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CHAPTER MEETING
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| Pension Liabilities: Critical Issues and Risks |
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Feb 24, 2003
5:30 PM |
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Cost : Free |
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| Meeting Venue |
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Subject: February 24th PRMIA meeting - "Pension Liabilities:
Critical Issues and Risks"
Join us for a lively presentation and discussion on "Pension
Liabilities: Critical Issues and Risks", 5:30 to 7:30 PM on
Monday, February 24th, 2003.
Pension Liabilities are casting a long shadow over US
companies and their senior management, especially given the
three year bear market in equities. Many US firms are
vulnerable. GM was downgraded in October due to a potential
$23 Billion pension fund deficit. CSFP estimates that
defined-benefit pension plans of S&P 500 companies may have
been under funded in the aggregate by as much as $242
billion at the end of 2002. And it's not just the US. Just
last week, S&P warned firms in
Europe over ratings. [See WSJ, 2/10/03, pgs A12-13]
Pension accounting is a critical issue today and greatly
misunderstood. Here's your opportunity to learn the
essentials and ask the experts.Our speakers will explain the
critical accounting rules, share preferred methods, common
valuation metrics and describe how this may impact equity
risk managers. They will also provide high-level estimates
of current and year-end pension funding levels and the
likely impact on earnings for 2003.
Seating is limited, and the meeting will be held at a
corporate site near Grand Central. [Location specifics will
be provided to members who RSVP attendance.]
Speakers include:
David Bianco
Executive Director and head of US Valuation and Accounting
UBS Warburg Equity Research
Bryan Boudreau
Executive Director
Morgan Stanley & Co.
Please arrive promptly. The event will feature a networking
opportunity from 5:30 to 6:15 PM And speakers will start at
6:15pm.
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