Experienced practitioners lead a review of the government responses to questions posed in the 2015 IRS Gray Book and PBGC Blue Book, highlighting the practical implications of the answers. Speakers also address any information developed since the initial release of these books at the 2015 Enrolled Actuaries Meeting.

Speakers

The outlook for the U.S. economy continues to be clouded by uncertainty. Economic policy uncertainty and the consequences of large complex legislation in the form of the Affordable Care Act (ACA) and Dodd-Frank for the labor market and financial markets weighs on a recovery that has been fitful, uneven and disappointing for over six years. How will the recovery fare in 2015 and beyond? When will the Fed finally commence interest rate hikes, what path will these increases follow and how will the economy and financial markets respond to the end of the zero interest rate policy? Will a global slowdown and a stronger dollar undercut the recovery? This entertaining session addresses these issues and reflects on the policies that have and will be implemented in the years ahead. Dr. Snaith has been noted by one business editor for his "uncanny knack to make economics not only understandable but interesting."

Speakers

A diverse panel of pension professionals discusses recent developments impacting retirement plans on the legislative, regulatory, and legal fronts. Potential topics include: 2015 legislation; IRS, DOL, Treasury and PBGC guidance; as well as recent court cases.

Speakers

The Pension Protection Act (PPA) of 2006 created a whole host of new rules for funding multiemployer defined benefit (DB) pension funds, some of which were due to “sunset” at the end of the 2014. At the same time, PPA created several paradoxes for the plan sponsors and actuaries. The Multiemployer Pension Reform Act (MPRA) of 2014 repealed the sunset and solved some of these problems while creating additional funding and compliance rules. New and relevant regulations may be released by the end of October.

Speakers

There are varying opinions on how much retirement income is enough. Why is there so much variation? How much retirement income really is needed? Do individuals need more customized advice on what their target should be? Panelists discuss creative strategies to reach targets.

Speakers

Private exchange solutions for active employees come in many flavors and sub-flavors. What do employers and their consultants look for when performing an unbiased evaluation of the different products in the market? Two consultants present their ideas, neither of which work for exchange-providing firms.

Speakers

What is the state of the ACA? Possible topics include: expectations vs. reality, enrollment, medical trends, 3 Rs, anti-selection issues, and the impact of recent court decisions. Understand how the ACA is being put into practical application. How are state-based exchanges doing vs. Federally-based exchange states? What struggles do regulators face? What is the impact on carriers? Small employers? Large employers? What challenges lie ahead for states, health plans, and employers?

Speakers

In large countries with many legacy defined benefit plans, attention is increasingly being paid to the measurement, management and mitigation of pension risk. New financial products are being introduced to meet this need. Speakers provide an overview of the need and current practice from perspectives of a plan sponsor, consultant and investment product provider.

Speakers

Presenters discuss the latest legal topics for public plans, including both recent litigation and emerging legislative actions. Topics include plan design and plan funding issues.

Speakers

2015 is shaping up to be the biggest mergers and acquisitions year in recent history. If you have worked in this area, you recognize that the first confidential call you receive on “Project XX” kicks off a series of steps that involve every aspect of your client’s plans. Speakers at this practical, interactive session address the many aspects of single-employer, private sector pension and OPEB plans with deeper dives into the benefits strategy, compliance, accounting and funding/PPA issues related to these various types of transactions. A plan sponsor also addresses these topics, and how to work with the financials of a newly spun-off company.

Speakers

As the tax structure and expectations about future corporate and individual tax rates in the US continues to change, activity in non-qualified design and liability management continues to increase as well. Hear the latest trends in design along with the financial, disclosure and compliance considerations associated with the potential plan modifications that organizations are contemplating.

Speakers

MPRA provides new tools for deeply troubled funds. Speakers provide a detailed review of these tools, along with any applicable regulations. Panelists also cover the PBGC aspects of the law including premiums, partition, and plan mergers.

Speakers

Financial wellness has become an increasingly hot topic among retirement plan sponsors. What exactly is financial wellness, how does it relate to physical health/wellness, and why should employers care? Speakers at this session discuss issues related to both content and delivery, using specific case studies.

