Tis the Season for All Pension Fiduciaries ...
Dear Santa:
I've been a good pension fiduciary this year so I hope you remember me in a few days. It's been a tough year, with 2007 definitely looking grim. Do I merit a few extra brownie points for tackling my work with a smile and "can do" attitude? I'm trying hard but each day seems to bring a bundle of new challenges.
Here's the rest of my wish list.
1. Ten percent or better equity returns
2. Conflict-free service providers who really try to understand what problems we need to solve
3. Regulatory guidance that promotes a better understanding of how to comply with the Pension Protection Act of 2006
4. Recognition that my job is important
5. Liability insurance protection that helps me do a good job without worrying about significant personal exposure
6. Clarity about the incremental risks associated with strategies such as liability-driven investing, portable alpha and plan design
7. No major hedge fund blow-ups
8. Consultants and money managers who speak plainly
9. User-friendly analytics that support fiduciary due diligence
10. Vacation between the "pension problem" and the "health care crisis"
I better stop here so I can get this note to the North Pole in time for a jolly holiday arrival. By the way, what is your pension plan like? Say hi to Rudolph.
Thanks Santa!
HWPF
Hard Working Pension Fiduciary
Editor's Note:
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