Pensions and Pension Risk Trends and News into 2011

1. Pension Risk News and Trends:Entering 2011 Updated Regularly at www.PensionRiskNews.com

2. Pension Risk News • Companies Selling Bonds to Help Cover their Pension Costs http://bit.ly/fX8B8K • 2200 San Diego Retired or Current Workers Have Problems http://bit.ly/eWQjKi • Nyhart Actuaries Design New 401(k) Plan http://bit.ly/ebC3aU • Pension Benefit Guaranty Corp Nears Record Deficit http://bit.ly/hlcafl

3. Risk News, Continued • $4.1 Billion in Pension Bonds May Be Sold By Illinois http://bit.ly/ggLbv5 • No More Investment Consulting for Public Sector Defined Benefits Plans by Mercer http://bit.ly/i7yUpw • $800 million jump in accrual retirement costs for the Army, Navy, Air Force and Marine Corps http://bit.ly/gUa99V

4. Pension Risk Trends • Life Expectancy Increases Are Messing With Pensions http://bit.ly/h1FHDH • Maybe Canada Should Raise Their Retirement Age http://bit.ly/eKNfC4 • European Insurers versus European Pension Funds: Who Will Win the Solvency II Argument? http://bit.ly/g5ePuh • Should New Jersey Declare Bankruptcy Over Their Pension Deficit? http://bit.ly/dEQBnb

5. Risk Trends, Continued • San Jose Voters Support Pension Reform; SF Voters Defeat it http://bit.ly/heX1KU • Will HR Consulting Be Priced Like a Plentiful Commodity? http://bit.ly/e5mOT2 • 10 Barriers to Retirement Planning Advice Identified by Actuaries http://bit.ly/gLLflj • Germany is on the Cutting Edge of Liability-Driven Investment http://bit.ly/g2O1m4

6. Risk Trends, Continued • NY Times discusses US States’ Pension Accounting http://bit.ly/hHwDPd • Solvency II will affect Pension Firms ability to Invest Freely http://bit.ly/9ndw9c • Are You a Benefits Consultant? Expect Mergers. Expect Acquisitions. Expect Both. http://bit.ly/9mvrCo

7. New Companies Launch • SECOR Asset Management Launched http://bit.ly/ff7Brz • Harper Danesh, Actuarial Consulting and Retirement Planning Services Firm, Launches http://bit.ly/bifZLr

8. Existing Company Growth • PwC to Grow their Pensions Area Lots http://bit.ly/gauhPK • PwC UK Hires 10, including Chris Venables, Actuary http://bit.ly/hrgbGW • Bolton Partners, Actuaries, Investment Consultants, Are Growing in Baltimore http://bit.ly/dkZxch • Mercer Plans to Grow in Belfast, Northern Ireland with 45 New Jobs http://bit.ly/cdC5uM

9. Mergers and Acquisitions • Trion benefits firm sold to Marsh http://bit.ly/hojZ8b • Stephen R Thomas Actuarial Associates sold to Bolton Partners http://bit.ly/efgVp0

10. Websites • MallowStreet is an Online Pensions Community http://bit.ly/fZQkJz

11. Personnel Moves • Jim Collins named Chief Actuary at Pension Corporation http://bit.ly/dMbpqk • CalPERS seeks CFO http://bit.ly/gTpYPz • Umar Ilyas, Head of Consultancy Relations and Investment Actuary, joins Investment Solutions http://bit.ly/i1XleX • Richard Sych, Actuary, named President of Hooker & Holcombe http://bit.ly/gLH3s5

12. Moves, Continued • Rachel Banham, Nick Bunch, Tom Durkin, Laura McMaster and Alex Whitley Promoted http://bit.ly/c253D9 • Chief Risk Officer (CRO) sought at CalPERS http://bit.ly/gL2XJz

13. Wrap Up • www.PensionRiskNews.com is regularly updated with pension risk news, trends and information • Also see www.ClaudePenland.com • Thank you!