Final regulations covering minimum funding and benefit restrictions were issued last fall. The panel provides a high-level overview of the final regulations, focusing primarily on how they differ from the proposed regulations and what provisions create challenges for Enrolled Actuaries. The speakers also discuss areas where guidance is still outstanding (e.g., WRERA, cash balance plans). In addition, because the regulations are first applicable for 2010 plan years, a portion of the session is devoted to 2009 plan years and what might (or might not) constitute “reasonable interpretation.” If any funding relief legislation is enacted before the Enrolled Actuaries Meeting, highlights are covered.

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In this session, speakers review the rules for determining the funding target and target normal cost under the final 430 regulation for single employer defined benefit plans, including which benefits to value and how to discount future payments using segment rates and the yield curve. Panelists review the mandated assumptions and methods, and explain where actuaries and plan sponsors still have discretion. Permissible asset methods are described in light of the final regulation and WRERA. Liability calculations for other purposes such as PBGC premiums and at-risk determinations are also covered.

For more information on considerations for selecting assumptions, refer to Session 308. Determination of Minimum/Maximum funding requirements is covered in Session 201.

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The speakers review required disclosure directly to participants with particular focus on the annual funding notices and benefit restriction notifications. Speakers also review other disclosure requirements such as annual statements and relative value disclosure. Attendees should come away with the knowledge to help their clients navigate the complex communications and disclosure labyrinth. (This session is not recorded.)

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Complex coverage and nondiscrimination rules under 401(a)(4), 410(b), and 414(s) affect all our clients. Panelists provide an overview of the rules, highlighting safe harbors, general testing, cross testing, and techniques for navigating the complicated requirements.

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Panelists review new guidance provided over the last year, with special focus on important developments that occur shortly before the meeting. The session may address rulings, regulations, litigation, and other exciting news. (Note - the breakdown between core and noncore credit is determined based on the actual content of the session.)

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The Pension Protection Act of 2006 (PPA) was first effective for multiemployer plans for the 2008 plan year. After 2008 happened, many multiemployer plans were able to keep their 2008 zone certification for their 2009 plan year under the Worker, Retiree and Employer Recovery Act of 2008 (WRERA). Now, 2010 looms as the "first" year many multiemployer plans have to fully comply with many/all of the provisions of PPA. The speakers at this session cover the action items that Boards of Trustees need to deal with during 2010, and beyond.

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As a result of the market decline in late 2008, many employers will be subject to 4010 reporting for the first time. With 4010 filings for calendar year filers due the day after the EA meeting ends, this session is a must for first time filers. Even if your clients were able to avoid 4010 reporting for 2009 by using the October yield curve to determine the FTAP, given the recent drop in bond rates that might not be the case next year, so this is a great opportunity to get up to speed. Topics to be covered include: how to determine whether a filing is required (including the new 80% FTAP gateway test and the $15 million funding shortfall waiver), what information needs to be reported (including the nuances of calculating benefit liabilities) and determination of exempt entities and exempt plans. In addition, since electronic filing is required for 4010 reporting, an overview of the e-4010 application is covered.

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PPA, WRERA, PFEA -- it's a rare piece of new legislation that doesn't make a change to the rules around benefit limitations under Code Section 415. And let's not forget the regulations were effective only a few years ago. Speakers at this session provide an overview of the rules, highlighting recent changes, and examples are provided of real work situations, in which the limits apply.

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With one year of experience under our belts, speakers at this session review Schedule SB in light of the final PPA funding regulations. Other aspects of Form 5500 that may require actuarial involvement, such as the Schedule R, are also covered. Come learn what's new, what to look out for and how to get it right. This session is designed for actuaries who already have a good working knowledge of the final funding regulations. For those of you who are still working out the kinks, consider attending some sessions on the new funding rules first and then learn about how to complete Schedule SB in Session 501. (Repeated at Session 501)

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Come to this session to review the fundamentals of determining the minimum required and maximum deductible contributions for single employer defined benefit plans, based on the final Section 430 regulation. Actuaries attending this session should have a good working knowledge of how assets and liabilities are determined under the final PPA funding regulations as those rules are not covered in this session. If you need a refresher on calculating assets and liabilities, consider attending Session 101. Due to time constraints, this session does not focus on the complexities of using credit balances to off set funding requirements, especially with respect to quarterly contributions. For an in depth discussion of quarterly contributions and the challenges related to managing credit balances, see Sessions 301 and 401.

