105 - Practical Aspects of Setting the Expected Return

Member Price
Non-Member Price

Speakers examine both technical and consulting challenges that arise when recommending expected return assumptions for public pension plans. They start by drilling down on some technical pitfalls, including how – and how not – to develop portfolio return statistics, mapping capital market assumptions from various sources, and even a review of the roles of arithmetic and geometric expected returns. Then speakers investigate the overlapping roles and responsibilities of the actuary and the investment consultant. How should the trustees understand differences between our often very different expected returns? And how can we work together to bring the trustees to a prudent understanding of the relationship between asset allocation and the actuary’s investment return assumption?


Mr. James J. Rizzo

Gabriel Roeder Smith & Company

Mr. Scott J. Whalen


Paul Angelo



CPD Credit: 1.50 EA Core Credit: 0.00 EA Ethics Credit: 0.00 EA Non-Core Credit: 1.50 EA Formal Credit: 1.50