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Editor’s Corner

Once again, we have put together an edition of Stable Times for your edification and enjoyment. It is always an interesting exercise for us to compile a list of articles. Sometimes we get nervous that we won't have enough to say that is topical, interesting, worthy, well-written, witty, intelligent, or just plain acceptable. Before our first organizational conference call, some of us wonder where we will get new ideas.

But we do have several important sources. The first is just the world we live in. Often business events of the day give us plenty of fodder for generating new and insightful information. We thought we were going to be able to report on new FASB conclusions about book value accounting in pooled funds, but there have been some delays in those proceedings. There apparently is some active debate about proposed disclosure requirements. Expect to see a FASB report from us next quarter.

Another source we rely on is Gina Mitchell's undying creativity in finding new things worthy of gracing our pages. A third source is the collective wisdom (such as it is) of the rest of the Stable Times editorial board. In addition to generating a list of topic ideas, we also have to come up with a suggested author. Often as not, the person bringing an idea to the table may offer to write it themselves, or find a knowledgeable source.

A challenge for us is to keep our information relevant, timely, and appropriate for our audience. We sometimes find an interest in exploring a new approach to stable value investing, but have to be careful to fairly present it without appearing to be too commercial or implying any kind of endorsement. In our zeal for impartiality we must avoid being unduly negative.

One of our strengths, at least in my opinion, is that – even though the editorial group is essentially exclusively from the “provider” community (i.e., no plan sponsors) – we have quite a few points of view. Insurance companies often view markets and risks differently from banks. Stable value investment managers often have varying investment views of attacking problems. Those from fixed income investment backgrounds offer a different perspective. Consulting firms may see things other providers don't. Gina's finger on the pulse of political climates in DC always gives us an interesting take on topics.

So we've ended up with stories about: Roth 401(k), stable value in a Social Security context, 403(b) plan, trading restrictions in plans, a glimpse of insurance company use of the EU capital markets, inflation implications for stable value, and more. We hope that offers our readers a diverse enough menu. And we promise that there will be more next time.

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