Practical analysis for investment professionals

Pensions


Public Pensions: Investing for the 22nd Century

Antonio Rodriguez, CFA, CIPM, director of investment strategy for the New York City Board of Education Retirement System (BERS), speaks to Paul Kovarsky, CFA, about the challenges public pension trustees face in the United States and how they can better inform one another's efforts.

Screams from a Burning Theater: Jeremy Gold on the Retirement Crisis

“Where are the screaming actuaries yelling in these burning theaters?” Jeremy Gold once asked. Gold passed away earlier this month, leading Heidi Raubenheimer, PhD, CFA, to recall his words and reflect on the state of the retirement crisis.

Book Review: The Future of Pension Management

The author, a thought leader in the pension industry, covers a broad spectrum of pension management topics. He focuses on changes the industry needs to make in order to overcome its challenges — in particular, its failure to achieve its goals of affordability and retirement security. The solutions already exist; the problem is one of implementation.

Lessons from the Canadian Public Pension Fund Model

What's the secret formula behind the Canadian public pension fund model? Are its strategies applicable in other contexts? A panel of experts recently weighed in.

A New Model for Pension Management

Keith P. Ambachtsheer, long an outspoken advocate for pension reform, gave a sober assessment of the state of the world’s workplace retirement plans, praising the relative strength of plans in northern Europe while declaring those in southern Europe to be a “disaster.”

The 10 Keys to a Retirement System That Works

When clients ask you whether the hodgepodge of social security programs, private savings accounts, and employer-sponsored retirement plans that we collectively rely on will be sufficient to provide them with a comfortable living after they stop working, you probably have an easy answer at the ready. "Ha!"

Does More Regulation Make Investment Products Safer?

Regulation in the financial industry is on the rise. The issue is: does extra regulation reduce the risk of loss?

Big Decisions — Judging an Uncertain Future from the Past

Whether in political history or analyzing spreadsheets of historic data, when looking back we need to be very aware of where we are looking back from.

Question: How Does Investment Return Affect Pension Cost?

Yes, a higher return on plan assets reduces the funding requirements for the pension plan and the expense that the sponsor must report. But the plan’s true economic cost is independent of the investment performance of the plan assets.

Why We Need to Change the Conversation about Pension Reform

The sustainability of traditional public sector defined benefit (DB) plans has become front-page news and the subject of acrimonious debates usually framed in stark terms of DB versus DC (defined contribution). This either/or framing is unhelpful: It simply perpetuates the strongly held views of the defenders and critics of these two opposing pension models.



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