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The speakers at this session focus on aspects of the IRC 410(b)/401(a)(4) nondiscrimination rules that are coming into play with increasing frequency in the current economic and plan design environment. Topics covered include nondiscrimination testing rules which apply to window programs and unpredictable contingent events, and issues which arise with closed plans where future employees are primarily covered by DC programs, or when grandfathered groups within a plan have more generous benefits. The plan design implications of these rules is also covered.

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This session reviews any regulations which have been finalized or proposed regarding cash balance plans by the time of the meeting. Topics include back-loading rules and market rates of interest.

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An experienced panel of public plan actuaries discuss current issues in the public sector with a special emphasis on recent developments in plan design and funding. Topics include contribution rate stabilization techniques, actuarial assumptions, and conversions to, and from, defined contribution plans, as well as 403(b) and 457 plans.

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The speakers present a review of the final benefit restriction regulations. Our panel of experts examine the basic rules including restricted benefits and benefits that are exempt. How do you deal with the presumption rules if the AFTAP isn’t certified yet? What happens when you come out of the WRERA accrual freeze protection? What methods are available to avoid restrictions? Note: this session does not cover the special rules about amendments and UCEB benefits; those are covered in Session 506 (Benefit Restrictions – Amendments and UCEB.) (Repeated at Session 406.)

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A lot of time is spent worrying about limits placed on our professional judgment by outside bodies -- IRS, FASB, PBGC, etc. If you're looking for an overview of the ASB's Standards affecting pension actuaries issued by our profession, this session is for you! As a bonus, an overview of our current Code of Conduct is presented, too.

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This interesting session deals with ways not to design and administer plans. A review of recent court cases provides insight on the consequences of improper plan design and administration with emphasis on Defined Benefit Plans.

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This session covers known and unresolved aspects of the rules related to quarterly required contributions. A basic overview of the requirements is presented. In addition, related issues discussed, include the implications of late contributions or credit balance elections and the interactions of credit balance available to meet quarterlies with other uses or forfeitures of credit balances. Liquidity shortfall requirements is also covered. (Repeated at Session 708.)

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Valuing pension obligations nowadays often involves the use of a yield curve, rather than a single discount rate. Speakers discuss various techniques used to develop yield curves (including the PPA Curve) from market data on bond yields, as well as the application of curves to benefit cash flows to calculate obligations and "effective" (i.e., single equivalent) rates.

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How does PPA affect optimal solutions for each client? New issues not previously experienced in small designs are discussed.

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Speakers from the Department of Labor address topics of interest to actuaries. A major part of this session is an opportunity for meeting attendees to address questions and concerns to representatives of the Department of Labor. (This session is not recorded.)

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Multiemployer plans are subject to different rules than single employer plans and they also operate in a different environment. Issues covered in this session include recent key developments, plan design issues and an update on pension reform provisions, if any. (A complete discussion of the effects of PPA '06 is covered in Session 105.)

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In the past, many plans were exempt from reporting to PBGC under ERISA 4043 because of a multitude of waivers provided in PBGC’s final regulation. Those days may soon be over. PBGC is proposing to eliminate most of the automatic waivers and as a result, it’s much more likely that your clients will need to report. Don’t be caught off guard. Learn about these and other changes provided in PBGC’s proposed 4043 regulation. In addition, learn how to determine if reporting is required during this interim period (i.e., before the new 4043 regulation is finalized).

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Many employers have become increasingly unhappy with their DB plans and would love to get rid of them. The panel discusses the issues surrounding plan sponsors "exiting the DB business," including the strategies a sponsor might use to reduce or eliminate the plan (plan freeze, annuity purchase, or plan termination). The speakers also discuss the related issues of funding, investment, and communication strategies for plan sponsors in a variety of situations (e.g., over- or underfunded).

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In this session, panelists discuss how actuaries select assumptions in light of the guidance available to them, including standards of practice, practice notes and FASB guidance. Speakers at this session focus on all manner of assumptions, such as interest rates, demographic assumptions, and assumptions regarding payments, whether entirely at the actuary's discretion or mandated by law or other authority.

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Do we need a new paradigm for pension plan investments? Fixed income investments have outperformed stocks over the past ten years, something that many market observers believed should never happen. Meanwhile pension liabilities are being measured for most purposes based on high quality fixed income yields now near historic low levels -- with both funding and accounting requirements forcing plan sponsors to address the impact of capital market events over very short timetables. And for many mature organizations pension plans have grown to a level that is out of sync with the size of the company's business operations. Does the traditional 60/40 asset mix still make sense under these conditions, or do we need to create a new paradigm for investing pension assets going forward? The speakers on this panel bring together actuarial, investment and economics expertise to explore these issues.

