In 2022 Social Security and Medicare each accounted for 21% of federal spending. Both programs face long-term financing shortfalls, and are frequently the subject of public policy discussions, although little has been done to materially address the long-term sustainability of these programs. Join the Chief Actuary from the Social Security Administration, along with other experts in these programs for a "state of the system" update and discussion of policy alternatives to improve the financial health of each program.

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The CCA’s Business Session precedes the Monday General Session with the welcoming of attendees, announcement of new directors and officers, Treasurer’s Report and presentation of the CCA’s annual awards. Our keynote presentation immediately follows. This year is a turning point in public understanding—and concern—about artificial intelligence. The rapid rise of ChatGPT and its clones has been nothing short of astonishing. And it’s been matched by an outpouring of dire predictions, from human extinction to massive unemployment. But well before we grapple with existential questions about AI, there will be more practical challenges for business and society. Social, legal and political challenges are imminent, as well as new questions about fair business practices, ethics and liability. As advanced AI grows more common in law, finance, medicine and similar critical professions, additional potential liabilities will arise. Government oversight and regulation are unlikely to keep pace. The first “rules of the road” for AI may come from industry groups seeking to self-regulate, often emphasizing disclosure and transparency. Those efforts will be driven by insurance and legal concerns. Professional services will change with the adoption of cognitive computing. White collar employment, including law and finance, will be impacted, especially among younger workers. The result will be new efficiencies and surprising intelligent services that will challenge us to identify what skills are uniquely human.

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Applying traditional defined benefit GAAP accounting rules to market-based cash balance plans produces irrational and volatile results. To address these concerns, the CCA established a working group to study these designs and prepare recommendations for alternative accounting approaches that would better represent the economics of these designs. Speakers provide an update on the findings and recommendations of the working group.

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The pension plan annuity purchase market has evolved significantly since 2012 when the GM and Verizon deals ushered in a new era in pension risk management. We've had new entrants into the market, new innovations, and new issues. The panelists in this session discuss what's new in the annuity purchase market from the insurer perspective to ensure that consultants understand how to best approach the market to optimize results for their clients.

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Non-qualified Deferred Compensation (NQDC) participants and executives face many challenges in developing effective retirement income strategies that differ in significant ways from those of rank-and-file employees. Speakers explore both the similarities and differences between the two groups and discuss tools and techniques that are most appropriate for those whose assets include NQDC accounts, including a look at the rules on distribution options under IRC Section 409A.

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Transparency around the cost of healthcare services has long been a lofty goal, and has made several headlines recently. Presenters share perspectives on transparency-related topics such as: Price comparison tools required under the Transparency in Coverage Final Rule and Consolidated Appropriations Act of 2021; Uses of transparency data despite existing data constraints; Visibility into out-of-network pricing for members, plan sponsors, and providers and impacts of the No Surprises Act; and Cost transparency in the news.

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Speakers focus on strategies that address workforce demand for flexibility, personalization and value in supplemental insurance or employee-paid benefits. Come hear carrier, consultant, and innovator perspectives on new insights and trends.

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Total rewards is one of an employer’s largest cash outlays. Is it a cost of doing business or is it an investment in the business? Senior HR leaders share their thoughts on how they maximize the value of their total rewards programs.

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In 2014 the CCA published the definitive white paper on actuarial funding policies and practices for public pension plans. The CCA Public Plans Community is currently revising the white paper to reflect practical experience with white paper model practices as well as new ASOP requirements. Panelists discuss the proposed revisions.

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A potpourri of timely and relevant topics on withdrawal liability including: update on withdrawal liability interest rate assumptions, Building & Construction Industry withdrawals, offsets from partial withdrawals against later partial and complete withdrawals, two-pool withdrawal liability structures, and relevant Form 5500 changes.

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Confidence in yourself and your work can be imperative for both success and happiness in your professional life. The Women in Consulting Community is excited to host a session at the CCA Annual Meeting on this important topic that was also the latest focus of our book club. Through our book club discussions, we found the concept of ‘confidence’, particularly with women, has many layers and everyone has something to share and learn. We hope you can join us for an engaging panel discussion to hear speakers’ personal experiences on confidence and how we can build confidence in ourselves and the women around us. All are welcome to attend this session and we look forward to providing an engaging, interactive discussion. Neither CCA nor Women in Consulting Community membership is required to attend.

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ASOP 27 has been revised to include ASOP 35, which will be retired once ASOP 27 is effective. Learn what has been changed.

