An independent actuarial group has put its stamp of approval on the assumptions used by the U.S. Pension Benefit Guaranty Corp. in estimating a record $29.1 billion deficit in its single-employer insurance program.
At issue was the pension agency's use of a 3.28 percent interest rate in calculating its obligations. The deficit estimate, first published last September, was met by criticism calling that interest rate too low.
In response, the American Academy of Actuaries completed an analysis, releasing its findings last week that the agency's estimates were reasonable.
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