Joint risk of DB pension underfunding and sponsor termination: incorporating option-based projections and valuations into PIMS
When a private pension plan sponsor with an underfunded plan becomes insolvent, the difference between the value of the plan's assets and its termination liabilities represents a liability for the Pension Benefit Guaranty Corporation (PBGC). Hence, accurately modeling the joint statistical dist...
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| Format: | Article |
| Language: | en_US |
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Cambridge University Press
2015
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| Online Access: | http://hdl.handle.net/1721.1/98910 https://orcid.org/0000-0001-7540-936X |