Pension Assets Up, But So, Too, Are Liabilities

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Mark Melin
Published on
Updated on

With the aging of America comes increased pension fund liabilities, a topic which has been top of mind for fund managers. A recent Milliman study shows the double-edged sword of such plans, which have higher funding ratios but also increased liabilities. The reach for yield in a low-interest rate environment has, in part, caused funding ratios to move lower as the deficit between growing liabilities and available assets climbs to a new study high. [reits] Good news in Millman study is that aggregate funding ratios and pension assets are up, the bad news is that liabilities are up, too The…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.