-employer program faces a record $29.1 billion deficit has been confirmed by the American Academy of Actuaries. The academy's pension committee says a 3.28% discount rate used by the PBGC to calculate obligations is "a reasonable level between the higher corporate bond yields used by private pension plans and lower Treasury securities rates considered to be 'risk-free.' "

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