Case study: Immunizing liabilities with the Milliman Daily Funded Status model By Bret Linton | 24 May 2013 The challenge A Milliman client was interested in gradually immunizing its liabilities over an extended period of time as the funded status its pension plan improved. The goal was to immunize liabilities on an accounting basis and be able to make investment decisions on a daily basis, based on the daily funded status of its pension plan. This was accomplished with a Milliman tool and in conjunction with a “glide path” investment approach established by our client and its investment consultant. A “glide path” investment approach moves assets into fixed income in favorable market conditions and as the plan becomes better funded. It maintains a good balance of retaining equity investmen

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