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The SECURE 2.0 Act has continued the themes and reforms of the SECURE Act of 2019, which were getting more participants into the retirement system, providing participants ways to accumulate more assets and ensuring participants are connected with those assets when retirement comes. Speakers provide an overview of the key SECURE 2.0 provisions impacting DC plans, including any guidance available on such provisions and any provisions that still are in need of guidance.

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Economic trends and company-specific needs often lead to workforce changes. Retirement plans can often be used to facilitate a smooth transition for affected employees. Speakers discuss the strategic, logistical, compliance, and accounting aspects of early retirement windows and other workforce management initiatives.

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There is a myriad of innovative health care point solutions on the market today that work in tangent with a health plan. Employers and other health plan sponsors are inundated with claims about their advantages to the plan members and sponsors. This session, with panelists representing three large employers, addresses the process to identify the type of solutions that are relevant to their needs, the metrics that are important to evaluate, implementation issues, performance guarantees, methods of estimating savings, and other considerations in managing these vendors.

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Speakers highlight current topics in Medicare Advantage and Part D using an interactive format including presentations, polling, and audience participation. Topics include Medicare Advantage, Part D, and employer-sponsored Medicare plans.

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Biases. We all have them and we all deal with them in our work. Whether cognitive, social, or statistical in nature, bias creeps into actuarial work. Is bias bad, or can it be a good thing? Is it neither, and simply something for actuaries to identify, understand, and manage? How do we accomplish that? Join this interactive session as our panelists and audience discuss and debate different types of biases actuaries encounter in our work.

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Speakers explore technical aspects and implications of service purchase programs in public employee retirement systems.

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Come participate in a deep dive into pension challenges in M&A selling from diligence to execution. What are the financial and operational implications of pension plans across the world? Speakers discuss assessing accounting impact on the deal including key differences in accounting standards, assumption setting, impact of operational challenges related to pension on deal timeline and execution.

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Capital market dynamics change over time, and connect directly to return expectations. Panelists review the impact of rising and falling interest rates and stock pricing multiples on capital market models and expectations for portfolio returns.

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ERISA turns 50 next year. Whether you are under age 50 or already have passed that mark, don't let a refined knowledge of ERISA remain on your actuarial bucket list. Attend this session and start scratching that item off this year.

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Panelists discuss the issues around hedging liabilities (i.e., minimum funding, PBGC, accounting, and termination) including the different risk factors involved. They discuss the practical implementation of hedging strategies along with current challenges to hedging pension liabilities today. Panelists also discuss the role that pension actuaries can play to help facilitate a successful hedging strategy with their clients.

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With the recent rise in interest rates many plans are now looking much better funded, and may be within reach of terminating, but is that the only option? What about re-opening the plan, or are there other options altogether? Panelists discuss the pros and cons of termination, continued hibernation, and re-opening along with some ways to use any plan overfunding.

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Retiree healthcare continues to be a front page topic. Economic pressures are squeezing participant budgets and sponsors are looking to best deploy resources to meet legacy commitments effectively. In Washington, while the Inflation Reduction Act has provided a boost to benefits for all retirees, but budget hawks are beginning to reappear and talk of changes to Medicare eligibility is growing louder. Our panel covers these topics and provide a current picture of retire healthcare markets. Additionally, panelists offer thoughts on trends within these markets and identify potential opportunities for consultants to help their clients best leverage them.

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Ever wonder how your clients are reacting to legislative changes and other external influences (like COVID) on short-and long-term disability programs? Speakers discuss those topics and how paid family and medical leave are influencing the increasing disability costs.

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Captive insurance companies are a risk management tool used in healthcare, pensions, life insurance, and casualty. A panel of experienced practitioners discuss how captive are used in these businesses.

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Panelists review the Internal Revenue Code and other federal regulations that apply to public plans and their members. Recent changes, proposed legislation, and notable litigation are also addressed.

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Gain a view into a non-traditional liability duration hedging including lessons from the UK and how might pension risk managers apply these strategies in the future.

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In this Monday multiemployer tradition, panelists present opposing views of various topics where there may be no absolutely right answer, and you get to decide who's most correct.

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The nuts and bolts of the plan termination process, including small plans and nuances. PBGC input on what they want and issues they've seen will be included.

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The postretirement defined benefit plan landscape changes frequently (e.g. lump sum windows, annuity purchases, spinoffs, mergers, business combinations, plan changes, etc.). Clients look to consulting actuaries for guidance on the accounting effects of different events. Clients also look to consulting actuaries for actuarial assumption guidance. At this session, actuaries from accounting firms discuss challenges faced, how they worked with auditors, consulting actuaries, and clients; and resolution considerations based on their experiences and observations. Join us for an interactive session.

