We are pleased to share with you the latest edition of the KCS Fireside Chat series. In this article, we discuss once again Pension Obligation Bonds (POBs), but there is a twist. Ryan ALM and KCS are working with key multi-employer executives to create legislation that would provide government guaranteed loans to critical and declining plans. These loans, similar to POBs, would help close funding gaps for these poorly funded plans. However, unlike traditional POBs, the proceeds must be used to immunize retired lives. Enjoy!