Actuaries are being challenged to do more stochastic modeling, which basically means calculating and showing a range of potential outcomes. Yet, the world always seems to just want to know “THE number.” How can actuaries effectively do both…communicate the needed and desired answer as well as illustrate the range of potential answers?

In this session presenters review language in the actuarial code of conduct language and ASOPs that govern actuarial communications and ranges of outcomes, show some examples of illustrating point estimates and ranges of outcomes, and have a robust discussion about these issues.

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It’s a proven fact that using stories to communicate your messages and ideas is the single most powerful way to connect with customers, investors and employees – and keep them connected.

Today’s corporate leaders like stories because they make their companies human. Customers like hearing stories because they build trust and make relationships human and personal. Individuals like telling stories because it makes them more interesting, amusing and popular.

StorySpeak has three main components: Talking in Color to make people sound more interesting, amusing and popular, i-kola to create unforgettable word-pictures on the fly and Story-Telling to drive emotional engagement and enhance business performance.

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Speakers discuss the latest developments in the private pension plan 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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Fiduciaries have important responsibilities under ERISA. Speakers explore fiduciary requirements and the implications of being a fiduciary.

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With Defined Contribution (DC) plans becoming an increasing source of retirement income, speakers review prevalent spend-down strategies for DC and other accumulated saving accounts. Topics include:

• Lifetime income annuities;
• Using employer contributions to purchase longevity annuities;
• What changes could be made to regulations and laws to make draw-down strategies easier; and
• Alternative draw-down approaches and sustainable spending strategies.

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Issues such as fraud, waste, and abuse contribute to significant additional spend in US healthcare for health plans and employers. Learn how leading health plans are re-organizing their operations and leveraging advanced technology to improve claim accuracy, and reduce wasteful and fraudulent spend.

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Speakers feature expanded content in the Medicare benefits area. Topics may include Medicare Advantage Part D, Medicare supplements, and retiree medical plans. The session features an interactive format with short presentations along with audience polling and discussion.

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The menace of an epidemic of poverty in the old age looms ever larger. Increase in life expectancy rates, decrease in fertility, insufficiency in current models, economics, lack of knowledge and retirement readiness, and other factors have come together to cause a global pension crisis. It is impossible to solve the problem of saving for retirement with one single policy. Speakers from global consultancies present some innovative ideas from around the world that have been implemented or discussed.

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What is the role of asset liability modeling (ALM) for public sector plans, given the disconnect to market-driven interest rates? Join us as we delve into the relationship and usefulness of ALM studies from the public plan perspective, covering aspects of asset allocation, funding policy, and plan design.

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We actuaries rely heavily on charts and graphs to tell a story. This fun and engaging session, led by a professional in the data visualization field, provides you with real-life examples of how to transform standard visuals to dramatically improve your intended message.

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The multiemployer pension system faces a dual challenge. Recent events have proven that adverse demographic and economic experience can cause plans to become unable to pay their full benefits, and at the same time many employers are unwilling to accept the financial risks of contributing to multiemployer pension plans. These challenges have led some boards of trustees to consider adopting variable annuity designs. Speakers explore the pros and cons of variable annuity plans, the design options that exist, and the legal and regulatory framework in which these plans operate.

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Whether you desire to be a leader within the profession, within your organization, or even within your teams, the Emerging Leaders Community will provide you with opportunities to gain new skills and understanding to help you achieve your goals. This community is where aspiring and established leaders come together to share their experiences in becoming actuarial leaders and discuss challenges they have faced along the way.

This lunch session features a presentation on leadership training by Jeff Kays from Buck. During this session, Jeff helps attendees understand the steps to learning, how to measure and modify your priorities, and then use these tools to benefit your team and your career. This event is sure to leave you with takeaways to implement throughout the meeting and at home.

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The attorney panelists discuss current trends in ERISA litigation and enforcement, including an overview of recent court decisions and cases challenging plan mortality tables and defined contribution fees. The panelists also discuss developments from the PBGC and DOL relating to pension plans.

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Representatives from the Pension Benefit Guaranty Corps. (PBGC) discuss current topics for single employer and multiemployer plans. Bring your questions.

