Ryan ALM
Blog
Pension Plan Sponsor: "I Wish that I could..."
In October, I will celebrate my 45th year in the pension/investment industry. I've been truly blessed, but also frustrated by activities that I deem detrimental to the successful management of DB pension plans. First and foremost, I believe that a...
A Ryan ALM, Inc. Client Portfolio Review
We are blessed to work with a wonderful array of clients, both pension and E&F. They have chosen to bring an element of certainty to the management of their fund. We commend them for that decision and thank them for...
March Proves Challenging for Core Fixed Income
March was a difficult month for active core fixed income managers, as the Bloomberg U.S. Aggregate Index fell -1.8%. Uncertainty related to the impact of the Iran War on oil prices and subsequently inflation, pushed rates higher across the Treasury...
Trouble Paying the Bills?
“The worst thing that can happen,” Andrew Junkin, CIO, Virginia Retirement System says, “is that you’re a forced seller in any market.” That quote appeared in a Chief Investment Officer article from March 4, 2026. We couldn't agree more with...
ARPA Update as of March 20, 2026
I'm sure that folks were very (perhaps bitterly) disappointed not to get my weekly update yesterday on the PBGC's implementation of the ARPA pension legislation. I was traveling for business yesterday, but unlike many travelers, my experience at Newark Airport...
What Would You Do?
Happy St. Paddy's Day to my Irish friends (I'm 1/2 Irish) and those that would like to be. May the luck of the Irish embrace you today. As many of you know, we are always willing to provide to the...
Unfortunately, the Joke Was On Us!
I started raising alarm bells related to DB pension exposure to alternatives - mainly private equity and private credit several years ago, and have produced roughly a dozen blog posts that touch on this issue. You may recall some of...
Here's Another Example - Why, Oh Why?
In October 2022, I wrote the following: "I believe that we have overcomplicated the management of DB pension plans. If the primary objective is to fund the promised benefits in a cost-efficient manner and with prudent risk, why do we...
Eliminate the Uncertainty
There are many benefits to using Cash Flow Matching (CFM) for your pension plan, endowment or foundation. The obvious benefit is the liquidity that is created to meet ongoing expenditures, whether benefit payments or grants. That liquidity comes at a...
ARPA Update as of February 27, 2026
Welcome to March and all the "madness" that comes with it! Regarding ARPA and the PBGC's implementation of this critical pension legislation, last week proved to be fairly quiet, and I imagine it will continue to be so, as the...