MC LMS - Expected Rates of Return: A Whipsaw Effect?

Expected Rates of Return: A Whipsaw Effect?

This session has been archived and is no longer available for purchase. Participants who have purchased archived sessions are still able to access the video and receive credit.

Session Summary: Over the past decade, public pension assumptions for expected rates of investment return have steadily declined given low yields on fixed income and high valuations in equities, which lowered capital market assumptions (CMAs). Today, rising bond yields have altered the trajectory of forward-looking CMAs by increasing expected returns for many asset classes. This new environment leaves public pension stakeholders – investment consultants, plan actuaries, and government entities – with a novel question: what should these recent conditions mean for a plan’s expected return on assets assumption? This session is from the 2024 Trustee School. Content may be dated.

Presenter:

Steve Benjamin, CFA

Partner

Aon

Credits: This course is worth 1.0 GAPPT CEC (Continuing Education Credit). It also qualifies for 0.1 IACET CEU (Continuing Education Unit).

Instructions: Participants must watch the session video presentation and pass the session assessment to earn GAPPT CECs and IACET CEUs.

Prerequisites: None.

Equipment Requirement: Computer, tablet or smartphone and internet access. To avoid issues, please use Google Chrome as your browser.

Course Details

For Distributors

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Instructors

Steve Benjamin, CFA

Steve is a partner and co-lead of Aon's Atlanta, Georgia, office. He provides investment consulting services to several defined benefit and defined contribution plans, with a focus on pension risk management and defined contribution plan strategy. Before joining Aon in 2012, he worked for a national investment consulting firm where he advised several client types, including defined benefit plans, defined contribution plans, endowment and foundation funds, and charitable organizations. Steve began working in the investment industry in 2000 and has two decades of investment consulting experience with large institutional investors.

As a GAPPT presenter, Steve has received information regarding educational instructional methods and adult learning processes.