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2021 CCA Annual Meeting

October 24-27, 2021
Westin Kierland Resort
Scottsdale, Arizona

 

The Conference of Consulting Actuaries is holding the 2021 CCA Annual Meeting from Sunday, October 24th through Wednesday, October 27th at the Westin Kierland Resort in Scottsdale, Arizona. Information about this meeting will be available in June of 2021.
 

Sessions:

001 - ASOP Updates
October 24, 2021 5:15 PM - 6:55 PM

Three Actuarial Standards of Practice recently became effective:

  • ASOP 27 – Selection of Economic Assumptions for Measure Pension Obligations, effective August 1, 2021;
  • ASOP 32 – Social Insurance, effective September 2, 2021; and
  • ASOP 35 – Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations, effective August 1, 2021.

Panelists at this session discuss the changes to these ASOPs and how those changes may affect your consulting practice.

Session Category
Cross Discipline
Credits
EA Core: 2.00
CPD: 1.50

002 - Business Session with Keynote Speaker
October 25, 2021 7:45 AM - 10:15 AM

The CCA’s Business Session begins with the welcoming of attendees, announcement of new directors, Treasurer’s Report and presentation of the CCA’s annual awards. The keynote presentation immediately follows.

Session Category
Cross Discipline
Credits
CPD: 1.50

101 - Late Breaking Developments
October 25, 2021 10:45 AM - 12:00 PM

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.

Session Category
Retirement
Credits
EA Core: 0.75
EA Non-Core: 0.75
CPD: 1.50

102 - Nonqualified Plans: Recent and Proposed Tax Proposals
October 25, 2021 10:45 AM - 12:00 PM

Panelists review the effect of recent tax proposals on nonqualified plans.

Session Category
Retirement
Credits
EA Non-Core: 1.50
CPD: 1.50

103 - Annuity Purchase Revolution
October 25, 2021 10:45 AM - 12:00 PM

You tell me that it's evolution; Well, you know; We all want to change the world. A lot has evolved in the pension annuity purchase market over the last few years. Speaker address some of that evolution including the increasing market size, the use of independent fiduciaries, assets-in-kind transactions, the use of reinsurance, and other issues affecting the marketplace. We’ll also briefly touch on plan termination issues, but those will be more fully covered in “Lessons Learned from Plan Terminations” (Session 401).

Session Category
Retirement
Credits
EA Core: 0.75
EA Non-Core: 0.75
CPD: 1.50

104 - PBGC Discussion of Regulatory Guidance on the American Rescue Plan Act
October 25, 2021 10:45 AM - 12:00 PM

The American Rescue Plan Act (ARPA) is arguably the most impactful piece of multiemployer legislation in recent history. ARPA set up a Special Financial Assistance program administered by the PBGC to provide substantial federal relief to deeply troubled multiemployer plans. While the intent of the legislation to provide substantial relief was clear, many details were left to the regulatory process and PBGC released interim final regulations for the Special Financial Assistance program on July 9, 2021. Representatives of the PBGC discuss the guidance in detail including the application process, the calculation of the amount of federal assistance, eligible plans, and operation and investment restrictions for plans that receive assistance.

Session Category
Multiemployer Plans
Credits
EA Core: 1.50
CPD: 1.50

105 - Practical Aspects of Setting the Expected Return
October 25, 2021 10:45 AM - 12:00 PM

Speakers examine both technical and consulting challenges that arise when recommending expected return assumptions for public pension plans. They start by drilling down on some technical pitfalls, including how – and how not – to develop portfolio return statistics, mapping capital market assumptions from various sources, and even a review of the roles of arithmetic and geometric expected returns. Then speakers investigate the overlapping roles and responsibilities of the actuary and the investment consultant. How should the trustees understand differences between our often very different expected returns? And how can we work together to bring the trustees to a prudent understanding of the relationship between asset allocation and the actuary’s investment return assumption?

Session Category
Public Plans
Credits
EA Non-Core: 1.50
CPD: 1.50

106 - Financial Vaccination for the Next Pandemic Available Through Your Captive
October 25, 2021 10:45 AM - 12:00 PM

The Covid-19 pandemic tested the robustness of corporate risk management strategies and insurance programs of virtually every company regardless of size or business sector. Many companies suddenly found themselves unprotected with unanticipated exposures or otherwise were left “holding the bag” of financial losses arising from the pandemic that had been inadequately insured.

