Ryan ALM
Blog
DB Pension Plan "Absolute Truths" Revisited
This post may be familiar to some of you, as I originally published it in October 2024. Given today's great uncertainty related to geopolitics, markets, and the economy, I thought it relevant to share once again. Please don't hesitate to...
MV versus FV
There seems to be abundant confusion within certain segments of the pension industry regarding the purpose and accounting (performance) of a Cash Flow Matching (CFM) portfolio on a monthly basis. Traditional monthly reports focus on the present value (PV) of...
The Intrinsic Value of Bonds
Ronald J. Ryan, CFA, Chairman The true value of bonds is the certainty of their cash flows (interest + principal payments). I don’t believe there is another asset class with such attributes. This is why bonds have traditionally been the...
ARPA Update as of February 7, 2025
Welcome to February! I am a day late in reporting on the PBGC's activity from last week, as I was an instructor at the IFEBP's Advanced Trustee and Administrator's Conference. Fortunately, it is in Orlando and not New Jersey, where...
ARPA Update as of November 15, 2024
By: Russ Kamp, Managing Director, Ryan ALM, Inc. I can't believe that Thanksgiving is next week. It appears that the PBGC was motivated to get some things done in anticipation of that holiday, as we witnessed more activity last week...
The Proof's in the Pudding!
By: Russ Kamp, Managing Director, Ryan ALM, Inc. Not sure why I used the title that I did, but I recently had pudding (vanilla) over the holiday weekend, so maybe that inspired me, and boy, was it good! That said,...