"To provide the desired degree of assurance, a pension funding policy would need to incorporate the following principles and objectives: [1] Every government employer that offers defined benefit pensions should obtain no less than biennially an actuarially determined contribution (ADC) to serve as the basis for its contributions; [2] The ADC should be calculated in a manner that fully funds the long-term costs of promised benefits, while balancing the goals of 1) keeping contributions relatively stable and 2) equitably allocating the costs over the employees' period of active service; [3] Every government employer that offers defined benefit pensions should make a commitment to fund the full amount of the ADC each period ...; [4] Every government employer that offers defined benefit pensions should demonstrate accountability and transparency by communicating all of the information necessary for assessing the government's progress toward meeting its pension funding objectives."  MORE >>