Experienced practitioners involved in developing the PBGC Blue Book questions lead a review of the 2016 questions and answers. In addition, while the Gray Book has been discontinued, questions about IRC issues were collected recently, and these questions were reviewed by the practitioners involved in developing previous Gray Books. Speakers discuss these questions and potential responses. Repeated at Session 301.

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Insurance and actuarial science have always been data-driven fields, and actuaries can claim with some legitimacy to be the business world’s original data scientists. Actuarial science has been rated the #1 profession by Forbes magazine in two of the last five years, and Harvard Business Review recently proclaimed data scientist to be the sexiest job of the 21st century. Today, the explosion of data about virtually all aspects of our lives moves data science from a narrow technical specialty to a force capable of fundamentally shifting business and societal landscapes. The best and sexiest are becoming one.

Our speakers present a framework for better understanding different varieties of data science and “big data”, and discuss the resulting opportunities for – and threats to – the insurance industry and the actuarial profession. The presenters then focus specifically on actuaries' use of predictive analytics, including relevance to our profession, an overview of the modeling process, and common challenges and considerations in delivering effective and impactful predictive analytics solutions. Real-life examples of data discoveries and relationships are shared throughout the presentation.

* http://www.forbes.com/pictures/mkl45ejejl/1-actuary/#33e724c86f09 and http://www.forbes.com/pictures/efkk45eifhm/no-1-best-job-actuary/#70448ae73e62

** https://hbr.org/2012/10/data-scientist-the-sexiest-job-of-the-21st-century/

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A diverse panel of pension professionals discuss recent developments impacting retirement plans on the legislative, regulatory, and legal fronts. Potential topics include: 2016 legislation, IRS, DOL, Treasury and PBGC guidance; as well as recent court cases.

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Should your client do an annuity buyout and should it be for the entire plan or a portion? What are the considerations in selecting an insurer including satisfying plan sponsor fiduciary responsibilities, and what steps should the client take to transfer the risk?

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The combination of 409A, PPA, and the Fiscal Cliff Deal changed nonqualified design. What remains the same are the growing liabilities of nonqualified plans. Join our panel to discuss strategies for mitigating liability risk with existing plans through funding options and considerations when terminating nonqualified plans, including what might replace nonqualified plans, such as other compensation/equity?

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Unlike much of the private sector, the U.S. federal government continues to provide health insurance coverage to its retirees. Actuaries for two of the largest such programs provide the history and background, including the forces and constituencies that shape the plans; discuss plan designs and funded status; and describe how the plans are reflected (or not reflected) on the federal books. They also describe some of the interesting and unusual actuarial aspects of the programs, including valuation methods, data gathering challenges, experience studies and other analysis techniques that are useful with plans of this size.

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Genome technology has been around for years so is it something that actuaries should account for in their pricing of plans? Speakers at this session explore the potential costs and outcome of wide-spread use of genome-related medicine.

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With its large and mature defined benefit pension landscape, the UK has always been at the forefront of identifying and managing longevity risk. This trend continues with innovations in both these areas and speakers at this session provide insight into areas such as how plans are measuring life expectancy, the increasing popularity of longevity hedging and a growing trend of bulk annuity providers using medical underwriting data in pricings.

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A panel of experts review current legislative and legal matters related to public retirement systems.

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M&A is rarely done well. Major issues and liabilities can be missed and opportunities to reduce costs are overlooked. Speakers at this session review best practices to follow to help avoid potential pitfalls.

Note that the allocation between EA Core and Noncore credit depends on the actual content of the session.

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At this session, representatives from the PBGC discuss single employer and multiemployer plan issues of concern to actuarial practitioners. Please bring your questions to participate in a vibrant conversation.

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It's been over eight years since PPA took effect, and we still have minimal guidance on plan mergers and spinoffs. Session panelists discuss their approaches and experiences with plan mergers and spinoffs under PPA, including what might, and might not, work.

