HedgeCo.Net – Valuation and risk professional Dr. Susan M. Mangiero has launched the first blog devoted exclusively to the topic of pension financial risk and fiduciary implications. The blog(http://www.pensionriskmatters.com) will serve as a resource for trustees, board members, consultants, money managers, attorneys and regulators toexplore important ideas about pension risk issues and best practices.
According to the U.S. Department of Labor, internal “investigations have discovered a troubling lack of understanding among some fiduciaries as to what their responsibilities are.” Litigation is on the rise with the Administrative Office of the U.S. Courts reporting an increase in new Employee Retirement Income Security Act (“ERISA”) cases filed from 9,167 cases in 2000 to 11, 499 cases in 2004. Panelists at a spring 2004 conference sponsored by the Professional Liability Underwriting Society talked about the “startling” increase in ERISA fiduciary liability class actions. In November 2004, the Pension Benefit Guaranty Corporation announced a fiscal year-end deficit of $23.3 billion, more than double the amount a year earlier, due in large part to plan takeovers of companies in distress. Intense media coverage continues to shed light on funding gaps for state and city pension plans.
Not every situation is a disaster waiting to happen. There are countless decision-makers who are doing a great job but seldom have their work see the light of day. Mangiero’s blog includes commentary on these best practices, trends, research and recent articles with a primary goal of getting people to more clearly connect the pension governance dots.
Susan M. Mangiero, the blog’s author, has also penned the critically acclaimed Risk Management for Pensions, Endowments, and Foundations (John Wiley & Sons, 2005) and countless articles about risk, valuation and fiduciary implications. With over twenty years of experience in the areas of trading, risk control and valuation, she provides consulting for pension trustees, regulators, audit and compliance firms, hedge fund professionals, and attorneys. She also provides a variety of litigation support services such as rebuttal analysis, damage calculation and expert witness testimony.
Dr. Mangiero embraces the challenge of facilitating a meaningful conversation about what is arguably one of the most important topics of our time. “Waiting is not an option. Representing trillions of dollars, retirement trustees and related parties have the power to move capital markets and impact people’s lives now and for years to come.”