Speakers

This workshop format features a facilitated discussion of current topics in Medicare Advantage and Part D from the consultant and health plan perspectives, and is intended for those with considerable experience in this area.

Speakers

Speakers from a variety of backgrounds offer perspectives on emerging healthcare delivery mechanisms, including narrow networks, centers of excellence, and Accountable Care Organizations (ACOs), to name a few. The mechanisms represent the current generation of tactics to deliver improved value in healthcare. Speakers provide details on these approaches and opine on their potential to improve outcomes.

Speakers

Domestic divestitures are difficult, but what happens when you expand globally to numerous markets at the same time can be extremely challenging. Speakers present a case study of their experiences in this interesting journey.

Speakers

Actuaries who are members of one of the five U.S. based actuarial organizations are subject to the Code of Professional Conduct governing ethics as well as the Actuarial Standards of Practice (ASOP) governing quality of work. The focus of this session is to discuss the implications to public plan actuaries of the following Code of Conduct requirement and the following proposed ASOPs:

• The Precept 1 requirement of the Code of Conduct “to act in a manner to fulfill the profession’s responsibility to the public;”
• Proposed Actuarial Standard of Practice on Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions;
• Proposed Actuarial Standard of Practice on Modeling; and
• Request for comments concerning the application of the Actuarial Standards of Practice in regards to actuarial valuations and other analyses used for determining public pension and other postemployment plan funding and accounting (public plan actuarial valuations).

Speakers

We all know that big data is one of the signature opportunities of the day but… what is it, and what are those opportunities? Speakers at this session begin by offering a variety of definitions and examples of big data in action. Next, speakers sketch both the technologies and analytical methodologies that enable big data to be converted from a raw material to a strategic asset. Speakers then examine the intersection of big data and the actuarial skill set by exploring current issues of big data in insurance, risk management and general corporate management initiatives.

Speakers

Come and enjoy the latest version of this popular session. Contestants strive to be the 2015 Champion of Knowledge of the details in the law and guidance of ERISA.

Speakers

At this session, PBGC representatives and practitioners actively discuss recent regulations, guidance, and court cases. Bring your questions to stimulate the discussion.

Speakers

Benefit plan sponsors are increasingly overwhelmed with concerns regarding who is a fiduciary, what their specific responsibilities are and how to assess whether these responsibilities are being prudently discharged. Since most of the 3s apply to defined benefit, defined contribution and health and welfare plans, if you advise benefit plan sponsors on fiduciary issues this session is for you!

Speakers

It has been over 10 years since the passage of Health Savings Account (HSA) legislation, and 15 years since the first Consumer-Driven Health Plan (CDHP) designs were offered. Are High Deductible Health Plans (HDHP) and CDHP designs achieving their goals of increasing financial engagement and reducing cost? What does the latest data suggest? Hear from industry experts, health plan and employer representatives as they share the most recent experience with these plans.

Speakers

The efficacy of wellness programs is devilishly difficult to measure. Do they work? How do you know? If ROI is difficult or impossible to calculate, how else can you measure success (or failure)? A panel featuring consultants and employers discusses the issue.

Speakers

How do you pay for this thing? Who has what responsibilities? Throughout the world, different rules exist for how to fund a pension plan and the responsibilities of each stakeholder. Speakers compare and contrast governance structure and funding strategies globally.

Speakers

The selection of demographic assumptions, particularly mortality assumptions for retirement systems in both the private and public sectors has attracted much commentary and controversy in the recent past. In this session, actuaries who serve public retirement systems review considerations in the selection of such assumptions that are of particular importance for public plans. They are joined by an actuary from an audit firm who provides insights into the standards they apply in helping the audit team reviewing such assumptions.

Speakers

Are you communicating complex topics with a number of points, or presenting information with mountains of data? In today’s world of information overload, having your audience understand your points quickly and easily is critical to effective communication. In this session, presenters share modern communication methods, often using pictures to tell a story. Participants leave with new ideas on how to share their story with clients.

