Description: As we meet with pension plan sponsors and consultants across Canada we find that the subject of liability-driven investing LDI comes up repeatedly even when we do not initiate the discussion. We also find that LDI seems to mean something different to each person we meet. Is LDI just a new name for asset/liability management ALM? Or is LDI just about hedging interest rate risks with fancy securities? In this article we describe a framework for understanding what LDI is, how it relates to ALM, and how it can be used to solve real-life problems for Canadian pension funds.

Description: This article discusses the affects of the Pension Protection Act of 2006 PPA primarily in relation to defined benefits pension DB plans.

Description: The article reviews recent investment performance of stable value compared to other low risk alternatives, discusses current criticisms of the option, and concludes that they are not well founded. Criticism reflects a lack of openness to the full range of stable value contracts available and manager bias against traditional GICs, not a real lack of wrap capacity. Stable value continues to be the pareto superior low risk option.

Description: Pension Forecasts, Part One: Some Questions by Lawrence N. Bader from Risks and Rewards Newsletter, February 2001, Issue No. 36.

Description: This paper concludes that there are two index rates that could best replace the 30-year Treasury in the calculation of the Current Liability of a pension plan - either the 30 year swap rate or the benchmark 30-year FNMA bond.

Description: The paper demonstrates that the most popular rationalization for evolving glide paths is flawed and should be discarded. The paper also demonstrates that glide paths should generally evolve for investors that endeavor to optimize outcomes and reevaluate their portfolios regularly.

Description: This articles describes the multi-pillar system of 1 pay as you go and 2 individual capital accounts to fund public pension plans which exists in Eastern Europe and Central Asia.

Description: This article provides key insights and data samples about various approaches to pension investing. Article from Risk and Rewards, August 2006, Issue No. 48.

Description: The selection of a discount rate is one of the most important assumptions for the calculations of present values. The paper presents the basic properties of the key measurements of investment returns and the discount rates associated with these measurements.

Description: Explains the method used to calculate Liquidity Cost Score and Price Impact Score. Describes the rationale for and applications of these methods.