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Actuarial, examine then, the assumption changes are indicated by the toeal bars, ad then, the impact of contributions on your unfunded liability are the the red slivers. So basically, its to give a historical perspective, back in 2007, the plan actually had a surplus of about 1. 4 billion, and over the course of the last ten years, unfunded has increased by about 5 billion for a net unfunded liability as of 2017 of 3. 5 billion. Now there are three main fa factors for this increase. The first is the 2. 3 billion for assumption changes, and you can see that in 2010 and 2015 we had the dependenciy graphic experience studies, and those 2 eal bars wiare based basically, people are living longer, so youre paying benefits longer. It drives up your liabilities, and also, theyre retiring earlier than anticipated, you have shorter time to fund your benefits, and then, you also have to pay for them for a longer period of time. And then, the second driver is the investment losses, about 2 billion ....
Valuation. It just shows the reconciliation and recording rate and as bill said, there was aness decrease of 1. 5 in the contribution rate, but there are offsetting events if you will that happened that did have an impact on the rate. First of all, there was a market gain on your assets of 13. 5 , and that increased or decreased the contribution by about 1 of pay, but since you had those market returns, it triggered your supplemental cola that were effective july 1st, 2017, and that basically gave most retirees about an additional 1. 5 increase on their benefits, in addition to their basic cola, so that increased the contribution rate by about 1. 5 . The second set of offsetting events were the continued phase in of your 2015 assumption changes. If you will, when we did the demographic assumption study back in 2015, it was decided to phase in the impact of the unfunded over five years, so youre in the third year of that phase in, and that increased the contribution rate by about 6. 3 o ....
Liabilities and your assets. The sources of the unfunded are liability gains and losses which are the gray bars, and thats when people dont retire according to the assumptions, their salary increases or lower or higher than the assumptions, so you have whats called liability losses. The gold bars are your liability losses on your actuarial, examine then, the assumption changes are indicated by the toeal bars, ad then, the impact of contributions on your unfunded liability are the the red slivers. So basically, its to give a historical perspective, back in 2007, the plan actually had a surplus of about 1. 4 billion, and over the course of the last ten years, unfunded has increased by about 5 billion for a net unfunded liability as of 2017 of 3. 5 billion. Now there are three main fa factors for this increase. The first is the 2. 3 billion for assumption changes, and you can see that in 2010 and 2015 we had the dependenciy graphic experience studies, and those 2 eal bars wiare based basi ....
Equities, not much doing on the upside or downside. Oliver a little bit of a breather. It has been a fast run up the past couple of weeks. You mentioned the dow, so i will take industrials. , theare in the s p 500 industrial sub index is doing well. A few stocks really jumped out. Kansas city southern, general dynamics, delta airlines, lockheed martin, as well as going. They all closed above a percent. Good winners on a day where there was not much as joe pointed out, tons going on. We also want to look at the trends that has not gone away. That is a low day, even when you are flat. The vix keeps on plunging new lows, volatility absent from the market right now despite the geopolitical events happening all over the place. Joe also a very quiet day on the Government Bond run. Here is a five day chart of 10 year yields. You see them taking higher for several days. We are still incredibly low. A little bit of a decline, but even tha ....
Expanding in spain and italy in june. Nicolas sarkozy denies all wrongdoing as he takes to national tv to defend himself against allegations of corruption. And setting the record straight, volkswagen denies reports it will launch a takeover pick for paccar. Announcer youre watching Worldwide Exchange, bringing you Business News from around the globe. Well, a warm welcome again to thursdays Worldwide Exchange. You can see the heat map behind me. A bit of a difference to what weve seen for the last few mornings. A bid to the upside taking the stoxx europe 600 up around 0. 25 this morning. We had a relatively unchanged u. S. Market. They did manage to make new record highs for the dow and the s p yesterday. Adp coming in stronger than expected, the second highest since the beginning of 2011. It is a bit of a catch if ....