30 years too late and $20B short

[Kenny]

My brain is addled and my history escapes me, but if I remember a story that one of our more senior consultants told me some are suggesting a full circle return to pension plans from 30 or 40 years ago. At one point plan sponsors simply purchases deferred annuities reflecting the normal cost for the year (i.e. the benefit accrual during the year), until regulatory and accounting changes made it more advantageous to do it yourself.

I don't think I had a point, just wanted to share.