Speakers discuss innovative uses of corporate captives to close gaps in insurance products in the market regarding risks associated with pandemics as well as trends and emerging practices in captive utilization as a central tool for enterprise risk management. Speakers focus on proactive initiatives companies need to take before the next pandemic strikes.

Session Category
International
Credits
CPD: 1.50

107 - COVID-19 and the New Workplace
October 25, 2021 10:45 AM - 12:00 PM

The pandemic and governments’ reactions to it have had a seismic impact on the workplace. Even for “knowledge workers” whose work wasn’t interrupted, travel (to the office or to client sites) was severely curtailed or eliminated, and the use of video conferencing soared. Our speakers share their views of how the workplace (both the consulting actuary’s and his/her client’s) will evolve, and whether any type of “return to normal” is possible. They’ll also discuss the variety of challenges the new workplace will pose, including managing projects and coordinating workflow, training (particularly for new hires and junior staff), achieving trust between team members, and ensuring effective communication of complex compensation and benefits concepts.

Session Category
Cross Discipline
Credits
EA Non-Core: 1.50
CPD: 1.50

108 - Pharmacy Forecasting – Not Just for Pharmacy Actuaries Anymore
October 25, 2021 10:45 AM - 12:00 PM

The pharmaceutical landscape has been changing rapidly in the last decade. More and more of the spend on pharmaceutical drugs is being shifted to the medical benefit. Oncology, gene therapy, and many of the immunomodulators are now administered in a doctor’s office. New methods of forecasting and benefit management need to be considered when looking to the future. Where will these techniques come from? In this session the presenters discuss the history of pharmacy benefit forecasting and management and the emerging techniques that require a unique combination of methodologies from other actuarial disciplines.

Session Category
Health & Welfare
Credits
CPD: 1.50

109 - Innovative Healthcare Solutions
October 25, 2021 10:45 AM - 12:00 PM

Inefficiencies, high-cost, and gaps in care in the US healthcare system have created opportunities for innovative solutions to offer value to health plans and plan sponsors. This engaging session features leading experts who have spent years developing solutions for health plans as consultants and as strategic leaders within various innovative solution providers. The panel addresses where the biggest opportunities lie to reduce cost and improve care, as well as the various types of programs that have been proven to drive results.

Session Category
Health & Welfare
Credits
CPD: 1.50

201 - Assumption Setting in a COVID-19 Environment
October 25, 2021 2:00 PM - 3:15 PM

Pension actuaries must consider how COVID-19 will affect the assumptions used in valuing pension plan obligations. Mortality is a natural assumption to start with, but the pandemic has dramatically affected the economy and workforce demographic patterns and will likely affect several assumptions. Speakers share how they are approaching this critical topic.

Session Category
Retirement
Credits
EA Core: 1.50
CPD: 1.50

202 - Dialogue with the PBGC
October 25, 2021 2:00 PM - 3:15 PM

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

Session Category
Retirement
Credits
EA Core: 1.50
CPD: 1.50

203 - Predictive Analytics and Participant Behavior
October 25, 2021 2:00 PM - 3:15 PM

Panelists address issues surrounding participant behavior and how predictive analytics can be used to identify patterns.

Session Category
Retirement
Credits
EA Non-Core: 1.50
CPD: 1.50

204 - Assessing Pension Investment Strategies in Today's Environment
October 25, 2021 2:00 PM - 3:15 PM

ARPA has changed the regulatory environment for corporate pension plans, loosening funding requirements and rules about benefit restrictions. The capital market environment has evolved in ways that few would have anticipated. Speakers review case studies that help sponsors reevaluate their funding and de-risking strategies, and showcase other new approaches emerging in the de-risking space, including the use of derivatives overlays.

Session Category
Investments
Credits
EA Non-Core: 1.50
CPD: 1.50

205 - Public Pension Data Resources
October 25, 2021 2:00 PM - 3:15 PM

What data resources are available to actuaries and how can they help? Presenters showcase their publicly available data surveys and visualization tools, as well as ongoing updates, that can help actuaries gather and communicate nationwide pension information.

