Ryan ALM
Blog
ARPA Update as of March 27, 2026
The PBGC isn't quite down to the wire as UConn was in yesterday's incredible game with Duke, but they still have a lot to do before December 31, 2026. It doesn't seem like they'll have to throw up a prayer...
What is My Funded Ratio? Who Cares!
The funded ratio of a DB pension plan gets a lot of attention, especially if it is perceived to be weak. But does the funded ratio truly tell you the whole story as to the financial health of a DB...
ARPA Update as of March 20, 2026
I'm sure that folks were very (perhaps bitterly) disappointed not to get my weekly update yesterday on the PBGC's implementation of the ARPA pension legislation. I was traveling for business yesterday, but unlike many travelers, my experience at Newark Airport...
Don't Look Down - That Yield Curve is Steep!
One year ago today, the 2-year Treasury note was trading at a yield of 3.99% and the 30-year Treasury bond had a yield of 4.55% for a very tight 56 basis points spread. What a difference a year makes. Coming...
What Would You Do?
Happy St. Paddy's Day to my Irish friends (I'm 1/2 Irish) and those that would like to be. May the luck of the Irish embrace you today. As many of you know, we are always willing to provide to the...
Unfortunately, the Joke Was On Us!
I started raising alarm bells related to DB pension exposure to alternatives - mainly private equity and private credit several years ago, and have produced roughly a dozen blog posts that touch on this issue. You may recall some of...
ARPA Updated as of March 13, 2026
I'll be wearing my green tomorrow. How about you? Perhaps the luck of the Irish will carry some weight with the PBGC during the upcoming week, but it didn't have much sway last week. The PBGC accepted two revised applications...
What is the PCE Price Index Telling Us?
As most investors know, the Federal Reserve's primary inflation measure is the Core Personal Consumption Expenditures (PCE) price index. The Federal Open Market Committee (FOMC) targets 2% annual PCE inflation while trying to balance long-term price stability and maximum employment....
Is A Pension Plan's Negative Cash Flow a Crisis?
Ryan ALM's Chairman, Ron Ryan, shares his thoughts regarding negative cash flows for DB pension plans and what a potential solution could be to mitigate the impact. As a reminder, pension plans are designed to have the last $ in...
It's Not Just the Price of Gasoline!
Folks (the investment community) seem to be focused on the rising price of oil for its effect on gasoline prices, but the impact of rising oil prices has far greater implications for the broader U.S. economy. Evidence indicates that a...