Unlike any other asset class, fixed income (bonds) have two risk/reward values: Total Return Certain Cash Flows Total Return Value The total return value in bonds is the converse of interest rate movements. When rates go down, as they have...

This post was originally produced on 10/15/21. "Increasing equity exposure in the hope that a greater return will reduce the need for future contributions hasn’t yet proven to be true. It has ensured that total expenses (management fees) have gone...

We are monitoring closely the application filings for Special Financial Assistance (SFA) under ARPA which began with Group 1 eligible plans in July 2021. Group 1 plans were those pension funds that were already insolvent or those that were forecast...

I suspect that those who read this blog regularly are likely able to finish this next point before they get to the end of the sentence. But it is worth repeating. The primary objective in managing a DB pension plan...

Many US states find themselves with surplus funds after significant support from ARPA legislation. Although direct DB pension plan support was not a permitted use of the ARPA proceeds, states with surpluses are looking for ways to prop up their...

I hope that you had a great weekend. I can't believe that February has already come and gone (effective today). Here's the weekly update related to ARPA application filings, approvals, and payments. This is going to be a fairly simple...

I am happy to report that today's post is the 1,000 produced on this blog. I've tried to cover many different aspects of pension management. My blogs are intended to help, encourage, urge, foster, persuade, promote, advance, and even implore...

Everyone in the Pension arena understands the actuarial formula: B+E = C+I, where outflows (benefits and expenses) equal inflows (contributions and investment earnings). This equation strives for harmony, but as we've witnessed through many decades, the uncertainty around I places...

I produced the initial "Like A Bridge Over Troubled Waters" post on October 1, 2021. In that post, I highlighted the fact that the decade of the '00s witnessed two episodic market events that produced nearly -50% declines in each...

If given the opportunity to watch paint dry or follow closely the activity surrounding developments related to American Rescue Plan Act (ARPA) and the Special Financial Assistance (SFA), I'd encourage you to sit down and watch some paint. Just make...