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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (29911)11/26/2008 8:41:29 AM
From: Peter Dierks  Read Replies (1) of 71588
 
"But it takes corrupt, lying politicians and 'captive' regulators --- over many years --- to allow corporations to get away with vastly under-funding their pension plans.... "

This gets into accounting which is one area I have previously recognised as outside of your area of expertise. It however is relatively straight forward.

They used GAAP. Generally Accepted Accounting Procedures allows a company to use current assets in a plan to determine the amount required to add. When plan assets exceed the actuarially computed amount required then no additional contribution is required. Sustained bull markets increase corporate profitability by reducing pension expense.
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