bpdulog

Can't get any nitpickier than this:

I mean that the current marked-to-market value of the pension assets is less than the current marked-to-market value of the pension liabilities.
(Level III Volume 2 Behavioral Finance, Individual Investors, and Institutional Investors , 4th Edition. Pearson Learning Solutions 470).
<vbk:9780558655952#page(470)>

There's no official definition, but that is how Mr. Merton describes it.

NO EXCUSES