By: Russ Kamp, CEO, Ryan ALM, Inc.

We are pleased to share with you our insights and perspectives on the relationship of pension assets to pension liabilities (benefits and expenses) through the Q3’26 Newsletter. As you will read, the third quarter produced robust growth for pension funding, as liabilities collapsed due to a significant rise in U.S. interest rates (discount rate). As a result, funded ratios are at a high point since we began our analysis back in 2000. We believe that now is the time to take risk out of your asset allocation by securing a portion of the plan’s liabilities through cash flow matching (CFM).

As always, we encourage you to reach out to us with any questions or observations. Thank you for taking the time to read our insights, which we hope will prove useful.