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Text of ERIC Letter to FASB Over Cash Balance Discount Rates
The ERISA Industry Committee [ERIC] 
May 27, 2003
Excerpt: The issue relates to the discount rate used to value the liabilities under cash balance plans that credit participants' accounts with a market-related interest rate. We understand that, at the end of the EITF's May 15th meeting, a member of the FASB staff commented that, in the case of a cash balance plan that credits participants' cash balance accounts with a market-related interest rate, the plan's liabilities must be valued using that same interest rate.
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