Why is the expected, rather than actual, return used in computing pension expense?

A pension fund is a long$-$term buy$-$and$-$hold investment

The assumption about the expected return is that the company can get its hands on any surplus in the pension fund

The assumption about the expected return is that the transfer of assets to the trustee of the pension plan effectively eliminates the pension obligation

IRS regulations mandate the use of the expected return

Employees could insist on receiving all compensation in the form of cash