Ryan ALM
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It Doesn't Have to be This Way
By: Russ Kamp, Managing Director, Ryan ALM, Inc. The Financial Times (FT) recently published an article highlighting the struggles of Ivy League schools trying to manage liquidity in the face of an extended downturn in the performance of private markets....
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...
Not so Fast!
By: Russ Kamp, Managing Director, Ryan ALM, Inc. You may recall in the 1970s Heinz Ketchup used Carly Simon's song, "Anticipation" as a jingle for several of its commercials. US bond investors might just want to adopt that song once...
The Joke's On Us!
By: Russ Kamp, Managing Director, Ryan ALM, Inc. According to a P&I article, the ECB has undertaken an “exploratory review of bank exposures to private equity and private credit funds in order to better understand these channels and to assess...
ARPA Update as of November 8, 2024
By: Russ Kamp, Managing Director, Ryan ALM, Inc. The PBGC continues to implement the ARPA legislation, although last week revealed less apparent activity according to its weekly update. The legislation which was approved in March 2021 and implemented beginning in...
Another Inconsistency
By: Russ Kamp, Managing Director, Ryan ALM, Inc. The US pension industry is so critically important for the financial future of so many American workers. The defined benefit coverage is clearly not what it once was when more than 40%...
Have You Ever Wondered?
By: Russ Kamp, Managing Director, Ryan ALM, Inc. Ever wonder why future pension contributions aren't part of the funded ratio calculation, yet future benefit payments are? Ironically, under GASB 67/68, which requires an Asset Exhaustion Test (AET), which is a...
ARPA Update as of November 1, 2024
By: Russ Kamp, Managing Director, Ryan ALM, Inc. Welcome to November. I'm shocked by how quickly the year is flying by. I'm also thankful that the incessant political commercials will soon be behind us. The PBGC had a very good...
Pension ROA - Trick or Treat?
By: Ronald J. Ryan, CFA, CEO, Ryan ALM, Inc. Ron brings to you today a Halloween Special titled, Pension ROA - Trick or Treat? In this research piece, Ron explores how the return on asset assumption (ROA) is calculated and...
"More Needs To Be Done!" - Do You Think?
By: Russ Kamp, Managing Director, Ryan ALM, Inc. This post is the 1,500th on this blog! I hope that you've found our insights useful. We've certainly appreciated the feedback - comments, questions, and likes - throughout the years. A lot...