Pension plans and the corporations that sponsor them have been stretched as never before. In the past year, this has been illustrated as some of the largest plan sponsors-GM, Ford, and Verizon Communications-have transferred pension risk out of their plans. Ultimately, the penalty for getting a plan's investment strategy wrong can be terminal, proven by recent bankruptcy filings citing a pension fund as a main cause.
While the challenge is great, practical solutions do exist. In this handbook, Russell Investments' Jim Gannon, David Phillips and Bob Collie have set out to show plan sponsors how to:
-Navigate pension liabilities in the face of new Pension Protection Act (PPA) requirements and the Moving Ahead for Progress in the 21st Century Act (MAP-21),
-Manage pension expense on the income statement,
-Understand the impact of defined benefit (DB) plan closure or freezing,
-See how interest rate volatility impacts the plan, and
-Look ahead to future pension accounting potholes.
A bound and printed copy of the handbook can be requested at http://www.russell.com/pensionguide.
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