这个题为什么不选liability呢？

问题如下：

Park presents a report (Exhibit 1) that proposes a new strategic asset allocation for the pension plan. Kroll states that one of the concerns that the investment committee will have regarding the new allocation is that the pension fund needs to be able to fund an upcoming early retirement incentive program (ERIP) that SMC will be offering to its employees within the next two years. Employees who have reached the age of 55 and whose age added to the number of years of company service sum to 75 or more can retire 10 years early and receive the defined benefit pension normally payable at age 65.Based on Exhibit 1 and the proposed asset allocation, the greatest risk associated with the ERIP is:

选项：

A.

liability.

B.

leverage.

C.

liquidity.

解释：

C is correct. With the introduction of the early retirement incentive plan (ERIP), the defined benefit pension plan will likely be called upon to make pension payments earlier than originally scheduled. As a result, the near term liquidity of the plan is the greatest risk arising from the addition of the alternative asset classes (e.g., private equities, hedge funds, and real estate). Investments in alternatives, such as private equities, can take upwards of five years to reach a full commitment and potentially another decade to unwind.