Abstract

A number of recent events have led corporate sponsors of defined benefit pension plans to search for improved financial planning techniques. These events include the trend to expand benefits, depressed equity markets, high rates of inflation and the passage of the Employee Retirement Income Security Act of 1974 (ERISA) which has often resulted in expanded vested benefits, higher pension contributions, and increased fiduciary responsibility. In many cases pension contributions have become a significant burden on corporate financial resources.

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