arbiter
JournalsAccount

The Tax Cuts and Jobs Act (2017) Has Long-Term Effects on Corporate Pension Risk

Divya Anantharaman et al.

Journal of Accounting Auditing and Finance2026https://doi.org/10.1177/0148558x251411606article
AJG 3ABDC A
Weight
0.50

Abstract

The Tax Cut and Jobs Act of 2017 generated a spurt in tax-deductible contributions to corporate defined benefit pension plans. We examine how pension risk altered as a result. We document that sponsors making large voluntary contributions before lower tax rates take effect also (i) make economically significant shifts in asset allocation toward safer investments and (ii) transfer obligations to insurance companies or beneficiaries. We identify the TCJA as a driver of pension derisking, with long-term implications for sponsors, employees, and the PBGC; and particularly of the propensity to transfer pensions to insurance companies or beneficiaries, permanently changing the regulatory status and guaranties associated with them.

Open via your library →

Cite this paper

https://doi.org/https://doi.org/10.1177/0148558x251411606

Or copy a formatted citation

@article{divya2026,
  title        = {{The Tax Cuts and Jobs Act (2017) Has Long-Term Effects on Corporate Pension Risk}},
  author       = {Divya Anantharaman et al.},
  journal      = {Journal of Accounting Auditing and Finance},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1177/0148558x251411606},
}

Paste directly into BibTeX, Zotero, or your reference manager.

Flag this paper

The Tax Cuts and Jobs Act (2017) Has Long-Term Effects on Corporate Pension Risk

Flags are reviewed by the Arbiter methodology team within 5 business days.

Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.