Speakers

The speakers cover new trends and emerging ideas in pension de-risking strategies. The presenters analyze various insurance, investment, and administrative solutions currently available in the marketplace. Each solution is evaluated based on the financial/risk management implications, the participant perspective, the regulatory constraints, and the resources/time required to successfully implement. The speakers also discuss case studies that highlight how the various solutions can be applied to different plan sponsor profiles.

Speakers

Not all mergers, acquisitions, or divestitures are alike. Industry and structure of the deal play a pivotal role in what issues are important and the level of sensitivity to different factors. A diverse panel - consisting of a consulting actuary, an in-house corporate actuary, an attorney, and an M&A advisor - address these issues from their unique perspectives and roles they play as part of an M&A deal, with a focus on retirement benefits.

Speakers

How do you deal with different annuity starting dates, Qualified Domestic Relations Orders and participant elections, re-hired retirees? How do you adjust for benefits already paid, adjusting Internal Revenue Code 415 limits for prior distributions, working beyond Normal Retirement Date and adjusting benefits, adjusting benefits for Required Minimum Distributions, Internal Revenue Code 436 restrictions, Internal Revenue Code 415 limitations, and top 25 restrictions?

Speakers

At the session, learn about the distinct views on including specialty drugs in an Rx plan. Attendees hear the perspectives from an employer, a Pharmacy Benefits Manager (PBM), and a drug manufacturer on including specialty drugs in an employer-sponsored prescription drug plan. An employer discusses their views, including specialty drugs in their Rx plan, and the methods they use to control these costs. The PBM discusses methodologies utilized to manage specialty drug utilization and expenses. A drug manufacturer touches on impacts to product pricing and the value of specialty drugs in controlling overall medical costs and providing a better quality of life.

Speakers

The Excise Tax represents one of the final provisions of the Affordable Care Act to take effect. Scheduled to hit in 2018, employers are struggling to understand and prepare for its impact. Panelists offer both consultant and employer perspectives on this topic, addressing both known and unknown details of its implementation and its potential impact on plans and plan participants.

Speakers

Being ready for retirement means different things in different countries as financial products, Social Security systems and cultural influences all play an important role and vary significantly. Speakers focus on several representative countries and discuss retirement readiness and provide examples of innovative financially sound strategies and retirement products to fit local cultures.

Speakers

Come join us in yet another thought-provoking GASB discussion. Our panelists include a public plan internal actuary, a public sector consulting actuary, and an audit specialist/CPA serving on the AICPA’s State and Local Government Expert Panel. Our discussion focuses on effective approaches to employer communications, regarding public life under the new dual regime, various methods of employer allocations, and concerns experienced through the initial attempt at navigating the census data labyrinth.

Speakers

An effective total rewards strategy needs to balance:

• Cost;
• Employee value;
• Differing needs of multi-generational workforce;
• Differentiating performance; and
• Alignment of corporate strategy and maximizing shareholder value.

How do best in class (or high performing) organizations design, implement, and manage these total reward programs?

Speakers

Presenters at this session provide an overview of the DC vendor marketplace, including:

• Which DC vendors are active, which have left the business and which have merged?
• What is the relative size and operating structure of each, and what are the target markets on which they focus?
• What are the typical services DC vendors provide (for example, which DC vendors are providing DB actuarial & DB administration, annuity buyouts, etc.)?
• What are the typical protocols and practices by DC vendors regarding selling individual products and services to plan participants?
• How, as retirement program consultants and actuaries, can we work most effectively with DC vendors to bring the best results and value to our clients?

In addition, some of our nation’s top DC recordkeepers address the services they provide to plan sponsors and their participants, and discuss new innovations occurring in DC plans, what drives DC vendor pricing, new ways of communicating and educating participants, mobile applications, financial wellness and retirement planning tools, and other technology developments that are on the horizon.

Speakers

A lump sum window can reduce long-term administrative costs, offer participants new flexibility, and help de-risk the plan. Finance needs to be informed because settlements can impact the bottom line. Panelists at this session discuss the considerations in the design, communication and implementation of a lump sum window.

