Posts Tagged ‘rauh’

Actuaries and the Public Pension Crisis

Professor Joshua Rauh moderated a webinar on the public pension crisis that covered many bases and is well worth watching all the way through:
.

.
but for those interested in the role actuaries play here are some excerpts:

Continue reading

“Sore Loser” With “Limited Credibility”

That’s what a group of 70 Public Plan actuaries* at this month’s EA meeting view was of Moody’s and their revised rating methodology for US states as it relates to valuing unfunded pension liabilities:

Continue reading

Eggheads’ Cracked Reasoning

All the good Joshua Rauh and Robert Novy-Marx have done in spotlighting the real unfunded liabilities public pension systems are accruing (albeit through a fallacious riskless rate theory) could be undone as the two professors, in a recent book of essays edited by Aaron S. Edlin and Joseph E. Stiglitz, offer their solution – more debt and a Defined Contribution Plan for future employees – that would be even more disastrous if taken seriously.

Continue reading

The Riskless Rate Conundrum

Alica H. Munnell of the Brookings Institute came out with a book this month (State and Local Pensions: What Now?) that promises to be a useful overview of the crisis.  I ordered the book and expect a great read but one thing bothered me from the free chapter online: that riskless rate argument.

Continue reading