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: 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: 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.