TITLE

Benchmark proposal earns harsh criticism

AUTHOR(S)
Anand, Vineeta
PUB. DATE
July 2003
SOURCE
Pensions & Investments;7/21/2003, Vol. 31 Issue 15, p3
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Some academics, financial economists and actuaries are against U.S. President George W. Bush administration's proposal to replace the Department of Treasury with an index of high-grade corporate bonds as the benchmark for calculating pension liabilities. The original proposal, the permanent use of a long-term corporate bond index, was opposed by the Treasury Department. Zvi Bodie, the professor of finance in Boston University's management school and a managing director of New York-based Integrated Finance Ltd., proposes requiring companies that invest their pension assets in stocks to pay higher "risk-based" insurance premiums, along the lines of capital adequacy standards used by banking regulators.
ACCESSION #
10422985

 

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