Archive for the ‘Books’ Category

Beyond the 401(k)

A marketing book for cash balance plans that came out in 2010 geared for financial advisors with some questionable assertions* but also some helpful excerpts (some for my clients) including on pension history:

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Rescuing Retirement Flaws

Tony James, Blackstone chief operating officer and “Rescuing Retirement” co-author, was on CNBC today pushing his Guaranteed Retirement Account (GRA) proposal:
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What the panel seems to have missed…

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SOA Papers

Four papers from the Society of Actuaries (SOA) just dropped:

U.S. Single Employer Pension Plan Contribution Indices, 2009-2015

U.S. Multiemployer Pension Plan Contribution Indices, Updated Through 2015

U.S. Multiemployer Pension Plan Stress Metrics: Previous Benefit Cost and Previous Benefit Cost Ratio

U.S. Multiemployer Pension Plan Withdrawals, 2009-2015 (PDF)

Taking 5500 data off the DOL website yielded these observations from the SOA with my notes in (brackets):

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Rescuing Retirement

The proposal was pushed before the 2016 election and is now a book with a plan to expand Social Security in a way that the financial community can benefit from. The disturbing model for the plan:

Public pension plans are the most relevant comparables for the proposed Guaranteed Retirement Account (GRA) pooled national fund because both are ongoing retirement trusts with similar time horizons, risk parameters, investment strategies, cash flows, and objectives. (page 34).

More excerpts:

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Confessions of a Political Hitman

I can honestly say that, in the dozens of confrontations I’ve had over the years with Democratic political hacks and bureaucrats, even when I was illegally being denied public information, I was never, I mean never, treated with with the disrespect and arrogance I met with during my time in New Jersey,

Stephen Marks, Confessions of a Political Hitman (page 269)

More excerpts:

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Delay Deny Defend

An aspect of living in New Jersey that has improved over the years is the library system with new Sunday hours at many branches and being able to borrow from scores of libraries with a Kenilworth card. It was at the Matawan library which had a copy of a movie I was searching for where, browsing through the stacks, I stumbled upon a book related to a past life I had in the property & casualty insurance field. Excerpts follow:

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The Truth Matters

A Citizen’s Guide to Separating Facts from Lies and Stopping Fake News in Its Tracks by Bruce Bartlett just came out and a link above leads to a listing of ‘Reliable news and statistics resources’ listed in the appendix. Below are notable excerpts.

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