TY - JOUR T1 - U.S. Corporate DB Pension Plans—<em>Today’s Challenges</em> JF - Special Issues SP - 54 LP - 66 VL - 2016 IS - 1 AU - Martin L. Leibowitz AU - Antti Ilmanen Y1 - 2016/09/21 UR - https://pm-research.com/content/2016/1/54.abstract N2 - This article analyzes the multiple considerations facing a corporate sponsor making decisions about its defined-benefit pension plan. First, the authors examine why so many plans have closed and/or shifted to more conservative asset/liability allocations. Second, they discuss the challenging balancing act for underfunded plans when making their asset class allocation, duration-matching, and contribution choices, as well as the risks and costs associated with each choice. ER -