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“You’ve got to know when to hold ‘em and when to fold ‘em”. . . although credit balances aren’t as flexible as they once were, they can still be used to strategically manage pension contributions. Our speakers examine some of the more advanced ideas on how sponsors can make the most effective use of credit balances.

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Many defined benefit actuaries are now working on retirement program redesign projects with companies that want to move away from their DB plans and add or improve their DC benefits. The speakers at this session cover approaches to designing such programs that meet company objectives for benefit levels, competitiveness, cost, employee appreciation, etc. The presenters cover specific issues to consider in such a redesign project, including safe harbor 401(k) plans, cross testing, and DB grandfathering.

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Small plans can be tricky. Often, the lawmakers create inadvertent pitfalls just when they thought they were helping you out. The panelists’ presentation should help you navigate those gotchas before they attack your small plans.

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Experienced practitioners involved in the process lead a review of government responses to the Gray Book questions. They comment on responses of particular interest and facilitate a dialogue on practical implications of the responses and alternative approaches where complete answers are not provided.

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The speakers on this panel dive into and discuss a variety of current issues in the public plan arena. Issues to be discussed may include asset smoothing, market value liabilities, review of the discount rate, and early retirement numbers.

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The speakers present a review of the final benefit restriction regulations. Our panel of experts examine the basic rules including restricted benefits and benefits that are exempt. How do you deal with the presumption rules if the AFTAP isn’t certified yet? What happens when you come out of the WRERA accrual freeze protection? What methods are available to avoid restrictions? Note: this session does not cover the special rules about amendments and UCEB benefits; those are covered in Session 506 (Benefit Restrictions – Amendments and UCEB.) (Repeated at Session 205.) (This session is not recorded.)

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Do you help your clients with FAS 106 or GASB 45 Valuations? Our panel reviews an important element of every valuation - healthcare claims development. What do the ASOPs require? What are practical approaches to gathering data, analysis, and establishing the per-capita claims? We will review case studies to answer these questions—one for a large employer with credible experience and another for a smaller employer with a fully insured program.

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Defense attorneys discuss claims brought against actuaries and how to protect yourself. What situations should you avoid? What evidence may help or hurt you? What damages are awarded to plaintiff s? What should you do if you are sued?

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With one year of experience under our belts, speakers at this session review Schedule SB in light of the final PPA funding regulations. Other aspects of Form 5500 that may require actuarial involvement, such as the Schedule R, are also covered. Come learn what's new, what to look out for and how to get it right. This session is designed for actuaries who already have a good working knowledge of the final funding regulations. For those of you who are still working out the kinks, consider attending some sessions on the new funding rules in the earlier tracks and then learn about how to complete Schedule SB in this session. (Repeat of Session 108) (This session is not recorded.)

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This session presents an overview of the myriad of ramifications triggered by pension plan underfunding. Topics include issues related to plan design, union negotiations and contracts, and employee relations issues related to benefit restrictions, funding notices and restrictions on executive compensation funding. General business issues are also covered, including potential violations of loan covenants, effect on credit rating and cost of capital, and potential PBGC reporting and involvement in business transactions and downsizing.

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Plan design options from the simple to the most complex with focus on real world issues, common problems and practical solutions are discussed. Examples include safe harbors and general tested formulas DB 401K Plans.

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Panelists discuss proposals for sustainable defined benefit plans which is attractive to participants and plan sponsors for the long-term.

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Panelists discuss the latest developments related to GASB's Invitation to Comment issued last May on whether modifications are needed to the current pension standards under BASB 25 and 27. The panel also discusses best practices that have emerged in the measurement and disclosure of OPEB liabilities under GASB 45 now that we have moved past the initial valuation phase into second year valuation and roll forwards.

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The panel reviews the complexities encountered by plans that increase benefits or have an event triggering Unpredictable Contingent Event Benefits (UCEB). Issues include the amendment funding test during periods of presumption, deemed waiver issues arising from the amendment funding test, and alternative tests for amendments and how to determine the amount of contribution needed to avoid the restriction (i.e., 436 contributions). For UCEB benefits, our panel discusses the timing of the test and when benefits can or cannot be paid. This session is designed for actuaries who already have a good working knowledge of the basic rules related to benefit restrictions under the final 436 regulations (i.e., presumption rules, credit balance burn rules, etc.). For those of you who are still working out the kinks, consider attending Session 406 (Benefit Restrictions: The New Rules) prior to attending this session.

