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By lowering the allowance for doubtful accounts (as a percentage of receivables) in a worldwide tech slump, getting its tax rate down and changing pension return assumptions, IBM created $858 million, or 47 cents per diluted share, in aftertax profits.
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So why do their companies allow such predictions for pension returns to stand?
In making the case for international investments, Mr. Steel said pension returns in the city had been mediocre.
So if pension schemes were the only clients of hedge funds, and if they earned an excess return of two percentage points a year after fees, that would still boost overall pension returns by just 0.4 percentage points a year.
Since most pension fund managers have had at least 60percentt of their assets in stocks for a number of years, they have lately been assuming pension returns in the low double digits.
That wouldn't be good for pension returns – as Anne Simpson, a senior official at one of the world's biggest pension funds says: "There will be no place for CalPERS to invest in a 4 degree climate warming world".
These statistics can sound impressive, but in fact they provide little meaningful information about a trustee's stewardship of the fund, since pension returns generally follow the broader ups and downs of the stock market.
Buy-to-let was once was the preserve of professional landlords but plummeting pension returns, poor savings rates and stock market uncertainty have led many homeowners to see their house or flat as a safe asset, not just a place to live.
Assumptions about future pension returns may have to be lowered.
I also agree reasonable pension returns should be used.
School and university staff are angered at being asked to work longer and pay more for reduced pension returns.
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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