The Pension Crisis: Six Lessons Learned and a Way Forward

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What have we learned from the seemingly endless recent run of pension crises, which have lasted some seven years and have encompassed both DB and DC plans?

Having lost assets and then regained them, both kinds of pension plans should be on a path to being healthy, yet they are not. For many plans, liabilities still exceed assets, some by vast amounts. In many cases there is no feasible plan for making up the difference — even the generally prosperous state of Illinois is near bankruptcy because of pension shortfalls. In the eurozone, concerns about the solvency of Greece pivot on pension liabilities.

The Pension Crisis: Six Lessons Learned and a Way Forward,” with Stephen C. Sexauer, The Retirement Management Journal, Fall 2015.

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