Speakers

As a retirement consultant, what are the special considerations you need to bring to the table for not-for-profit clients when discussing Defined Benefit Plans, Defined Contribution Plans or Executive Retirement Plans? How does industry impact the approach to providing retirement benefits with a focus on healthcare and private universities?

Speakers

In this session, attendees hear directly from representatives of the Health Economics and Outcomes Research (HEOR) area and from one or more pharmaceutical manufacturers. The panelists describe their research and models supporting the budgetary impact of new medications. This provides actuaries with a better understanding of how manufacturers think about and model the impact of new drugs coming to market.

Speakers

Back by popular demand for a third season, the critically acclaimed Healthcare Jeopardy! Come prepared to participate in one of three Jeopardy rounds. Pick a category that fits your specialty, or try something new to stretch your healthcare and actuarial knowledge. Winners will receive “valuable non-cash prizes.”

Speakers

What we take for granted in designing retirement systems in large mature countries—such as robust Social Security systems, diverse and open investment markets and high degrees of trust in future promises—just does not exist in some emerging market economies. Speakers with experience in this area, including one who works in the investment area of an insurer in an emerging market economy, discuss these challenges from a variety of perspectives and suggest paths to overcome the hurdles.

Speakers

A number of public retirement systems have implemented new plan designs that transfer significant amounts of financial risk from employers and sponsors to participants. Panelists provide an overview of approaches taken, the assessment of the potential magnitude of risk transfer that may be obtained under these approaches, and some case studies from those involved in the development and implementation of these designs.

Speakers

Currently, as many as one in four retirees may be expected to need Long Term Services and Supports at some point in their lifetime. The expenses for long-term care services can be devastating to retirees and often impact family caregivers as well, yet few individuals are prepared for the financial implications of this risk.

Presenters discuss the implications of this challenge on both a micro (individual) and macro (society/economy) level, currently available solutions and opportunities for actuaries (of all practice areas) to develop additional solutions.

Speakers

Representatives from the Actuarial Standards Board address recent revisions to Actuarial Standards of Practice (ASOPs) in the health and pension practices. Panelists also provide an explanation of modeling ASOPs and how they apply to the consulting actuary.

Speakers

Panelists discuss current methods, strategies, and best practices for scenario testing defined benefit plan assets and liabilities. The implications of a spectrum of de-risking strategies for a DB plan, including investment strategies such as Dynamic Asset Allocation (DAA) and Liability Driven Investment (LDI) as well as risk-transfer strategies such as lump sum windows and partial annuity purchases is reviewed using scenario testing results. Through the case studies, the speakers illustrate how to use deterministic approaches to communicate stochastic concepts of volatility and risk/reward trade-off. Join us to see how you can help your clients explore de-risking their plan through deterministic forecasts.

Speakers

Cash balance 401(k) combinations are increasingly the qualified retirement plan design of choice by professional service organizations. In this session, panelists discuss the rationale for the adoption of these plans, nondiscrimination design issues, and potential ongoing administration issues. Don’t miss this opportunity to stay informed about the latest trends in small plan retirement designs for the professional service sector.

Speakers

Learn about strategies to follow and pitfalls to avoid when dealing with a wide variety of PBGC issues related to defined benefit plans. Topics covered include reportable events, corporate transactions (bankruptcy, 4062(e), dividend recaps), and more.

Speakers

Speakers explore the various alternative health care settings (e.g., clinic, urgent care, telemedicine) which are beginning to supplant traditional doctor’s office and hospital settings; and the various types of professionals such as nurse practitioners who are moving into areas previously dominated by doctors.

The speakers also cover some of the history of alternative care, growth to date, and future outlook, demonstrating how alternative settings have significant potential for improved quality and reduced cost of care.

Speakers

Two key sources of recent healthcare cost trend rates are S&P and Health Care Cost Institute (HCCI). Speakers at this session focus on their respective data and how the data can be used in your day to day work.

