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American Academy of Actuaries' Letter to the Economist on Two Recent Pension Articles (PDF)
American Academy of ActuariesLink to more items from this source
Nov. 29, 2004

1 page. Excerpt: Two articles on pension accounting in your Oct. 28 edition may have left your readers with the wrong understanding of the role of actuaries in the U.S. In the article 'Time to End a Scandal,' it was written that, 'by the stroke of an actuary's pen a company can make heroic assumptions about the returns its pension assets will earn...' In the U.S., the assumptions used by a company for its financial statements are strictly the responsibility of company management.

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