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Will 2014 turn out to be a good year for pension stability? A good year for the growth of wealth through pensions? Maybe yes. Maybe no. In the end, it seems to come down to which lens you view the situation through. The economic lens or the political lens.

If a market observer were to take a look at the data that’s been coming out in the past weeks, he or she would have every reason to be optimistic. There’s been a slew of good news. One of our headlines read: Corporate pension plan funding ratio up 3 percent. Another proclaimed: Corporate pension plans’ funded status highest since ’07.

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