We are pleased to share with you the latest Ryan ALM quarterly newsletter (9/30/19). As you will see, despite strong market returns achieved so far in 2019, DB pension liabilities have witnessed rapid growth as U.S. interest rates continue to fall, especially in longer maturities. See how pension liabilities have dramatically outperformed asset growth since the end of 1999. This is one of the primary reasons that pension America has seen an amazing exodus from offering DB plans in favor of DC offerings.

We have some other good stuff in this edition. Furthermore, we are always encouraging feedback and challenges to our ideas. Please don’t be shy.  We are here to answer any of your questions.