We are pleased to share with you the Ryan ALM Q4’21 Newsletter. This newsletter highlights the relationship of pension assets to liabilities, which we believe is the most important metric. As you will read, calendar year 2021 was a strong year for Pension America as assets dramatically outperformed liability growth. Now what? Will you rethink the traditional approach to asset allocation or will the whims of the markets impact your plan’s funded status and contribution expenses. Will pension plans respond to their improved funded status and de-risk some of the assets? We believe that the primary objective in managing a pension plan is to secure the promised benefits at a reasonable cost and with prudent risk. Are your promised benefits secure? We’d welcome the opportunity to share our thoughts and expertise with you.