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Speakers discuss the recent increase in annuity buy-in and buy-out activity, from the identification and selection of the participant group through the negotiation and selection of the annuity provider from both a plan sponsor and a fiduciary perspective. With the expectation that the annuity purchase volume will continue to accelerate in the coming years, panelists also discuss how market forces could shape the future of defined benefit plan annuity purchases.

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Are your retiree per-capita health cost assumptions in compliance with the current revision of ASOP 6 ("Measuring Retiree Group Benefits Obligations")? Speakers discuss considerations for age-specific retiree claims costs, including applications to pooled health plans and sources of data.

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Individual health status is a combination of genetics, behavior, and environment. Explore how health is influenced by factors such as where you live, your economic class, ethnicity, and education through predictive analytics. Panelists provide a general overview of the subject as well as a sample of predictive analytics project calculations.

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International Pension Plans (IPPs) are known to many but often misunderstood. Early forms of IPPs were DB in nature and often unfunded. Later IPPs established by companies are mostly DC in nature and funded. The IPP market has evolved over the past years and speakers at this session cover the reasons why companies are implementing these plans today, the current state of the IPP market, and typical plan structures.

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Actuarial Standard of Practice No. 51 discusses the “Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions.” This standard is effective for any actuarial work product with a measurement date on or after November 1, 2018, and applies to actuaries when performing the following:

• Funding valuation of a pension plan;
• Pricing valuation of a proposed pension plan change that would, in the actuary’s professional judgment, significantly change the types or levels of risks of the pension plan; and
• Risk assessment that is not part of a funding valuation or pricing valuation.

Given this timing and scope, it is likely that we have some actual (albeit early) experience with compliance with this standard. Speakers at this session discuss their early experience complying with ASOP 51, including:

• Are plans disclosing quantitative or qualitative information or both?
• Are plans actually using these measurements or merely disclosing them?
• Are the plan sponsors interested in this information?
• Does anyone really care about this information, or is it too early to tell?

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Predictive analytics has been here for some time. How is HR building out its people analytics function to use in deployment, upskilling, and retention of talent?

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The speakers identify and describe a range of fundamental concepts related to asset classes and portfolio construction. Panelists present sample solutions to common corporate pension investment situations and discuss the methods for creating the portfolios. Traditional and LDI-oriented approaches for portfolio construction are contrasted and the special characteristics of the assets included are explained.

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This session tests your EA knowledge in a fun, entertaining, and competitive environment. Bring your calculator (HP-12C preferred) and smartphone/tablet to participate. Top finishers receive prizes.

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Speakers at this session cover the practical aspects of valuing retirement benefits payable as lump sums (or lump sum equivalents), including the implications of the recent practice note published by the American Academy of Actuaries. Panelists cover both accounting and funding topics, and address several strategies including annuity substitution, discount rate selection, lump sum interest rate estimation and mark-to-market accounting.

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Speakers address the special retirement consulting considerations when working with not-for-profit entities such as hospitals, universities, foundations, and charities.

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Speakers address the opportunities and risks associated with implementing an Association Health Plan (AHP) strategy. Opportunities exist to differentiate the offerings through benefit design, pricing, funding, and innovative solutions not typically available under ACA small group plans.

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The speakers address questions about what is new with prescription drugs. Topics include:

• How is the opioid crisis affecting costs?
• What is the latest vendor landscape?
• What is the outlook for drug trends?
• How is emerging gene therapy affecting prescription drugs?
• What is happening with point-of-sale rebates and how they are handled with stop loss and in high-deductible health plans?
• What is the provider perspective on these issues?

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How are businesses competing today from an employee well-being perspective? An expert consultant and an employer provide their unique points of view on the challenges and how to manage them while reviewing global trends in employee total rewards and the impact of employee health and well-being on business productivity.

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Our expert speakers discuss legal and legislative trends, issues, and challenges affecting public retirement plans around the country.

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Occasionally, our work as consulting actuaries results in delivering a definitive answer to a question. But more often than not we find ourselves in a gray area where our response is, "It depends." Speakers highlight some of the tools we use - either consciously or subconsciously - to help with our problem solving. Those tools include back testing, benchmarking, and ROI analysis.

