A liability defined
As pension funds focus more on liabilities, pension indexes are emerging to help them meet their obligations. But just how useful are they? John Ferry reports
Accounting and regulatory changes across the globe are forcing defined benefit pension plan sponsors to face up to the reality of their obligations. President Bush's signing into law of the US Pension Protection Act of 2006 last August, for example, will ultimately require most sponsors to fully fund their pension plans by 2015. Meanwhile, in the first stage of a two-phase change to pension accounting rules that began last year, the Financial Accounting Standards Board (FASB) has required that
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