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Public pensions enjoy a 17.6% jump in total holdings Y/Y - but that's before likely-negative Q3...

  • Thursday, September 29, 2011, 6:25 PM ET
    Public pensions enjoy a 17.6% jump in total holdings Y/Y - but that's before likely-negative Q3 results come in. Pensions are drastically short on future obligations; estimates range from $700B to $3T. The 10 most underfunded corporate pensions, according to UBS: AKS, GT, OI, X, LMT, SVU, WHR, F, SHLD, RTN.
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    Underfunding could become an issue with 3rd quarter earnings. Future liabilities need to be discounted, by a rate of return that is related to prevailing interest rates. With interest rates as low as they are, companies may need to reduce their discount rate, which will increase reported liabilities.

    Looking toward the end of the year and updating guidance, this issue may make its way into 3rd quarter earnings conference calls.
    29 Sep 2011, 06:47 PM Reply Like
  •  
    Add Ct to the list with its highest per/cap bonding issue. The *&^%$ democrats promise higher benifits to the low lifes and illegals at the expense of the 40% normal folks and solidify their grip on power.
    29 Sep 2011, 08:18 PM Reply Like
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