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Milliman: Corporate Pension Funding UP - Again!
Milliman released its monthly Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. They reported that the funded ratio has now improved for nine straight months - impressive! As of December 31, 2025, the...
The Times They Are A-Changin'
Thank you, Bob Dylan, for the lyric that is just perfect for this blog post. I have just returned from the IFEBP conference in Honolulu, HI. What a great conference, and not just because it was in Hawaii (my first...
AI Needs An Education Regarding ALM/CFM!
I asked an AI tool that I use the following: Asset/Liability Management (ALM) is an effective tool for pensions. What strategies are currently being deployed? As usual, the response was nearly instantaneous, but was it correct? Here is what I...
Milliman: Corporate Pension Funding Up
Milliman released its monthly Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans, and they are reporting that the collective funded ratio has risen to 105.1% as of June 30th from 104.9% at the...
Segal: Benefits of Pension De-Risking
Jason Russell and Seth Almaliah, Segal, have co-authored an article titled, "Benefits of Pension De-Risking and Why Now is the Right Time". Yes! We, at Ryan ALM, agree that there are significant benefits to de-risking a pension plan and we...
Problem/Solution: Generic Indexes
By: Ronald J. Ryan, CFA, Chairman, Ryan ALM, Inc. We challenge you to find Pension Liabilities in any Generic Bond Index . We’re confident that you won’t. As a result, we’ve developed an appropriate solution, which we call the Custom...
Ryan ALM: Problem/Solution
By: Ronald J. Ryan, CFA, Chairman, Ryan ALM, Inc. Problem: Pension Liabilities… MIA Solution: Cash Flow Matching (CFM) The true objective of a pension is to secure and fully fund benefits (and expenses) in a cost-efficient manner with prudent risk....
Reminder: Pension Liabilities are Bond-like
Milliman has released the results for their corporate pension index. The Milliman 100 Pension Funding Index (PFI), which tracks the 100 largest U.S. corporate pension plans showed deterioration in the funded ratio dropping from 106.0% to the 104.8% as of...
Corporate Funding Improved Significantly in 2024!
Milliman is out with the year-end report on corporate pension funding and it tells a beautiful story. The Milliman 100 Pension Funding Index (PFI), is reporting an average 105% funded ratio at the end of 2024 compared to 99.5% at...
That's Not Right!
By: Russ Kamp, Managing Director, Ryan ALM, Inc. I've recently had a series of terrific meetings with consultants, actuaries, and asset owners (mostly pension plans) about cash flow matching (CFM). I believe that most folks see the merit in using...