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Panelists cover the basic tenets of holistic financial wellness and the challenges that arise when non-traditional Retirement Income Generators (RIGs) are considered, including Reverse Mortgages, Whole Life Insurance Policies and Planned Gifts (Charitable Gift Annuities). Various RIGs are discussed as well as their associated retirement modeling challenges, covering a surprisingly wide range of economic profiles.

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How "big data" is, or should be, transforming healthcare consulting. What are the prime opportunities? What are the latest techniques in developing valuable insights from structured and unstructured data? Who is using it and how? What is the future of its application to the actuaries’ work?

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

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Employee participants can work for multiple employers throughout their careers and every dollar of contributions made on their behalf can be attached to vastly different benefit provisions. With recent complications such as contribution surcharges and reductions to adjustable benefits, there are a million ways to get these calculations wrong. Panelists discuss these cautions and concerns with a real fund administrator.

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Join us for an enlightening session at which experts discuss how public sector retirement systems have sought to identify and curb risk. The speakers at this session focus upon the use of stochastic and dynamic modeling to assess risks associated with volatility of investment returns, plan design features, and other elements of plan experience.

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Fixed income managers are often frustrated by their inability to closely track the liability measurements made by actuaries. Are there structural impediments that make this almost impossible to do? Panelists identify the obstacles and options for overcoming them.

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Experienced practitioners involved in developing the PBGC Blue Book questions lead a review of the 2016 questions and answers. In addition, while the Gray Book has been discontinued, questions about IRC issues were collected recently, and these questions were reviewed by the practitioners involved in developing previous Gray Books. Speakers discuss these questions and potential responses. Repeat of Session 001.

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Defined Contribution plans have emerged as a central component of retirement plan design for many U.S. companies. Speakers in this session explore design and delivery approaches at a few specific organizations, in search for solutions that are truly “world class.” The panel includes a representative from PLANSPONSOR Magazine’s Plan Sponsor of the Year [in the largest corporate 401(k) plan category]. The discussion covers topics such as:

• Pre-tax, after-tax and Roth contributions;
• The potential role for Health Savings Accounts (HSAs);
• Automation (enrollment, savings rate escalation, investments);
• Investment structure, and alternatives;
• Re-enrollment (investments and savings rates);
• Matching and non-matching employer contributions;
• Investment help, guidance, and advice;
• Education and communication campaigns;
• Success metrics; and
• Lifetime income solutions.

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ERISA has practically the same lingo requesting best-estimate assumptions for both long-term funding and withdrawal liability, yet many actuaries use different assumptions for these two measurements. Panelists discuss relevant rationales and judicial rulings to shed light on the various approaches in practice.

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The excise tax on high cost health plans has been deferred two years. Speakers at this session discuss the excise tax, methods of reducing the impact of the tax such as age-gender adjustments, implementing low cost CDHP plans, etc. What impact could the upcoming election have on this tax?

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Employers have just about exhausted traditional options for containing healthcare costs through plan design, contribution strategy, and eligibility policy. Often those approaches did little to improve outcomes, and may have had the opposite result. Many non-traditional ways of reducing healthcare costs while improving quality and outcomes are currently being introduced. The speakers explore two of the more promising non-traditional approaches and what they have, or hope to, achieve:

• Member-centric Navigation: Trust partnerships lower cost and improve outcomes (with case study of engagement and financial results); and
• Retiree Health: House calls and other new approaches to group Medicare Advantage.

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The primary issue related to financial impact on M&A deals is employment transition related to severance, minimum provided government benefits, and accounting implications. Speakers address how these topics ultimately lead to the success or failure of a deal.

