Archive - May 25, 2012

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Who bears the risk?

Who bears the risk?

Deep in the weeds of yesterday’s NY Times story on the Philadelphia Orchestra’s reorganization plan was this little tidbit: The reorganization plan would call for unfunded pension liabilities to be transferred to the federally backed Pension Benefit Guaranty Corporation, which has assumed responsibility for two of the orchestra‚Äôs defined-benefit pension plans. The corporation puts the[…]

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