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R20 : Liquidity Requirement of a DB plan
CFAI Text, V2, P365.
The statements under 2.1.3 Liquidity Requirement :
... For example, a pension fund paying $100M/month in benefits on an asset base of $15B....... the asset base would need to grow to 16.2B in order to meet the payout requirement without eroding the capital base.
Why an annual liquidity of 8% of plan assets is required ? Is it 0.67% (100M/15B) ? Why the asset base would need grow to 16.2B ?
Anyone can help ? |
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发表于 2011-7-13 16:54
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