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Come learn about recent developments in the world of mortality. In this session, speakers discuss the state of mortality improvement and the interplay between experience studies, augmented mortality models, and credibility analysis. Why are experience studies important? What are some of the considerations for improvement models? And how can we incorporate this latest thinking when consulting with our clients? How can credibility analysis be used with augmented mortality models? Hear our panel of mortality experts address these issues and more in this not-to-be missed session.

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We all believe that the rise in healthcare costs is unsustainable. At the same time we also believe that the rise in costs is not translating to better overall health. In this session, panelists discuss how providers are working on improving cost, quality, patient experience, provider experience, and health equity (the quintuple aim). We also discuss how actuaries are increasingly involved in helping providers achieve these goals.

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More plans sponsors are adopting Medicare Advantage and Part D plans in their retiree health programs. What considerations should be made in projecting to costs of these programs, especially in light of the latest legislation (Inflation Reduction Act)?

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Data analytics and Artificial Intelligence are increasingly used in actuarial work. Our panelists discuss how these tools are used in everyday, practical actuarial applications.

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Some public plans allow both affiliation and disaffiliation. Why and how does this happen? What are the typical practices? Come and listen in and/or participate in an in-depth discussion of the complexities of allowing disaffiliation from public pension plans, particularly for a plan in an underfunded position.

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Gender equity is often looked at through a single lens of pay, career or leadership representation although the underlying factors that lead to gender inequities are multi-faceted. In this session, presenters look at gender wealth inequity which is an overlooked but long-standing issue affecting women. They explain what gender wealth equity is and the need for developing a multidimensional approach to elevate gender wealth equity. They also share surprising country comparisons and insights from a collaboration between WTW and the World Economic Forum that may give you a new appreciation around the need for global action. A live panel discussion brings the research and actions to life.

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The pension investment environment is continuously evolving. Speakers cover emerging views and approaches in liability-driven investing, risk transfer and the use of non-liquid alternatives. Presenters also review the pros and cons of the recently controversial ESG (environmental, social, and corporate governance) investment approach.

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Speakers discuss the latest developments in the private pension sector. Recent rulings and regulations - proposed and final - are covered in addition to pending retirement plan legislation and recent litigation activity.

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What do employees want out of their retirement program? How will employers meet these needs in the coming decade? Speakers discuss the recent SOA survey and new/emerging trends in the retirement landscape.

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Correcting administrative errors may be one of the few things more complicated than administering pension plans. Luckily the SECURE 2.0 Act of 2022 has made it a little easier. Come learn about the recent changes to the IRS Employee Plans Compliance Resolution System (EPCRS) and what it means going forward.

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Panelists provide an update on recent hot topics in pharmacy drug usage and benefits including obesity drugs, shortages of diabetic drugs, biosimilars and specialty drugs, pharma negotiations, and the uncertainty of the Inflation Reduction Act.

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The machines are coming! ChatGPT and other advanced AI and analytic technologies are becoming increasingly prevalent in today’s workplace. Learn about what these technologies do, how they are being used, how bias may impact these models, and how they will shape the future of work in actuarial consulting, healthcare and beyond.

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Consulting is a fine line to walk between understanding how to solve client problems and matching the solutions you have to offer. Sometimes the client isn't receptive to a solution that makes sense to you. Sometimes you are being asked to offer solutions or products that don't make sense to the client. During this interactive session, the audience is presented with case studies and asked to discuss the scenario and ways to deal with the tough conversations.

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Retirement benefit plan designs can influence the workforce behavior, attracting young new hires and encouraging others to retire or terminate. For example, DROPs (Deferred Retirement Option Plans) may be used to retain older employees. Early Retirement Windows (including potential coordination with Retiree Health enhancements) may incentivize older members to retire. Enhanced Defined Benefit plan provisions and/or Defined Contribution supplemental plans might attract younger people. Additionally, employers covering all or part of member contributions can be utilized as well.

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Speakers discuss a variety of HR topics to address when standing-up a carve-out of a global business to create a new company, from legal entities and employment types to challenges of replicating employee terms and conditions including compensation and benefits programs.

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Deeply troubled multiemployer plans got a helping hand with the Special Finance Assistance program. Now assistance is arriving and insolvency in plans is no longer imminent. Actuaries and investment professionals discuss investment strategies.

