Discounting Pension Liabilities: Funding versus Value

Jeffrey R. Brown & George Pennacchi
Published Date
Copyright 2016
DOI 10.1017/S1474747215000487
CONFERENCE HELD April 10-11, 2015
Book: The Impact of Reforms of State Retirement Plans
Book organizers: Robert L. Clark & Joseph P. Newhouse
PUBLISHER: Journal of Pension Economics and Finance, Vol. 15, issue 3 (Cambridge University Press)

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Discounting Pension Liabilities: Funding versus Value
- Working Paper
We argue that the appropriate discount rate for pension liabilities depends on the objective. In particular, if the...

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