These expectations are calculated into the funding obligation. They may be off, they may be overshoots. The last couple of years life expectancy receded by a co

These expectations are calculated into the funding obligation. They may be off, they may be overshoots. The last couple of years life expectancy receded by a couple of years to what it was on average in 1996. https://www.health.harvard.edu/blog/why-life-expectancy-in-the-us-is-falling-202210202835 https://www.health.harvard.edu/blog/why-life-expectancy-in-t... At least for the next few years they're unlikely to pay less than is necessary per employee (and in fact pay much more than is necessary). In my job the employer contribution to the pension is about 14% (with the employee contribution about 7% - 9% depending on pension tier), which is making up for a period of time in the late 90s when the contribution was low single digits (IIRC). We're unlikely to see those underfundingly low contribution rates anytime soon. A pension is an annuity, and should be calculated like annuities when determining the benefit received on a per-employee basis.