1. Financial Services, Regulatory, and Risk Consulting LLC Matthew Kruse, Partner
in conjunction with Quiet Light Trading LLC
January 2011

2. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

3. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

4. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

5. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

6. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

7. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

8. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

9. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

10. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

11. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

12. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

13. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

14. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

15. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

16. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

17. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

18. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

19. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

20. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

21. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

22. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

23. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

24. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

25. Section 1 Section 2 Section 3
De-Risking Glide Path Monitoring &
Reporting
Asset Liability
Management
Approach Funded Status
* Attribution
Capital Markets
Modeling
Tailor to each plan
* Open / Closed / Frozen
* Funded Status
* Duration
* Funding Policy
Risk Factors
* Assets
* Liabilities
Model Outputs
Implementation Metrics Analysis
FSR2Page 1 / 25

26. FSR2
Financial Services, Regulatory, and Risk Consulting
appreciates the opportunity to offer ALM advisory services,
in partnership with Quiet Light Trading LLC.
Feel free to contact Matthew Kruse to discuss engaging
FSR2’s services.
Matthew Kruse
FSR2 Partner
312-548-9220
mkruse@fsr-2.com
www.fsr-2.com
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