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ARPA Weekly Update
By: Russ Kamp, Managing Director, Ryan ALM, Inc. It must have been Spring Break for the members of the PBGC this past week, as there is nothing to update as it relates to the filing of applications or approval/payment of...
You Should Believe the Fed
By: Russ Kamp, Managing Director, Ryan ALM, Inc. Ron Ryan and I have been saying for a while that we believed that the likely next move in US interest rates was up. We are NOT in the habit of forecasting...
Two More Pension Plans Get Their SFA
Russ Kamp, Managing Director – Ryan ALM, Inc. The PBGC has just announced that two more multiemployer plans that filed applications for the Special Financial Assistance (SFA) have had those applications approved. In both cases, these were Group 1 priority...
It's Been Six Weeks
By Russ Kamp, Managing Director, Ryan ALM, Inc. With regard to this post's title, I'm not referring to the additional six weeks of winter predicted by Punxsutawney Phil or any other groundhog this past February 2nd. Winter in New Jersey...
Something's Gotta Give!
The Bloomberg survey for the 4th quarter of 2022 has the US 10-year Treasury Note yield projected to be 2.25%. The 10-year is currently trading at 1.995% (3/10 at 11:20 am EST). That doesn't seem to be much of a...
ASOP 4 - Third draft of the standard was approved in June
The time draws near when this standard goes into effect on your next valuation. Is your actuary ready? The Ryan ALM Custom Liability Index (CLI) is the perfect tool to help plan sponsors AND participants understand the significance of the...
What to Do, What to Do?
By: Russ Kamp, Managing Director, Ryan ALM Do you believe that we will see inflation maintained at elevated levels for some time to come? Do you think that bond yields eventually migrate higher to reflect this more robust inflation? After...
The Risk/Reward of Bonds
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...
A massive shift to Risk Assets - Are DB Plans Better Off?
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...
Roughly 80%
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...