Speakers

Not all group annuity markets are alike nor pension plans the same. There are sufficient differences in Canada’s unique group annuity market to the rest of the world. Also, the Ontario government has announced their intention to create a new public pension plan. Speakers address the various aspects of these unique opportunities.

Speakers

In October 2014, the CCA’s Public Plans Community issued a White Paper regarding Actuarial Funding Policies and Practices for Public Pension Plans. Speakers at this session provide an overview of the paper and discuss how it is being used in practice. In addition, a discussion of alternative methodologies for setting actuarially determined contribution rates for public sector pension plans, including a lively debate regarding the use of asset smoothing vs. direct rate smoothing is planned.

Speakers

How does longevity differ by groups – be it large employer, industry, or other segment of a broad population? Jim Berberian discusses some of the challenges in developing a group–specific mortality table. Elena Black discusses some of the challenges in analyzing mortality improvement rates and longevity projections. Bill Roberts discusses the different data sources available for emerging longevity improvements and the challenges in smoothing data that is volatile, especially relative to its magnitude.

Speakers

They say good things come to those who wait. For those waiting for the 2008 proposed Section 430 regulations to be finalized, the wait is over! On September 9, 2015, final Treasury regulations providing guidance on the determination of minimum required contributions under IRC Section 430 were published. Join us for an overview of what is - and is not - covered in these regulations. Our panel also delves more deeply into the key provisions of Section 430 addressed in the regulations, including:

• Standing elections to use funding balances to satisfying quarterly contribution requirements;
• Contribution allocation and ordering rules;
• Some rules for end-of-year valuations for small plans;
• Short plans years (including treatment of terminating plans);
• Liquidity shortfall requirements and their impact on the minimum required contribution; and
• Excise taxes for unpaid minimum required contributions.

Other provisions and unanswered questions are addressed during the presentation.

Speakers

Contributing employers are more aware of and concerned about their exposure to withdrawal liability under multiemployer DB funds. This is true not only as collective bargaining becomes more contentious and funds encounter more challenges in a changing labor environment amidst more volatile investment markets, but also as management considers acquisitions and divestitures while private-equity managers become involved in industries where organized labor has traditionally been strong. Panelists consist of a fund actuary to discuss these issues with a contributing employer and his consulting actuary. The speakers intend to cover the setting of reasonable actuarial assumptions and methods for assessing and setting withdrawal liability.

Speakers

Who might eventually be looking at your actuarial results? Speakers discuss how and what they review when they are brought in to assess pension actuarial reports and output. How can you put this information to work to help you in drafting your reports, letters and communications?

Speakers

Healthcare lends itself to a lot of different types of numbers, trends and analysis. What are different groups doing with the results? Speakers from retail drug stores, data aggregators and employers discuss how they use the output.

Speakers

What are risk scores and how are they used? What is the difference in risk score models and how do risk scores impact revenue? What are some ways of the ways to improve risk scores? How do risk scores relate to claims and various eligibility/populations? How are risk scores calculated and used in ACA vs. Medicaid vs. Medicare? How do you project risk scores?

Speakers

Longevity differs greatly around the world and financial products to address longevity needs vary significantly as well. Speakers address how mortality differs among economies, the implications on retirement and Social Security systems, and the development of financial products to meet varying longevity needs.

Speakers

Join your public pension plan colleagues in an open discussion of current issues facing public pension plans today. No topic is off-limits – actuarial assumptions, media coverage, risk sharing, GASB, ASOPs, rating agencies, long-term sustainability, state constitutional guarantees, municipal bankruptcy, funding policy, asset valuation methods, financial economics, and more.

Speakers

How do CFOs and Treasurers think about interest rates? How do you break down Treasury rates and corporate bond rates into components? Why are interest rates where are they now, and where are they headed? Attend this session and up your game in future discussions of interest rates for pension and healthcare plans.

Speakers

What are ethics, and how do we display them in our day-to-day professional conduct? Audience members are asked to analyze, discuss and debate their views through a series of real-world, potentially unreasonable (and even outrageous) situations that lead to various perspectives with a wide range of possible actions and outcomes.

Speakers