Per an earlier article in MarketWatch:

The Society of American Actuaries and another professional group, the American Academy of Actuaries, earlier this month had said they wouldn’t publish the paper, which was being written by a joint task force. That decision, which also said the authors couldn’t publish it under their own names, had unleashed a storm of criticism. The paper argues that is the wrong approach. Instead, liabilities should be discounted using default-free rates, such as those offered by Treasurys. The bottom line is that the unfunded liabilities of public pension plans are about $6 trillion, rather than $1.5 trillion, according to two of the paper’s authors.

Somebody now published it, linked here: https://gofile.io/?c=dwFyen#32781

It’s pretty wonkish. The bottom line is that default-free discount rates should be used. Those would be far higher than are typically used and would spike pension liabilities enormously.

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J.A. Herzrent
4 years ago

Link doesn’t work

J.A. Herzrent
4 years ago
Reply to  Mark Glennon

error message I get is : Forbidden You don’t have permission to access /download/dwFyen/94e4dfcdd63a715ccf6bfa8603258908/PubPrin.pdf on this server. Perhaps the problem at my end but there are other things I can read to maintain high anxiety level