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Come join our speakers as they discuss the impending implementation of recently adopted GASB Statement Nos. 74 and 75, drawing on lessons already being learned from GASB 67 and 68. The panelists explore how users of the new financial statements — including municipal bond credit analysts — are already reacting to the newly highlighted debt burdens for pension obligations that are now incorporated into state and local employers’ balance sheets. Also to be discussed is the anticipated impact of the additional debt burden on municipalities caused by the similar balance sheet treatment of OPEB obligations under the reporting requirements of GASB 74 and 75.

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Learn about the science of persuasion, and how to avoid hidden traps in decision making, to maximize your opportunities as consultants and actuaries. Shared through the lenses of both proven research and real-life tales from a casino operator, learn how to use the knowledge of our brains’ predictable irrationality to turn clients into “whales” and “Georges,” and optimize internal tactics for the benefit of their own “houses.”

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Analysis of the recently adopted PPA standard mortality tables for 2017 and the impact on plan funding and lump sums. Discussion of new guidance on adjusting PPA standard mortality tables to reflect plan experience.

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Learn about pitfalls to avoid and strategies to follow when dealing with a wide variety of PBGC issues, including those involving:

• Premium filings and related audits;
• Standard terminations and related audits;
• PBGC reporting requirements;
• Missed contributions and related liens;
• 4062(e) downsizing liability;
• Early Warning Program negotiations;
• Distress and involuntary terminations;
• Guaranteed benefits; and
• Bankruptcy claims and disputes.

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Accounting for pension plans keeps evolving. At this session, practitioners discuss accounting issues that may include cash balance plans, lump sum valuation, alternative discount rate approach, disclosure changes, and assumption timing.

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Join our experts from across the active employee exchange world as we discuss the ever-evolving state of private exchanges, with an eye towards defined contribution and expanding benefit options using voluntary and ancillary products. Panelists also discuss the ongoing rocky relationship with public marketplaces in 2017 and beyond.

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The fee-for-service payment model of paying healthcare providers is still the dominant payment system. However, other models have emerged such as: providers taking risk; value-based insurance designs; Medicaid/Medicare waivers; Accountable Care Organizations (ACOs); shared savings; and health homes. The panelists focus on how these models work as well as whether or not they are working.

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With increased globalization, U.S. actuaries are challenged to maintain an appropriate level of awareness of issues related to: (1) practicing outside the United States, (2) practice related to non-U.S. plans, and (3) engaging foreign actuaries in support of global projects on behalf of a U.S. client.

Around the world, actuarial associations have their own codes of conduct, qualification standards, practice standards, and discipline processes. On top of that, cross-border agreements and memoranda of understanding abound.

What’s a U.S. actuary to do? Fair warning: there is no definitive rule book or road map through the maze of codes, standards, and agreements. Nevertheless, our panel of international experts provide context for building an understanding of some of the most prevalent cross-border practice issues.

Note that the allocation between EA Core and Noncore credit depends on the actual content of the session.

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U.S. pension reform is becoming more and more necessary as plan sponsors of public retirement plans wrestle with the risk related to expanding unfunded liabilities and/or future sustainability, while trying to meet certain benefit and human resources objectives. Join our speakers as they take a closer look at recent public pension design proposals; those which have been successfully implemented (Utah RS), those recently adopted (SDRS), those which have not had success (DeMaio/Reed), and those still being considered.

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Speakers provide an analysis of the proposals from Presidential hopefuls for tax reform, budget reconciliation, and long-term deficit reduction while assessing the implications for plan sponsors and individual benefits.

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Speakers address recent developments in the design, accounting and funding for market-based cash balance plans.

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Speakers discuss the process of moving through the various stages of a plan's life as it is prepared for eventual termination, including the PBGC implications.

Note that the allocation between EA Core and Noncore credit depends on the actual content of the session.

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Our panelists discuss real-time activity including Treasury regulations and decision on the Central States application to suspend benefits, other applications submitted, one withdrawn, other news on the regulatory and legislative fronts, what different boards of trustees are thinking about, whether it's worthwhile to submit an application or take a wait-and-see approach, what other alternatives MPRA offers, and how PBGC’s looming insolvency factors into all of this, including premium increases and their effect on the system at large.

