M & K Employee Solutions, Inc. v. Trustees of IAM Nat. Pension · ¶48

So petitioners fall back on a policy argument. They contend that allowing plans to adopt actuarial assumptions after the measurement date will open the door to manipulation. Plans and their actuaries, petitioners worry, will retroactively select assumptions in order to increase withdrawing employers' liability. But their proposed rule—that withdrawal liability must be based on assumptions adopted before the measurement date—does nothing to address these concerns. Plans and actuaries could still select assumptions with an eye towards infating withdrawal liability before the measurement date given the significant discretion they enjoy in selecting assumptions.

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