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What's Whipsaw? Why Is It a Problem? (PDF)
American Academy of Actuaries Link to more items from this source
Mar. 13, 2003

February 2003 Issue Brief. Excerpt: Employees, who generally think cash balance plans are like a 401(k), typically believe they should get their account balance in cash, and generally, that is what they get. However, if the employer is generous and specifies an investment return greater than the 30-year Treasury rate, some people claim employees should get more than their account balance. They determine the amount using the complex whipsaw calculation.

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