02751nam a2200301 a 4500 vtls000059868 KUKTEM 20251125093230.0 120521t2012 njua g b 001 0 eng d 9781118106365 (hardback) 9781118106372 201209271230 fauzi 201205211608 irma UMP HD7091 .W37 2012 Waring, M. Barton Pension finance : putting the risks and costs of defined benefit plans back under your control / M. Barton Waring Hoboken, NJ : Wiley, c2012 xxxiv, 298 p. : ill. ; 24 cm. Wiley finance series ; 708 Includes bibliographical references (p. 287-292) and index "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"-- Provided by publisher Pensions management Pensions Finance Pension trusts Management Wiley finance series ; 708 Table of contents only http://www.loc.gov/catdir/enhancements/fy1210/2011018496-t.html 0 0 0 0 20000 20000 2019-09-04 232.91 0 HD7091 .W37 2012 0000066918 2019-09-04 00:00:00 1 232.91 2019-09-04 OPEN VIRTUA40 62684 62690 VTLSSORT0080*0200*0201*0400*0900*1000*2450*2600*3000*4900*5040*5200*6300*6500*6501*8300*8560*9992