Ryan ALM
Blog
P&I: "Not The Time To Panic" - Frost
There is hardly ever a good time to panic when managing a defined benefit pension plan. No one ever wants to be a forced seller because liquidity is needed and not available. Too often what looks like a well-diversified portfolio...
ARPA Update as of April 11, 2025
For those observing, may you have a good Passover and a Happy Easter. I was busy this past weekend stuffing 220 eggs with goodies for our 11 grandkids! Let's hope that weather cooperates. I'm not overly confident on that happening...
What Was The Purpose?
I was introduced to the brilliance of Warren Mosler through my friend and former colleague, Chuck DuBois. It was Chuck who encouraged me to read Mosler's book, "The 7 Deadly Innocent Frauds of Economic Policy". I would highly recommend that...
Milliman - Corporate Pension Funding Falls in March
Milliman has just released its monthly Milliman 100 Pension Funding Index (PFI) , which analyzes the 100 largest U.S. corporate pension plans. Weak investment returns, estimated at -1.4%, drove the PFI asset level down by $25 billion during March. Current...
Ryan ALM, Inc. Q1'25 Newsletter
We are pleased to provide you with the latest Ryan ALM, Inc. Newsletter as of March 31, 2025. As you will read, private DB pension plan funded ratios fell during the quarter as asset growth tumbled while interest rates (discount...
ARPA Update as of April 4, 2025
Kudos to the PBGC that put their collective heads down and got to work despite the turmoil in the global markets. The placement of tariffs on basically everyone and everything has created significant uncertainty for our markets. Let's hope that...
Pension Asset Allocation
David Gates, of Bread fame, penned "If" in 1971. One of the more famous lyrics in the song is "if a picture paints a thousand words". If the average picture paints 1,000 words, the image below paints about 1 million....
An Ugly Day For Pension America
Yes, today's ugliness in the markets is only one day and how many times have we heard or read that you can't market time or if you miss just the best performing 25-, 50-, or 100-days in the stock market,...
What Happened to... Reversion to the Mean?
By: Ronald J. Ryan, CFA, Chairman, Ryan ALM, Inc. Most asset allocation models use the historical mean average for each asset class as the basis for predicting future average returns… in particular, the Return On Assets (ROA) forecast. Currently, most...
The Buying Of Time Can Reap Huge Rewards
When we present the list of benefits associated with using Cash Flow Matching (CFM), one of the benefits that we highlight is the buying of time a.k.a. an extended investing horizon. Our pension community tends to fall prey to short-termism...