On the investment trends, I'd say we see generally more and more plans moving into what we call liability-driven investing where there is a greater portion of the plan fund allocated to fixed income securities, bonds. In the marketplace, they rise and fall more in sync with the liabilities of the plan than would, say, stock investments, equity investments. That's certainly a trend we've seen for the last couple of decades, and accelerating in recent years.
The biggest problem with that sort of approach at the moment, implementing a de-risking approach like that, is that with interest rates as low as they are, there is sometimes a fear from some plan sponsors that moving it all, or a great deal of it, into bonds now, if rates were to rise, the value of those assets is going to fall. To the extent that there is upward pressure on bonds, that's a risk.
We hope interest rates will rise, but we've been hoping that for many years now. We keep thinking that it can't get any lower, and yet it does. It's very difficult to predict, of course.