Because Serota rejects Martire's position, he posed a question to shed light on the issue. ‘I asked Mr. Martire if he was aware that if Illinois were a private corporation subject to the requirements of corporate accounting (rather than the more lax public accounting requirements), the pension plans would be required to use a discount rate close to 4 percent rather than the 6.75 percent to 7.25 percent that they are using currently. He replied that yes, he was aware, but that doing so would render the budget requirements for funding the pension plans untenable,’