"MP-2014 moves away from simpler, less sophisticated improvement scales that change infrequently in favor of: [1] More complex mortality improvement scales that depend heavily on recent data [and] [2] Frequent adjustments to recent data. The combination of these two factors greatly increases the uncertainty of mortality's impact on plan liabilities from year to year. Now sponsors already contending with investment and interest rate volatility are faced with another challenge, one that can be neither avoided nor hedged -- mortality volatility!"  MORE >>