We haven't done the same kind of analysis, because the nature of the promise in a shared-risk plan is different.
As you may know, with the Ontario Teachers' Pension Plan, there is conditional indexation. Also, one of the virtues of these jointly governed plans—and I don't say this of Ontario teachers particularly; there are many other examples—is the fact that you've got the two sides at the table which facilitates conversations if things beyond what the plan design contemplated originally were to arise. Simply being there at the table promotes a good conversation about how to manage the plan, so that it appears reasonable in terms of its current cost, and also provides a good replacement income for the participants.
The type of analysis that we've done with the federal government's pension plan is the sort of analysis that you do when you have this unconditional promise to pay. If you look at other types of federal debt.... If you look at some of the litigation in the United States where there have been battles over who gets priority, the bond holder or the pensioner....
As a first approximation, it makes sense to say these are promises like every other senior debt obligation of the government. We should think of them in that capacity. There's as much risk attached to a federal government pension, or the possibility that you'll see it if you qualify, as there would be if you were a holder of the federal government's bonds. It makes sense to put them in the same mental category.