Opinion

  1. Glidepath evaluation: Moving past 'to vs. through'

    trueGiven the complexities associated with target-date funds' many moving parts, the growing number of distinct approaches and the need to look beyond the record keeper's proprietary offering, choosing the right suite of TDFs can be a daunting responsibility.

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  1. Everyone is focusing on the wrong goal in retirement planning

    trueRobert C. Merton, 1997 Nobel laureate, wrote in the July-August issue of Harvard Business Review: “The seeds of an investment crisis have been sown. The only way to avoid a catastrophe is for plan participants, professionals and regulators to shift the mindset and metrics from asset value to ...

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  2. Taking a more proactive approach to socially responsible investing

    trueMany non-profit organizations with growing endowments and foundation investments pools can use SRI to make impactful contributions to their mission and work.

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  3. Creating a culture of retirement savers

    trueIt is clear that our country's savings culture — and the systems that support it — need a significant reboot.

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  4. Target-date fund outcomes expose fiduciaries to risk

    trueTDFs are often black boxes, so many fiduciaries don't realize they do not have a rigorous conceptual basis — as demonstrated by the dramatic variation in the returns and asset allocations of funds with the same target date.

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  5. High-frequency trading: Considerations and risks for pension funds

    truePotential negative effects of the subset of automated algorithm-based trading known as high-frequency trading have recently generated significant attention, including congressional hearings, regulatory investigations, lawsuits and widespread media coverage. A fiduciary to a pension fund should ...

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  6. Unearthing the gems in GEM

    trueOver the last 12 months since the advent of talk about U.S. tapering, global emerging markets equity feels like the asset class strategists have loved to hate. While some think there might be the occasional "dead cat bounce," the region remains, in the opinion of many, a dead cat.

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  7. For ERISA to have a future, return it to its roots

    trueForty years ago, President Ford signed the Employee Retirement Income Security Act into law. It's hard to conceive now, but ERISA was crafted by both Democrats and Republicans with support from both business and labor. Since then, it's protected the pensions of tens of millions.

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  8. The market is ready for proxy access

    trueIt is time for the Securities and Exchange Commission to propose proxy access again.  

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  9. Solutions to the pension crisis

    trueIf U.S. pensions funds were to mark-to-market assets and liabilities, they would have a deficit of about $4 trillion. If TARP I was a national emergency at $800 billion, what do you call this?

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  10. Challenges from 401(k) fiduciary breaches litigation

    trueWith ERISA entering its 41st year, commentators highlighting the landmark legislation's successes and failures have paid little attention to the newfound focus on fiduciary responsibility resulting from an increase in litigation from alleged fiduciary breaches, particularly in 401(k) defined ...

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  11. Embracing risk: Perils of aversion and misdefinition

    trueThe investment community is developing a strong aversion to risk at the institutional levels - with serious consequences.

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  12. Canada offers lessons for CalPERS, other U.S. funds

    trueI was a member of a task force created in the late 1980s by the government of Ontario to recommend how the province's public-sector pension plans might be restructured for better performance.

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  13. Kick-starting an internal risk-management dialogue

    trueConventional risk management efforts are often designed to manage risk when conditions are considered normal or in a business-as-usual environment, but not during extremes, which is when risk management is most needed.

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