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Understating Liabilities

Created on September 6, 2016

Understating Liabilities


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Read the original report, "Government Intervention in Coal Mining Seven Decades Ago No Justification for Pension Bailout Today," by Rachel Greszler.

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By using higher interest rate assumptions, multiemployer plans can understate their liabilities and contribute less than necessary to fund promised benefits.

Source: U.S. Government Accountability Office, “Pension Plan Valuation: Views on Using Multiple Measures to Offer a More Complete Financial Picture,” September 2014, http://www.gao.gov/assets/670/666287.pdf (accessed August 16, 2016).

CHART 2 • BG 3151

Tags: coal-mining, bailout, United-Mine-Workers-of-America, UMWA, pension