Your English writing platform
Discover LudwigSuggestions(1)
Exact(2)
Over the years, the unfunded liability grew due to generous improvements in pension benefits, the use of an aggressive earnings assumption for the pension fund assets and litigation by plan members that mandated further payment obligations.
Because of these return shortfalls and the city not stepping up its annual contributions, the current funding ratio of the pension liability dropped from a level of 92% to 77%, and the unfunded liability grew from $284 million to $1.1 billion.
Similar(55)
Eventually the unfunded liability grows unmanageable.
Already, members of Mr. Corzine's inner circle have spoken privately about a "contingent liability" growing within the ranks of the Democratic chairmen.
The company has already spent about $1 billion to deal with the accident, and it faces billions of dollars in additional damage claims and government penalties, with the liability growing every day that the leak continues.
Each time yields fall, the gap between assets and liabilities grows, throwing many schemes into deficit.
It has been crippled by an estimated $1.9 billion in debt, including pension and labor liabilities, growing competition and the steep slide of Brazil's currency against the dollar.
In the new design, liabilities grow at a steady rate over the years, but often do not reach the heights of the defined-benefit plans they have replaced.
Also, until around the autumn of 2008, exchange-rate and other asset-price movements kept U.S. net foreign liabilities growing at a rate far below the cumulative U.S. current account deficit.
Meanwhile, the CalSTRS unfunded liabilities grow by $22m a day.The third problem is perhaps the most serious: a crisis of poverty and social immobility, particularly among Latinos (who will soon be the state's biggest ethnic group).
The accountants also propose changes to financial reporting, some of which would help in a situation like Enron's where vast liabilities grow in the shadows until their disclosure is lethal.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com