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Come get your 2.0 EA Ethics credits as we discuss case studies covering ethical challenges and dilemmas facing pension actuaries. Audience participation is highly encouraged.

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This interactive session covers real-life client situations where panelists have written their own case studies and share their experiences, recommendations, and make reference to ASOPs and Precepts. This session is designed to engage the audience and challenge viewpoints on professionalism and ethics. There are prizes for engagement.

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The CCA Healthcare Community meets to discuss current issues, outlooks, and news. Neither CCA nor Healthcare Community membership is required to attend.

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Come to engage in a group discussion with your fellow multiemployer practitioners on the hot topics that affect your consulting practice. While forum leaders will suggest topics, please bring your own burning questions as well.

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The Public Plans Community meets to discuss current issues, outlooks, and news. Neither CCA nor Public Plans Community membership is required to attend.

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The Smaller Actuarial Consulting Firms Community meets to discuss current issues, outlooks, and news. Neither CCA nor Smaller Actuarial Consulting Firms Community membership is required to attend.

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Expectations are a powerful force and therefore managing them is key to a consulting actuary’s success. Join the Leadership Development Community interactive workshop to learn and practice how to manage expectations to improve your success as a consultant/leader/team member/human. Neither CCA nor Leadership Development Community membership is required to attend.

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Panelists discuss issues relating to single-employer plans and PBGC that companies may face. Speakers discuss recent developments and provide practical tips and best practices for working with PBGC. Topics include standard terminations, distress and involuntary terminations, the early-warning program, 4010 filings, reportable events, 4062(e) liability, coverage, recent guidance and developments, and the Advocate.

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With SECURE 2.0 now law, what does that mean for designing DC plans? How do the SECURE 2.0 required provisions impact the rest of the design of the DC plan and what are the benefits of including the optional provisions provided under SECCURE 2.0? Panelists provide their thoughts on the answers to these questions. Features such as allowing employer contributions to be contributed as Roth, matching student loan payments, adding in-plan emerging savings accounts and more are addressed.

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Does small plan design seem like Jason seeking the golden fleece? Do these testy waters give you fear and trepidation or do they excite you with a spirit of adventure? Learn how to remove the mythology out of small plan design and construct solutions your clients will treasure!

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Come learn about trends in provider networks, negotiations and payments models, how the pandemic has impacted costs/utilization, and how inflation factors into reimbursements in both FFS and value-based arrangements. We'll also cover trends in network size and the potential for upcharging/payment innovation to make up for lost revenue during the pandemic.

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As climate change continues to dominate the social and political landscape, we examine the possible implications from a healthcare cost point of view. How will employer population risks shift as the climate evolves? What will we need to do to manage the shifting geography for tropical diseases? What, if anything, will reduce costs as certain areas of the country experience less frigid winters? Join our experts and find out.

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Words matter. This is more important than ever to manage, especially in the world of impersonal email communications and less frequent personal interactions. The speakers address the dos and don'ts of communicating with clients in a more distant work environment, and how to control your messaging to maintain a healthy working relationship.

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In December 2021, the Actuarial Standards Board (ASB) adopted a revision to Actuarial Standard of Practice (ASOP) No. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions. The revised ASOP No. 4 is effective for any actuarial report that is issued on or after February 15, 2023 and the measurement date in the actuarial report is on after February 15, 2023. The revision to ASOP No. 4 that has received the most attention in the public plan actuarial community is the required calculation and disclosure of a liability referred to by the ASOP as the “Low-Default-Risk Obligation Measure” (LDROM). However, there are other very significant revisions included in the revision to ASOP No. 4 that are worthy of discussion and scrutiny, including the calculation and disclosure of a reasonable actuarially determined contribution “reasonable ADC” and additional guidance regarding amortization methods, funding policy and contribution allocation procedures. Please join us as the speakers discuss all of the revised requirements of ASOP No. 4 – not just the elephant in the room (LDROM requirement).

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The incorporation of diversity, equity, and inclusion in corporate culture is a global movement. But how is diversity viewed globally? What approaches to increased diversity have global companies taken? What is the intersection of professionalism and DE&I? Speakers from consulting and corporate environments discuss these issues and how approaches to DE&I differ globally.

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Now that ARPA has provided a lifeline to sinking plans, presenters examine various potential approaches to enhancing the stability of multiemployer plans, and try to predict how those approaches might influence future trends. Speakers discuss both hypothetical strategies, and real world examples that illustrate how plans are proactively working to address the risks and concerns of their stakeholders.