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The PBGC has been busy on our behalf. This past February, PBGC published proposed regulations concerning withdrawal liability, and on May 2 it published final regulations concerning terminated and insolvent multiemployer funds and duties of plan sponsors. Come join us in exploring the potential impact of the proposed regulation on the calculation of withdrawal liability and the relevant payments, and the final regulations for how we can learn to guide affected plan sponsors through their responsibilities.

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Correctly administering a pension plan requires being versed in a wealth of potential topics and issues. The speakers address some of the stickier items. Potential topics include Suspension of Benefits Notices, Required Minimum Distributions, Multiple Annuity Start Dates, Automatic IRS Rollovers, Missing Participants, and the EPCRS Corrections Program.

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Want to know more about some of the challenges with retiree medical plan valuations, options for funding retiree medical plans and testing health and welfare benefits for discrimination? Join our panelists as they discuss these very topics. Specific items include:

• A review of assumptions specific to retiree medical plan valuations - such as draw-down assumptions for account-based plans and reconciling pre-65 expected benefit payouts;
• Funding retiree medical plans through VEBA trusts, 401(h) accounts, and 420 transfers as well as how to determine the maximum tax-deductible contribution; and
• A primer on testing health and welfare benefits under sections 105(h), 125, and 129.

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There is more to M&A than just financial issues. Some of the biggest challenges relate to employee benefit matters. At this session, speakers discuss identifying HR and benefit issues, planning for transition, and implementation. Topics may include 401(k) and other Defined Contribution plans, Defined Benefit, HR and payroll systems, health and welfare, compensation, and communications.

Final allocation of EA credit depends on the actual content of the session.

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Consulting firms have been using discount analysis to evaluate carrier networks for the last 15 years. Experimentation with total cost of care has been explored over the last 10 years. What are the concerns with these measures and what are other possible measures?

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Panelists provide approaches to evaluating innovative healthcare vendors, sharing actuarial and non-actuarial consulting perspectives as well as those of plan sponsors. Evaluation frameworks detail practical approaches to assess and traverse the following:

• Relevant and viable solutions within the vendor landscape;
• Savings estimates -- self-reported, externally developed, and otherwise;
• Target outcomes for both well-established and cutting-edge solutions;
• Consensus on performance guarantees;
• Program implementation; and
• Definition and measurement of success.

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The panel of speakers discuss opportunities, financial risks and mitigation strategies involved in U.S. pension fund investment in non-U.S. assets. The principal legal and operational constraints are reviewed.

The panel additionally addresses exposure of U.S.-listed companies in non-U.S. sourced revenue and profits, and their potential impact on pension funds.

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Panelists review a recent SOA paper on the effectiveness of historical plan contributions, and follow with a discussion/survey on current practices and potential changes. Perspectives on model funding practices from an actuarial and public finance point of view are exchanged.

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Organizations are moving beyond total rewards to total well being: physical, financial, emotional, social, and more. Learn how forward-thinking organizations are working to enhance the employee experience through a more holistic approach that extends from programs and policies to company culture utilizing traditional and non-traditional approaches to their offerings.

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The Pension Protection Act (PPA) and Multiemployer Pension Reform Act (MPRA) made significant changes in the funding, administration, withdrawal liability collection, and communication of multiemployer plans. Speakers at this session discuss the strengths, weaknesses, and efficacy of these changes. A basic knowledge of PPA and MPRA is assumed.

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Come to one of the best sessions on plan terminations you’ve ever attended, as it does NOT dwell on the grim and gory details of plan termination. Rather, the speakers address the various plan termination steps and discuss strategies for ensuring that the process goes smoothly. This includes looking at cases that didn’t go as smooth and what could have (and should have) been done to prevent the difficulties that were encountered.

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Retirement programs can trigger excise taxes: contributing too much or too little, late or non-payment of benefits, prohibited transactions, reversions and more. What are excise taxes and how are they different from fines and penalties? Presenters provide an overview highlighting some of the many ways that excise taxes apply to retirement programs, but with a primary focus on defined benefit pension plans. The panelists uncover the secrets of excise taxes, explain how they work, when you should avoid them (and when you shouldn’t), and how they should be reported. No excise taxes are assessed for attending this session!