Session Category
Public Plans
Credits
EA Non-Core: 1.50
CPD: 1.50

206 - DC Governance: How are Companies Managing Their DC Plans Around the World?
October 25, 2021 2:00 PM - 3:15 PM

DC plans have become the primary approach by companies to providing retirement benefits to their employees. The panel of international consultants address the current and emerging approaches multinational companies are using to manage their DC plans around the world.

Session Category
International
Credits
CPD: 1.50

207 - Cyber Risk: Understanding Business and Industry Risks
October 25, 2021 2:00 PM - 3:15 PM

Presenters explore the range of business cyber risks, their effect on the employee benefits industry, and the use of cyber risk insurance.

Session Category
Cross Discipline
Credits
CPD: 1.50

208 - Pricing and Trend Implications of COVID-19
October 25, 2021 2:00 PM - 3:15 PM

The pandemic and our response to it have sent shockwaves through the country. Economies, systems, governments, employers, and families have all felt the impact. Our health care system was not spared given its critical connection to those entities. The system reacted to massive demand reduction for many services and massive demand increase for others and the impact continues to evolve. Some of the consequences are reflected in claims experience health actuaries study every day. Our panelists offer several illustrations of the pandemic impact on things like total costs and service specific utilization patterns. Additionally, they provide opinions on the persistence of the experience changes the data has revealed.

Session Category
Health & Welfare
Credits
CPD: 1.50

301 - Fiduciary Responsibility: I am a Fiduciary Now What?
October 25, 2021 3:45 PM - 5:00 PM

Fiduciaries play a vital role in administering retirement plans, and the stakes are high, as a breach of duties can lead to personal liability. The speakers cover who is considered a plan fiduciary, the roles and responsibilities of a fiduciary, and best practices for protecting oneself in the event of a lawsuit or government audit.

Session Category
Retirement
Credits
EA Core: 1.50
CPD: 1.50

302 - EA Survivor (Function)
October 25, 2021 3:45 PM - 5:00 PM

Outwit. Outplay. Outlast. Come prepared to take on other EAs in this exciting game of EA trivia. You’ll need your HP-12C, a computer/tablet/phone with an internet connection, and lots of stamina to make it through this grueling 75-minute session of past EA exam questions. At stake is eternal EA glory to brag about for years to come (some of our past winners are still bragging).

Session Category
Retirement
Credits
EA Core: 1.50
CPD: 1.50

303 - Small Plan Overfunding (Client Communications)
October 25, 2021 3:45 PM - 5:00 PM

What methods exist to put an overfunded plan to good use for small plans? Speakers discuss the tools as well as introduce new approaches to handling current or potential overfunded situations.

Session Category
Retirement
Credits
EA Core: 1.50
CPD: 1.50

304 - Dueling Multiemployer Actuaries - New Topics!
October 25, 2021 3:45 PM - 5:00 PM

(Polling Included) Watch actuaries debate late-breaking issues affecting multiemployer actuaries. After each topic is addressed, the audience votes for the winner of each subject.

Session Category
Multiemployer Plans
Credits
EA Core: 1.50
CPD: 1.50

305 - Funding Public Pension Plans When There Isn’t Enough Cash
October 25, 2021 3:45 PM - 5:00 PM

Speakers evaluate alternatives to traditional cash contributions to fund public pension plans. They explore the public finance perspective of transferring in-kind assets, privatizing assets with public private partnerships, dedicating revenue streams and other ways of potentially capitalizing underutilized public assets to fund pensions. They also discuss Public Obligation Bonds (POBs) and how actuaries can help their clients evaluate the impact these proceeds can have on the long-term funding plan.

Session Category
Public Plans
Credits
EA Non-Core: 1.50
CPD: 1.50

306 - Impact of COVID-19 on Employee Benefits Around the World
October 25, 2021 3:45 PM - 5:00 PM

Speakers review the short- and long-term global effects on employee benefits created by COVID-19.

