"Pension Risk Management (PRM) represents a shift from an asset-only risk focus to the practice of managing the assets and liabilities in concert, in order to minimize volatility generated by the plan's surplus risk. Because DB plans represent legacy liability on plan sponsors' balance sheets, finance personnel may utilize PRM as a means to prevent DB plan liabilities from controlling the balance sheet. [Aspects of PRM discussed in this article are:] Constructing a roadmap ... Plan design ... Funding strategies ... Investment strategies ... Settlements ... Preparations."  MORE >>