Senate highway bill contains ‘smoothing’ pension gimmick

From Angela Malik's article on The Daily Caller:

Marc Scribner, a transportation analyst at the Competitive Enterprise Institute, explained that smoothing “in theory reduces expenditures necessary to pay down these losses in the short-run, [but] it exposes the government to significant additional risk over the medium- and long-runs.”

[...]

Scribner noted the pension provision favors large labor unions because it gives them an opportunity to appear to be fixing unfunded pension programs without actually doing so.