"The proposed change [to an Actuarial Standard of Practice (ASOP)] would require actuaries to calculate ... a 'defeasement number' for public pension plans. [This] is basically what it would cost, in total, for an employer to close its plan and pay an insurance company to take care of its pension obligations ... [T]his is a meaningless number for almost all public plans, as they are neither closing their plans nor selling them to insurance companies."  MORE >>