| 000 | 02751nam a2200301 a 4500 | ||
|---|---|---|---|
| 001 | vtls000059868 | ||
| 003 | KUKTEM | ||
| 005 | 20251125093230.0 | ||
| 008 | 120521t2012 njua g b 001 0 eng d | ||
| 020 | _a9781118106365 (hardback) | ||
| 020 | _a9781118106372 | ||
| 039 | 9 |
_a201209271230 _bfauzi _y201205211608 _zirma |
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| 040 | _aUMP | ||
| 090 | _aHD7091 .W37 2012 | ||
| 100 | 1 | _aWaring, M. Barton | |
| 245 | 1 | 0 |
_aPension finance : _bputting the risks and costs of defined benefit plans back under your control / _cM. Barton Waring |
| 260 |
_aHoboken, NJ : _bWiley, _cc2012 |
||
| 300 |
_axxxiv, 298 p. : _bill. ; _c24 cm. |
||
| 490 | 1 |
_aWiley finance series ; _v708 |
|
| 504 | _aIncludes bibliographical references (p. 287-292) and index | ||
| 520 | _a"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 | ||
| 630 | 0 | 0 | _aPensions management |
| 650 | 0 |
_aPensions _xFinance |
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| 650 | 0 |
_aPension trusts _xManagement |
|
| 830 | 0 |
_aWiley finance series ; _v708 |
|
| 856 | 4 | 1 |
_3Table of contents only _uhttp://www.loc.gov/catdir/enhancements/fy1210/2011018496-t.html |
| 999 |
_aVIRTUA40 _c62684 _d62690 |
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