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PBGC representatives discuss current topics and issues relevant to single and multiemployer retirement plans.

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Have you ever received a client email saying, "Fabulous actuarial report you sent. I just couldn't stop reading it." Indeed, this may seem like actuarial fantasy or science fiction. While this session will remain reality based, why not attend and discover how your reports and communications can become at least a little more intriguing.

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Small plan actuaries need to be aware of the SECURE 2.0 Act's provisions in order to help their clients comply with the new rules. Topics include closed plan rule changes, retroactive plan adoption, retroactive amendments as well as various defined benefit provision changes.

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Many of us use SOA research in our work. Learn how the SOA approaches research from inception of ideas through peer review to release of the research. Research projects currently in process will be highlighted, and two of those projects will be reviewed by their researchers. First, research on high cost members, the 5% of the population that drives 50% of total healthcare cost will be presented. Second, digital health played a huge role in transforming healthcare during COVID. This research paper summarizes the massive amounts of literature review on digital health as well as actuarial analysis on digital health’s longitudinal impact across numerous areas of the healthcare system.

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With technological advancements that make it easier to administer more complex and individualized healthcare programs, many employers are returning to models that leverage the best providers and carriers for their distinct geographic locations. Our speakers take you on a journey through the value of understanding regional issues with a stop in the land of regional carrier evaluations, and continuing on to what a program that pieces together the best aspects of each geography might look like. Join us for a great trip.

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Demography is reshaping the economic and geopolitical landscape of the 21st century. The United States, along with the rest of the developed world, is entering an era of rapid population aging. Will it also be an era of rising fiscal burdens, chronically slow economic growth, and diminished geopolitical stature? China, the world’s “factory floor’ for the past twenty-five years, is now hitting its own demographic wall. Can a demographically graying and shrinking China still be an economically and geopolitically rising China? India, which just overtook China as the world’s most population country, has more favorable demographics. But can it overcome its many economic handicaps to replace China as the engine of global growth? And what about sub-Saharan Africa, which will account for two-thirds of the growth in the world’s working-age population between now and 2050? Speakers explore the implications of these and other global demographic developments for the world economy and world order.

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This is an open forum on topics of interest to public sector actuaries. The topics are selected by session attendees and may include: funding to surplus; volatility management; impact of higher interest rates on plan design; economic assumptions including ASOP 27; and ASOP 4’s low-default-risk obligation measure (LDROM).

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Speakers address some of the key aspects of mergers and acquisitions affected by the integration of environmental and social governance in decision making.

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Financial economists have long advocated that retirement investing be done using fixed income, given that retirement commitments are generally fixed. This argument relies on a presumption that equity risk increases rather than decreases over time. But -- is this really true? Aren't economies and capital markets cyclical, with at least some reversion-to-mean tendencies? If so, how does that affect the stock vs. bond decision for funding long-term retirement commitments?

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The 2023 CCA Annual Meeting concludes with the final remarks of the CCA President, the passing of the gavel to the President Elect, and our closing general session where songwriter Jimmy Yeary leads the audience through his 5 strategies. I FEEL, YOU FEEL: Learn the art of valuable connectivity through authentically feeling what you are speaking, to create instant attraction. This is one of the most valuable leadership tools you can possess. BE AUTHENTICALLY VALUABLE: Lead effectively by meeting that intrinsic need we all have to not feel alone and make relatability one of your greatest assets for initiating powerful relationships within the workforce. SELL TO YOURSELF FIRST: Whether you are selling a product or selling yourself, this technique will enable you to see and feel the sale from the buyer’s perspective. When this is done, you can guarantee a sales pitch drenched in authenticity. and authenticity creates connectivity. YOU PAINT YOUR BACK DOOR, I’LL SEE MINE: Jimmy will show you how the most trivial details of any life can be precisely the pictures needed to create a desired connection. Through hilarious personal stories, you will see how he uses his life to make you see yours. We connect to emotion, not the specific story. Few people have lost someone in Afghanistan and also drives their truck to remember them, yet millions of people gravitated to one of Jimmy’s biggest hits, CMA song of the year, I Drive Your Truck. MONEY WON’T MAKE YOU HAPPY, BUT HAPPY WILL MAKE YOU MONEY: Learn how the power of joy can exponentially improve productivity and hear Jimmy’s techniques to tap into happiness more quickly and how to harness it and improve every aspect of your life, in and out of business.

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