Coming to a pension fund near you: ‘Smoothing’

By Denny Gulino

“With Congress allowing firms to delay pension contributions, and many firms saying they will use the windfall to buy back their own stock, a study published Wednesday may focus new attention on the practice.

The study, conducted by the the University of Massachusetts Center for Industrial Competitiveness and published Wednesday in the September Harvard Business Review, found S&P 500 firms have used 54% of the earnings since 2003 buying back their own stock.”…

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