RT Journal Article
SR Electronic
T1 Modernizing the Defined-Benefit Pension System
JF The Journal of Portfolio Management
FD Institutional Investor Journals
SP 73
OP 82
DO 10.3905/jpm.2005.470580
VO 31
IS 2
A1 John M. Mulvey
A1 Frank J. Fabozzi
A1 William R. Pauling
A1 Koray D. Simsek
A1 Zhuojuan Zhang
YR 2005
UL https://pm-research.com/content/31/2/73.abstract
AB The defined–benefit pension system may not survive into the future absent changes in the current regulatory environment. A risk–based and anticipatory approach to evaluating pension trusts is proposed as a way to diminish the probability that large and insolvent companies will transfer their pension trusts to the Pension Benefit Guaranty Corporation. Because current difficulties are concentrated in a few industries, there will be severe problems in the future if the healthiest companies reduce their exposure to defined–benefit pensions.