The phony definition of the riskless rate of return results in grossly wrong allocation of pension plan assets on which Wall Street firm and banks make exhorbitant fees. If the putative beneficiaries ever get the benefits and pensions they have been promised and which they have earned, it will be a happy accidet. Meanwhile the Wall Street firms get their fees NOW. Estimated early fees on nearly $10 trillion of US pension plan assets is about $100 billion per year. Less