December 5, 2016

A Strategy That Pays Dividends – Dividend Tilts in Taxable Insurance Portfolios

Taxable insurance portfolios can enhance returns by employing the tax code’s preference for dividends. By...

March 9, 2016

NISA’s Target Date Glidepath – Designed for Retirement Security

The retirement landscape is shifting, as the workforce grows older and increasingly relies on its...

November 9, 2015

The Full Picture on Partial Buyouts

Plan sponsors may be disappointed if they expect to eliminate most of their pension risk...

May 7, 2015

Regulators Pave the Road to Retirement Income

We’ve witnessed a flurry of new guidance and regulations from both the Department of Treasury...

March 6, 2015

Credit Where It’s Due

When de-risking with liability driven investing, pension plans must decide on the right blend of...

December 10, 2014

Pension Buyout Reality Check

Recent annuity purchases highlight the need to examine what drives their pricing. Plan sponsor announcements...

December 3, 2014

The Beauty of the Bundle

DC participants want the most for their money when choosing a retirement income strategy. While...

September 19, 2014

Long Live Longevity Annuities

DC plans can now offer deferred “longevity” annuities that provide income in the later years...

July 31, 2014

The Long View on Short Rates

Since the 2008 financial crisis, the market has suggested a rapid rise in short-term rates...

May 16, 2014

Refocusing on Retirement Income Risk

Fixed income allocations in defined contribution plans, while perceived as low risk, may actually expose...

May 8, 2014

Spreading Confusion

We have observed (with some bemusement) how the financial media often compares the yields on...

February 18, 2014

Cash on the Barrelhead

LDI hibernation strategies may present an opportunity to de-risk at a lower expected cost and...

August 12, 2013

At the Crossroads

Many pension plan sponsors and fiduciaries are confronting perhaps the most important decision in the...

April 30, 2013

Putting Longevity Risk in its Place

Pension plans run the risk that actual beneficiary lifespans can exceed those assumed in their...

March 20, 2013

Contribution Relief with a Catch

At first blush, MAP-21 would appear to make pension plan contributions less likely in the...

January 30, 2013

Defining the Pension De-Risking Spectrum

Pension de-risking need not be an all-or-nothing decision. In fact, plan fiduciaries may be surprised...

January 6, 2013

The Credit Rating Impact of Pension De-Risking

By simply de-risking their pension plan, companies can realize most of the benefits of annuity...

November 27, 2012

Efficient Tax Management in Taxable VEBA Portfolios

Reducing tax consequences in equity portfolios offers tangible benefits in the current tax environment. Three...

October 11, 2012

Funding Relief and Implications for Pension Investing

The recently-passed Moving Ahead for Progress in the 21st Century Act (“MAP-21”) provides temporary funding...

September 26, 2012

PSRX Overview

NISA’s proprietary Pension Surplus Risk Index (PSRX®) and supplemental data offer plan fiduciaries a means...

September 26, 2012

PSRX Guide

August 15, 2012

Corporate Bond Scarcity? The Case for Separating Interest Rate and Spread Risks

U.S. pension plan demand for long duration corporate bonds has been and is expected to...

October 5, 2011

Prospective Funded Status Volatility

Negative performance of risk assets, coupled with lower interest rates, has had the obvious effect...

August 2, 2011

Break-even Yield Curve

Like any market, timing interest rates is challenging. This brief addresses one key, and often...

July 31, 2011

Dynamic Liability Driven Investing

Pension plans have used Liability Driven Investment (LDI) strategies for years. In this brief we...

May 27, 2009

Interest Rate Hedges

Interest rate markets have experienced pronounced volatility in recent years. Many pension liability hedge strategies...

December 18, 2008

Considerations Surrounding Corporate Bonds in Pensions

Widening credit spreads increases focus on the suitability and attractiveness of corporate bonds as pension...