Pension rate estimates are important because they provide information to the market, and because they are useful in estimating future cash ßows or for other analytical purposes. This is especially true now, because the economic environment has deteriorated to a point that many investors...

Pension rate estimates are important because they provide information to the market, and because they are useful in estimating future cash ßows or for other analytical purposes. This is especially true now, because the economic environment has deteriorated to a point that many investors...

This study provides evidence that, when “hard” freezing their defined benefit pension plans, employers select downward biased accounting assumptions to exaggerate the economic burden of their benefit plans. Downward biased expected rates of return and discount rates allow managers to...

This study provides evidence that, when "hard" freezing their defined benefit pension plans, employers select downward biased accounting assumptions to exaggerate the economic burden of their benefit plans. Downward biased expected rates of return and discount rates allow managers to increase...