CHS' cash to adjusted debt of approximately 100% is low due to the significantly underfunded pension plan
that continues to be a credit concern.
Second, the expected shortfall constraint limits the value of expected deficits of the underfunded pension plan
. This specification has advantages of both identifying pension funds with the highest cost of insolvency (see Doff, 2008) and protecting the PGF's future viability.
A: Consider another underfunded pension plan
. In this case, the plan is sponsored by a corporate subsidiary being acquired in a transaction where buyer and seller are represented, respectively, by two large actuarial firms.
In addition the amendment allows for a smaller number of Carpenter common shares to be placed into an escrow account in connection with Latrobe's underfunded pension plan
and requires Carpenter to pay for certain additional transaction costs.
More transparency in and of itself won't really cause a company with a grossly underfunded pension plan
to go out of business.
"The reduction of the company's underfunded pension plan
and share repurchases will reduce Kellogg's liquidity position and increase debt levels, which were previously expected to remain stable through 2010," DBRS noted.
Consequently, an underfunded pension plan
was not only permissible, but was the target itself.
dumped its underfunded pension plan
on the Pension Benefit Guaranty Corp., the federal agency that insures pension benefits, just as the agency announced a hefty $23 billion record deficit.
United Airlines recently turned its underfunded pension plan
over to the Pension Benefit Guaranty Corp.
The brewery said lenders won't finance $4 million in much-needed plant improvements because of the underfunded pension plan
. The projects include replacing a 45-year-old keg system and $1.5 million to replace a 65-year-old boiler, which generates steam that powers equipment.
When the PBGC stepped in to administer the company's underfunded pension plan
, Clarke's benefits were slashed by $700.