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With less than two weeks until America votes, our speakers examine the potential impact of the election results on healthcare. Will Obamacare survive? If so, how will it change? Our presenters bring a variety of viewpoints from employers, providers, and insurers. Cost, access, quality are all on the table. Come join our discussion. It will be... HUUUUUGE!!!!!

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In recent years, new competitors have emerged in the health plan and health technology space. Participants at this session review some of these innovative new companies.

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Global pressures for cost-containment and financial efficiency, along with recent favorable rulings in the USA on the use of captives for financing employee benefits are generating impetus on captive initiatives among multinationals. Speakers explain the basics of a captive, describe challenges and opportunities in financing all risk types (life, disability, medical and pension). While the focus of this session is on the international applications, there is a USA update. Case studies are presented by corporate benefit directors of well-known global companies.

Note that some EA Noncore credit may be added depending on the actual content of the session.

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The panelists at this session focus on the challenges, as well as the opportunities, created by an aging society. Discussion topics include:

• The impact of rising old age dependency costs on national retirement policy;
• Alternate views of retirement and retirement ages necessitated by an aging society; and
• The impact of improving mortality on public retirement systems and ways to manage the costs.

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Many companies provide health and wellness programs focused on physical and emotional wellbeing. Recent research indicates that an individual’s financial wellbeing is correlated to physical health and overall stress. The speakers at this session discuss some of the research done in this area, and provide insights into the development of a total wellness program, one that integrates all three components into a holistic wellbeing offering.

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How are the Actuarial Standards of Practice (ASOPs) part of our professional life? After a presentation from representatives from the Actuarial Standards Board on recent revisions to the ASOPs in the health and pension practices, we illustrate how these standards affect our profession through a series of case studies with audience discussion.

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The CCA’s communities and special interest groups (SIGs) each hold an annual networking forum to allow these year-round communities the opportunity to meet face-to-face. Feel free to stop by, meet, and discuss current issues, news, and outlooks. Community/SIG membership is not required at these events.

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The CCA’s communities and special interest groups (SIGs) each hold an annual networking forum to allow these year-round communities the opportunity to meet face-to-face. Feel free to stop by, meet, and discuss current issues, news, and outlooks. Community/SIG membership is not required at these events.

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The CCA’s communities and special interest groups (SIGs) each hold an annual networking forum to allow these year-round communities the opportunity to meet face-to-face. Feel free to stop by, meet, and discuss current issues, news, and outlooks. Community/SIG membership is not required at these events.

Speakers

The CCA’s communities and special interest groups (SIGs) each hold an annual networking forum to allow these year-round communities the opportunity to meet face-to-face. Feel free to stop by, meet, and discuss current issues, news, and outlooks. Community/SIG membership is not required at these events.

Speakers

The CCA’s communities and special interest groups (SIGs) each hold an annual networking forum to allow these year-round communities the opportunity to meet face-to-face. Feel free to stop by, meet, and discuss current issues, news, and outlooks. Community/SIG membership is not required at these events.

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Understand how the IRS Proposed Regulations provide relief for closed pension plans. Speakers at this session also cover helpful changes to the "cross-testing" rules that make it easier for all plans to test on a benefits basis.

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Is your client a government contractor that is subject to the Cost Accounting Standards (CAS)? If so, their pension, post-retirement benefit and deferred compensation programs are subject to reimbursement rules that differ from ERISA and GAAP. Unfortunately, there is far less formal CAS guidance, so the panelists provide background on the rules and discuss several of the open issues and pitfalls.

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The prevalence of DC plans as the primary retirement savings vehicle for employees is unquestionable. Attention needs to be given to ensure that these plans deliver the maximum efficiency and effectiveness in successful retirement outcomes. Panelists explore characteristics of successful DC plans surrounding participation, contributions, investment management, and benefit payouts.