Final allocation of EA credit depends on the actual content of the session.

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Speakers discuss the latest issues in pension accounting, including a deep dive on best estimate concepts, selection of key assumptions, considerations for accounting methods vs. actuarial techniques, new disclosure rules, subsequent events, and common accounting issues related to de-risking.

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How do efficiency, effectiveness, value, and behavior impact the delivery and consumption of healthcare? Speakers discuss drivers of healthcare trend and how we can mitigate it in both the short and long term.

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Speakers cover emerging topics related to the Affordable Care Act including small group Administrative Services Only arrangements, expanded short-term coverage, and potential legislative changes resulting from expected Supreme Court decisions.

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Our panelists discuss two international topics in 100 minutes. Talent mobility and rewards intersect at a sweet spot where organizations can differentiate themselves. Retirement plans are viewed as important rewards for US talent. Speakers address challenges related to qualified and non-qualified retirement plans for US mobile talent and solutions companies are implementing.

The speakers also discuss how clients measure “success” in a M&A transaction. Recent case studies are featured to highlight benefits transition, employee engagement, and the overall impact to the business related to people-related topics.

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Public sector pension plan design continues to generate significant public policy debate. Panelists present recent developments in plan design within the DB and DC continuum. Speakers include new voices from think tanks active in this debate, including policy directors at the Pew Charitable Trusts, the Reason Foundation, and the National Institute for Retirement Security (NIRS).

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This is the hands-on data analytics session that shows you how to actually do it! Presenters at this session show you how to get started with R, one of the main data analytics software packages. Expect some prep work in advance of this session to ensure that your laptop is ready to go.

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The asset-liability space yields a never-ending stream of acronyms and marketing labels, but underlying all of them are a few basic truths. Retirement plan cash flows have characteristics similar to those of long-term bonds. This characteristic, along with the fact that pension funds are typically held for the long term, give pension plans critical advantages over other types of investors. They can invest in higher-yielding long duration assets, some virtually without risk, and hold them for long periods of time through numerous market cycles. Of course, different plan designs and varying maturity levels add wrinkles in terms of the particular risk-reward tradeoffs faced by any given plan, and different regulatory schemes can act to accentuate or obfuscate the capital market connections. Three actuaries with long experience in asset-liability management provide viewpoints on each of these issues.

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In this participatory session, the speakers use case studies to guide an audience discussion of some of the ethical dilemmas and challenges that actuaries face every day, and identify possible alternatives for handling these challenges.

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Speakers at this session provide case studies of what would be considered ethical vs. not ethical from an actuarial perspective. They also cover the Code of Professional Conduct, professionalism, and standards for appropriate actuarial practice. Scenarios and polling are used to make this an interactive experience.

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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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Not all executive benefit arrangements are alike. Industry and organizational structure play a pivotal role on both the type and level of benefits provided, as well as the terms and provisions of these programs. Speakers review executive benefits basics, address the industry and organizational differences, look at market prevalence and current trends, and discuss some of the hot topic issues in the world of executive benefits.

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The PPA of 2006 funding rules have been significantly alleviated by funding relief under MAP-21, HATFA, and BBA. The funding relief will gradually expire beginning in 2021. Speakers explore the implications of the expiration of funding relief and strategies for using credit balances effectively.

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We have recently seen a change in workforce demographics, an increase in retirement ages, and a change in how retirement benefits are provided. Speakers discuss these changes, along with the provisions of recent regulatory changes such as the 2018 Department of Labor's regulations on Multiple Employer Plans (MEPs) and the Secure Act and Retirement Enhancement and Savings Act of 2019 (RESA) bills and how this may impact the future of retirement benefits.

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It’s been said that “All Healthcare is Local.” In this session, we take a deeper dive into that favorite quote by examining health care delivery at the local level. How do regional carriers leverage their local relationships to drive down cost and increase quality? What happens to a community when two local hospitals merge? What is the industry doing to navigate the complexities of clients with national footprints when local networks are what drive savings and quality? Join us for an exciting and interactive discussion that combines thought leadership from consultants, carriers and the world of academia.

