Smokescreen or saviour?

Pension liabilities

The decision by the US Treasury in July to push for a significant overhaul incompany-sponsored defined benefit pension plans – including a change fromthe current 30-year US Treasury discount rate for liabilities to a rate basedon investment-grade corporate bond yields – should offer significant fundingrelief for corporate America. US companies have faced major problems in fundingsuch plans due to the combination of low interest rates and weak equity markets.This has led to US defined benefit

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