The industry-wide trend of de-risking pension plans toward hibernation, while understandable, is undeniably costly and reflects an outdated view of pension risk that took hold in a period of extreme market volatility—but that condition no longer applies. In this special report for U.S. private pensions, we share a framework for pension stabilization as an opportunity for plan sponsors to adopt a more diversified and resilient model of asset-liability management that directly addresses undesirable risk concentrations in traditional hedge portfolios.

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