Ryan ALM
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Operation Home Run
Pension Solution: Operation Home Run The true objective of a pension is to secure and fully fund benefits in a cost-efficient manner with prudent risk . This is best accomplished...
Problem/Solution: Generic Indexes
Problem: Find Pension Liabilities in any Generic Bond Index Solution: Custom Liability Index (CLI) Pension liabilities are unique to each plan sponsor… different salaries, benefits, expenses, contributions, mortality, inflation assumptions,...
The Pension Crisis of 2000-02
In my 2013 book “The U.S. Pension Crisis” I detailed the causes of the 2000-02 pension crisis where funded ratios deteriorated significantly from a surplus position in the 1990s. This...
The Smartest Beta
The term “beta” is credited to William F. Sharpe, Ph.D. in his 1964 work in development of the “Capital Asset Pricing Model (CAPM)”. It means (1) the covariance of the...
Ryan ALM, Inc. Celebrates 20th Anniversary
Ryan ALM, Inc. Celebrates 20 th Anniversary Mission: Protecting and Preserving Pensions Ryan ALM, Inc. was incorporated in Delaware on June 15, 2004. Ronald J, Ryan, founder, says that “we...
Liability Beta vs. Market Beta
Beta is a term first pioneered by PhD. William Sharpe in his 1970 book “Portfolio Theory and Capital Markets”. Here he introduced his famous capital asset pricing model (CAPM) which...
Cash Flow Matching Overview
Cash Flow Matching Pension Objective Fund benefits in a cost-efficient manner with prudent risk Pension Needs Liquidity to fund benefits Reduce Contribution costs Reduce Volatility of Funded Status Strategy Value...
Duration vs. Cash Flow Matching
Pension Solutions: Dollar Duration Matching and Cash Flow Matching Ryan ALM believes that the objective for a defined benefit pension is to fund and secure benefits in a cost-effective manner...
Cash Flow is King!
Executive Summary Pensions are all about cash flows. They require asset cash flows including projected contributions to fund projected benefits + expenses.Retired Lives are the most imminent and certain liability...
Pension Solutions Series Part 2 - Liability Beta Portfolio™ (LBP)
Pension Solution: Liability Beta Portfolio™ (LBP) The primary pension objective is to secure promised benefits (Retired Lives) in a cost- effective manner (stable to lower contribution costs) with prudent risk...