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American Academy of Actuaries' Letter to the Wall Street Journal on Recent Pension Article (PDF)
American Academy of Actuaries 
Nov. 29, 2004 1 page. Excerpt: The article 'Tracking the Numbers,' by Ellen Schultz on Nov. 4, could have left your readers with an incorrect understanding of the cash balance plan pension plan being discussed. When Bank of America employees were given the option to transfer money from their 401(k) plans to the bank's new cash balance retirement plan, their principal became guaranteed. While most stock investors lost money over the past few years, Bank of America employees lost none of the principal in[.] MORE >> |
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