Description: Enterprise risk management (ERM) needs to be seen in perspective of other management priorities and is not first in the hierarchy of corporate needs.

Description: The abstract for the paper Dr. Phil's Guide to Pension Funding Reform.

Description: Investment Fallacies: The Best Model Doesn't Win

Description: Investment Fallacies: The "Dollar Bill" Fallacy

Description: This paper develops an option pricing model that takes cost of capital concepts as its foundation rather than dynamic replication. The resulting model, called the 'C' measure in this paper, is related to the family of Affine Jump Diffusion models that are well known in the finance literature, so it is fairly easy to understand and implement. We argue that this is a reasonable model to use for estimating equity implied volatilities that are beyond the five- to 10-year horizon that can typically be observed in today‘s capital markets. The paper concludes with a short discussion of how to grade from observable market data to the 'C' measure.

Description: Statistics about funded status for musicians' multiemployer pension plan

Description: Statistics about funded status of multiemployer pension plan.

Description: This case study is intended to educate insurance professionals on historical insurer impairments and insolvencies and possible future prevention indicators.

Description: This case study is intended to educate insurance professionals on historical insurer impairments and insolvencies and possible future prevention indicators.

Description: Updated study of metrics for measuring stress imposed on US multiemployer pension plans by unfunded liabilities and declining numbers of active participants