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Articles by author

 
Amy Trainor FSA, EA
Multi-Asset Strategist
Jan 2017
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Portfolio policy

Four pension issues to watch in 2017: An update for US corporate plans

A range of market, legislative, and regulatory developments could shape plan sponsor decisions in the coming year. This note highlights some we’ll be keeping an eye on. Key points US corporate... Read More

Dec 2016
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Portfolio policy

W_lock Setting ROAs: A 2016 year-end guide for US corporate and public plans

To help plan sponsors make more informed decisions, this annual update details key ROA assumptions and provides our latest trend analysis and 15-year capital market expectations. Read More

Sep 2016
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Portfolio policy

W_lock Constructing a corporate bond liability-hedging portfolio: A global perspective

Among the risks that many pensions must consider is spread risk in the liability-hedging portfolio. Intuitively, one might assume the solution is a domestic corporate bond allocation with a duration that is... Read More

May 2016
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Portfolio policy

W_lock Funded-ratio volatility management: Navigating the perfect storm

For pension plan sponsors, 2016 did not start well, with weak equity markets and falling rates pushing funded ratios lower. To help manage the impact of market turbulence, we propose an approach to liability-... Read More

Mar 2016
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Portfolio policy

W_lock Smoothing the lumps: Thoughts on mitigating the risks of lump-sum pension...

Lump-sum payments from corporate pensions are generally intended to help transfer risk away from a plan. As we discuss in this paper, however, achieving this objective requires careful consideration of... Read More