Ryan: The Global Pension Cliff – Myths, Realities, and Courses of Action

ABSTRACT:

In the late 1990s, pension plans did not use their big surpluses to immunize their liabilities. They believed that weighting equity investments and achieving a return-on-assets objective would ensure a fully funded plan. Pensions are now running critical deficits. Solving the pension crisis requires realistic accounting rules, a redefinition of traditional asset allocation and risk practices, and a focus on the custom liability index.

 

Available for download here.

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