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After a recent period of modest healthcare cost trends, employers and plans are faced with the potential of a period of sustained cost increases. Speakers at this session address the forces pushing costs up over the next several years for hospitals, physicians and prescription drugs.

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It's one thing when a contributing employer or two negotiates "out" of a multiemployer DB plan, but what happens when substantially all employers withdraw? Our panel addresses the additional actuarial calculations and administrative tasks required by the plan sponsor. Prerequisite knowledge of basic withdrawal liability is strongly suggested.

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Social security and healthcare systems differ greatly from country to country. What are the different themes? How do cultural differences influence design, delivery and funding? Speakers review how various models are used in different developed and developing countries.

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For 10 years actuaries and economists have waged a very public discussion on how to measure public pension liabilities and obligations. Recent guidance from GASB, the ASB and others has actually helped clarify the roles of "level cost" measures versus "market pricing" measures. However, the issue is far from resolved, with possible action still under discussion at the ASB, the federal Congress and other rule makers. After a brief review of the history of the debate, speakers at this session highlight recent developments and insights along with what to expect on one of the most controversial issues in the history of U.S. actuarial practice.

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Despite widespread hand wringing over the dire implications of untamed longevity risk, there is no common understanding of what it means. That doesn't stop many professionals from talking endlessly about it. Speakers at this session examine the sources of this confusion, the potential pitfalls of this confusion, and propose a framework for clearing away the fog.

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The legal framework for investment advice could change the landscape within the retirement industry if the proposed definition of "investment advice" changes. Join us to understand the difference between "guidance" and "advice" and the implications to roles of consultants, record keepers, sponsors, and participants.

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Over the years, actuaries have taken on a larger and more active role with plan administration and compliance. With the IRS discontinuing the determination letter process and rumblings of the DOL announcing an initiative focusing on benefit payment practices, that role continues to expand. Speakers at this session explore issues surrounding benefit elections and plan documentation that actuaries need to understand to keep their clients out of trouble.

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Research is a core mission of the Society of Actuaries, yet many pension actuaries are unaware of the variety of retirement-related projects conducted each year. Panelists at this session provide an introduction to SOA retirement research and then provide a more detailed discussion on two projects: first, the effect of corporate pension risk on corporate finance and second, a look at trends in contribution levels and stress metrics (financial stress measures) for defined benefit plans in the U.S.

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Health plans continue to use cost reduction techniques such as chronic condition management, utilization management, and care management. How is the success of these programs determined, and how should they be measured? Is the traditional return on investment (ROI) a reasonable measure to use?

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For those companies that still have retiree medical programs, designs continue to evolve, reflecting changes in retirement patterns and family composition as well as the ongoing evolution of exchanges for both pre- and post-Medicare retiree coverage.

Similarly, employers who wish to prefund or settle their retiree medical obligations must understand funding rules and vehicles. The speakers recap basic design and funding principles and then move on to more advanced and current topics.

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Executive pay and benefits have received quite a bit of attention over the years in the U.S. with increased disclosures required for the top executives from public companies. Speakers at this session compare and contrast how executive pensions are delivered in select markets outside of the U.S.

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Join your public pension plan colleagues in a candid, open discussion of current issues facing public pension plans today. Topics may include: 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.

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How do dynamic asset allocation (DAA) and glide paths for DB plans work? Do these investment strategies have anything in common with glide paths for 401(k) target retirement funds? The panelists in this session discuss the advantages of glide path strategies for both DB and DC plans and how the two concepts are similar. Historical back-testing and stochastic forecasting are included to illustrate how effective the approach can be. And, you may take away some thoughts to use in investing your own money!

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Gambling at a casino may be an actuary's favored activity, but taking chances with ethics should not be. Our speakers review case studies and engage the audience in discussion of the facts, outcomes and alternative actions. Doubling down on questionable ethics is not an option.

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