Session Category
International
Credits
CPD: 1.50

307 - Client Concerns RE: Marijuana Legalization
October 25, 2021 3:45 PM - 5:00 PM

While marijuana is a federally illegal substance, many states allow marijuana use for medical reasons, and some allow it recreational use. Marijuana use conflicts with zero-tolerance workplace policies and may negatively impact workplace performance and safety and workers’ health. How companies deal with these complicated issues can result in discrimination suits and negatively impact employee morale. A lawyer, a safety expert, and an actuary join forces to shed some light on this evolving topic.

Session Category
Cross Discipline
Credits
CPD: 1.50

308 - What are the Kids Learning in College and Actuarial Exams?
October 25, 2021 3:45 PM - 5:00 PM

Actuarial exams seem to be continuously changing so what do students learn taking the health track? Speakers give an overview of the health track topics and then discuss what students are learning in universities to supplement the actuarial exams. Gain a better understanding of what your new hire is capable of doing and how basic actuarial education has changed.

Session Category
Health & Welfare
Credits
CPD: 1.50

309 - Social Determinants of Health
October 25, 2021 3:45 PM - 5:00 PM

COVID-19 has shined a bright light on Social Determinants of Health (SDOH), public health and how we are all intertwined. How can we think differently about how we design and support healthcare for all? In this session, speakers discuss how organizations are looking at SDOH and incorporating it into delivering healthcare to their covered populations.

Session Category
Health & Welfare
Credits
CPD: 1.50

401 - Lessons Learned from Plan Terminations
October 26, 2021 8:00 AM - 9:40 AM

Consultants and other providers have learned numerous lessons from the increased activity around plan terminations. Speakers discuss what works and what doesn’t, along with what’s on the horizon as plan termination work continues to grow.

Session Category
Retirement
Credits
EA Core: 2.00
CPD: 2.00

402 - Accounting Challenges – What Could Possibly Go Wrong?
October 26, 2021 8:00 AM - 9:40 AM

Accounting for defined benefit pension plans presents its own challenges whether due to differences in accounting standards (IFRS, US GAAP), changes in audit procedures and standards, or client activities that occur during the year (mergers, acquisitions, curtailment, settlement, plan amendments, special termination benefits, etc.). At this session, the speakers discuss some of the questions and situations that arise requiring further consultation and provide an update on what to anticipate for the upcoming fiscal year-end disclosure season.

Session Category
Retirement
Credits
EA Non-Core: 2.00
CPD: 2.00
  • 1 . Margaret Tiller Sherwood Tiller Consulting Group Inc.
  • 2 . David T. Kausch Gabriel Roeder Smith & Company
  • 1 . Lawrence E. Scherer Findley, A Division of USI
  • 2 . Sherry S. Chan New York City Office of the Actuary
  • 3 . Philip Bonanno Grant Thornton LLP
  • 4 . Frederica Spadacenta Daniels USI Consulting Group
  • 1 . Tanya E. Sun Mercer
  • 2 . Ian G. Duncan University of California - Santa Barbara
  • 3 . Dean W. Kepraios Willis Towers Watson
  • 4 . Dale H. Yamamoto Red Quill Consulting
  • 1 . Stephen N. Eisenstein KPMG
  • 2 . Margaret S. Berger Mercer
  • 3 . Jeremy P. Olszewski Fidelity Investments
  • 4 . Representative Internal Revenue Service
  • 1 . David Scharf Buck
  • 2 . Pete J. Neuwirth CapAcuity
  • 3 . Aaron J.L. Pedowitz Mercer
  • 1 . Michael S. Clark River and Mercantile
  • 2 . Russell S. Proctor Pacific Life Insurance Co.
  • 3 . Alexandra Hyten Prudential Financial
  • 1 . Mariah Becker NCCMP
  • 2 . Representative Pension Benefit Guaranty Corp.
  • 1 . Paul Angelo Segal
  • 2 . Scott J. Whalen Verus
  • 3 . James J. Rizzo Gabriel Roeder Smith & Company
  • 1 . Wilfredo J. Gaitan Alta Actuaries and Consultants, LLC
  • 2 . Douglas J. Carey
  • 3 . Vaibhavi V. Patel
  • 1 . Stuart H. Alden Socratic Methods
  • 2 . Phillip A. Merdinger October Three