Ryan ALM
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Kinda Silly Question
By: Russ Kamp, Managing Director, Ryan ALM, Inc. If you ask the average person the following questions, I suspect that most people would answer in the affirmative. Are you handsome? Are you intelligent? Are you honest? So, I found it...
ARPA Update as of May 3, 2024
By: Russ Kamp, Managing Director, Ryan ALM, Inc. Welcome to May! The PBGC has now been implementing the ARPA legislation since July 2021. Great strides have been made since Local 138 Pension Trust Fund received the first approval for the...
He Said What?
By: Russ Kamp, Managing Director, Ryan ALM, Inc. I'd like to thank Bill Gross for his honest assessment that he just provided on the likely failure of "Total Return" bond products going forward. Here are his thoughts that were summarized...
CFM: Buy Time and Reduce Risk
By: Russ Kamp, Managing Director, Ryan ALM, Inc. A traditional DB plan's asset allocation comes with a lot of annual volatility (see the graph below). That volatility gets reduced as one extends the investing horizon, but it is still quite...
Another Challenging Month for US Fixed Income
By: Russ Kamp, Managing Director, Ryan ALM, Inc. S&P Dow Jones is out with its monthly "Dash Board" on a variety of benchmarks, both domestic and foreign. April proved challenging for both US equities and bonds. With regard to stocks,...
Healthier Than Ever? Nah!
By: Russ Kamp, Managing Director, Ryan ALM, Inc. P&I produced an article yesterday titled, "Corporate Pension Funds Are Fully Funded, Healthier Than Ever. Now What?" According to Milliman, corporate pension plans are averaging roughly a funded ratio of 106%. This...
How "Real" Will the Fed Get?
By: Ronald J. Ryan, CEO, Ryan ALM, Inc. Chairman Powell and the Fed have consistently said they want real rates. The Fed primarily focuses on the Personal Consumption Expenditures (PCE) as their gauge of inflation. Currently the PCE is at...
ARPA Update as of April 26, 2024
By: Russ Kamp, Managing Director, Ryan ALM, Inc. Can you believe that a 1/3 of 2024 will soon be behind us? It is finally feeling like Spring in NJ today. There is not much to discuss regarding the PBGC's implementation...
Milliman Reports Improved Funding For Public Fund Pension Plans as of March 31, 2024
By: Russ Kamp, Managing Director, Ryan ALM, Inc. Milliman recently released results for its Public Pension Funding Index (PPFI), which covers the nation’s 100 largest public defined benefit plans. Positive equity market performance in March increased the Milliman 100 PPFI...
Tricky? Not Sure Why!
By: Russ Kamp, Managing Director, Ryan ALM, Inc. The WSJ produced an article on April 22, 2024 titled, " Path for 10-Year U.S. Treasury Yield to 5% Is Possible but Tricky " At the time of publication, the 10-year Treasury...