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The Society of Actuaries and the Kaiser Family Foundation have partnered to create Initiative 18|11 which addresses the rising cost of healthcare in the US. So... What can we do, how do we do it, and when can it be done? Panelists share the insights of the paper involved with this initiative.

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The U.K. defined benefit market is one of the most complex and advanced around the world and is often viewed as the trend setter in the global defined benefit marketplace. Our panelists cover some of the latest events which impact the U.K. pension market including the changing regulatory environment and the development of new plan consolidation offerings, all aimed at efficient delivery of pension promises in the decades to come. Speakers also address difficult challenges such as the equalization of Guaranteed Minimum Pensions for men and women, and the implications of Brexit. In considering all of this, they discuss potential future implications and opportunities for the U.S. pension market.

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Now that they have been released, how have the Pub-2010 public retirement plans mortality tables affected practice? Speakers examine impacts on liabilities and contributions, consideration of the fit of the tables vs. experience, and administrative issues such as service purchase and options factors.

Final allocation of EA credit depends on the actual content of the session.

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The U.S. economy is in a long recovery. At some point a recession will come and inevitably so will bankruptcies. How do consulting actuaries help their clients through bankruptcies with respect to pension and healthcare plans?

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Plan actuaries sometimes find themselves as the first line of defense in both the detection and correction of fund administrative issues that may not even be actuarial in nature. Session presenters discuss selected issues such as late retirements, suspension of benefits, missing terminated vested participants, and withdrawal liability data.

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Now that ASOP 51 is in effect, what are single employer private plan actuaries doing? Panelists discuss which deliverables are subject to the standard, various ways of assessing the applicable risks, and initial reactions from clients.

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Speakers discuss small plan consulting subjects including plan design, nondiscrimination testing, plan terminations, plan document drafting, excise taxes, and fiduciary issues.

Final allocation of EA credit depends on the actual content of the session.

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Panelists provide an overview of the rules related to non-qualified deferred compensation, focusing on the practical and operational aspects of IRC section 409A, including case studies.

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Unit cost change continues to drive health care cost trend. However, successful financial plan management must not only address the upward shift of the claims curve, but also its continued reshaping toward the catastrophic tail. Our diverse panel examines prevention and management of high-cost claims from the actuarial, clinical, and pharmaceutical points of view.

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Direct contracts between employers and providers can provide many advantages for both parties, although size, geographical concentration, and financial sophistication are generally needed to long-term success. Come hear employer and provider representatives discuss key contracting considerations including data analysis, bundling, and risk sharing.

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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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Join your public retirement plan colleagues in a candid, open discussion of current issues. Actual session topics are determined by the attendees, but may include economic assumptions, IRiDiaM, funding policy, municipal bankruptcy, risk mitigation, GASB 74/75, and working with auditors.

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In this session, a panel of actuaries who are applying their actuarial skills in new areas detail how they got to where they are with their actuarial training, how they saw opportunities in new areas, and the challenges of the transition to what they are doing now.

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Why did the 75-year solution implemented with the 1983 Social Security reform only last 50 years? Panelists provide an overview of the Social Security program’s current financial position along with near- and long-term projections, and identify the most critical economic and demographic drivers of the program’s financial well being. Key assumptions relied on in making these projections are identified, along with the methodology used in selecting them. The handling of the program’s $3 trillion trust fund is also covered, as well as alternative scenarios where trust fund assets would be invested in a diversified investment portfolio rather than in Treasury bonds.

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The “Blockchain” can disrupt the way we do business, just as the Internet, the PC, and television did in past decades. Former White House Director of Economic Policy Todd Buchholz, author of Market Shock and New Ideas from Dead CEOs, tackles the startling implications of blockchain technology, and the cryptocurrencies that employ it, including Bitcoin. His writing on technology and the economy have been praised in the Wall Street Journal, on ABC News, and on the BBC. In Fall 2018, Todd was the keynote speaker at Blockchain Nation, one of the premier events in the industry. As finance, tech, and supply-chain firms from Bank of America and Mastercard to UPS, IBM and Apple rush to file patents, Todd explains where the blockchain revolution and cryptocurrencies are going and what your company needs to know.

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