We are pleased to share with you Ryan ALM’s latest insights related to how pension assets and liabilities performed in 2020. As you will note, despite a very strong rally in equities during the final 8 months of the year, liability growth (under FASB accounting rules) outpaced asset growth once again.

In addition to our views on pension liabilities, there are numerous blog posts and research ideas contained in this newsletter covering other topics of interest. As always, please don’t hesitate to reach out to us with any questions and/or comments. We welcome your feedback.