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The Executive Director of the Joint Board for the Enrollment of Actuaries, and one or more current JBEA Board members are the panelists at this session. Session participants are provided the opportunity to ask questions of these JBEA members. The proposed regulations of the Joint Board and the exam syllabus may also be discussed.

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Fee cases, regulations, agency actions and Congressional attention -- plan fees, investments advice and education for participants are getting more complicated. Our panel of experts review the legal environment and help you work through the issues. Many of these issues are as applicable to DB plans as to DC plans.

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What’s hot and what’s not in benefits accounting? The panel addresses the latest issues and trends in the world of our accounting friends, including codification, convergence, and why those auditors ask us so many questions.

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In this highly interactive session, volunteers from the audience debate with each other and our panel of experts on ethical problems that are serious, difficult and fun, discuss common dilemmas faced by actuaries, and the ethical issues that arise. This session is set-up in a case study format.

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Representatives of the Employee Plans Division of the IRS meet with actuaries attending this session to discuss areas of mutual concern, suggestions for future guidance, and other topics that may arise. Take this opportunity to provide “feedback” to the people in Washington with whom we have the most interaction. (This session is not recorded.)

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A panel of PBGC representatives provide an overview of recently published PBGC guidance, highlights from this year’s “Blue Book,” and other issues of interest to actuaries. There is plenty of time for questions from the audience. Participants are encouraged to come prepared with specific technical questions related to a PBGC topic.

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This session is an opportunity for multiemployer plan actuaries to engage in “hands on” discussion of problems, issues, and experiences encountered in their practices. (This session is not recorded.)

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The speakers at this session cover benefit payment and accrual freeze restrictions. The panel examines notice, timing and calculations for the bifurcation of accelerated benefits. It also reviews the payment and benefit accrual options available to plans at recovery.

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Healthcare reform affects your employers’ retiree medical plans and your valuations. Our panel reviews changes (enacted or proposed) that you need to understand and consult on with your clients.

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In the current environment, many companies are reducing their workforces and closing locations. The issues run from funding to Title IV to participant notification to nondiscrimination. Our expert panel covers the whole gamut, including partial plan termination and 4062(e) liability.

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Speakers at this session cover the rules relating to at risk status, the calculation of at-risk liabilities, and the consequences of being at-risk. Funding requirements, benefit restrictions in the plan, and, in addition, the restrictions on executive benefits are also discussed.

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As the laws grow more complex, there are more ways in which enrolled actuaries can inadvertently become fiduciaries under ERISA. The panelists look at the law, what Enrolled Actuaries do, how not to cross the line into fiduciary territory, and the consequences if they do.

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Have you ever wished for the opportunity to discuss your problems with a group of peers? This workshop is an open forum on current problems and issues specific to sponsors of small plans. Topics may include PPA, PAA, IRC 401(a)(26), 410(b), 401(a)(4), 401(a)(17), 415 and 401(a) (9) and PBGC Funding Rules for Small Plans. (This session is not recorded.)

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The panel at this session covers from a broad perspective the impact of bankruptcy on an employer’s benefit plans. The panel discusses many wide-ranging issues such as: who is your client once the bankruptcy process begins?, and how do you get paid?; the competing interests of various parties such as the plan sponsor, the actuary, stockholders, creditors, and the PBGC; how is the plan funded during bankruptcy, and nonqualified and DC issues? Other topics covered include a compliance overview and other legal issues. (This session is not recorded.)

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This is an open forum on current topics of concern to public plan actuaries. This year the speakers focus the discussion on the issue of market value liability disclosure for public pension plans. Other possible topics include setting funding assumptions, asset valuation methods, recent DROP controversies, and the focus of public interest on the government sector plans in today’s economy. (This session is not recorded.)

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Are you an in-house actuary? This workshop is for actuaries who work on retirement and other plans sponsored by their employers. Attendees have the opportunity to discuss the special problems and issues they encounter. (This session is not recorded.)

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Social Security requires just one decision from participants: When should I start drawing benefits? This decision, however, can have an enormous impact on the post-retirement risks participants face. Practitioners and plan sponsors should understand the impact of this decision on the design of employer-provided retirement benefits and consider ways of providing support to employees to foster decisions that improve retirement security outcomes.

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This session covers known and unresolved aspects of the rules related to quarterly required contributions. A basic overview of the requirements is presented. In addition, related issues discussed, include the implications of late contributions or credit balance elections and the interactions of credit balance available to meet quarterlies with other uses or forfeitures of credit balances. Liquidity shortfall requirements is also covered. (Repeat of Session 301.) (This session is not recorded.)

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We all issue actuarial reports, but do we all know what should - and shouldn't - be in them? When the auditor comes calling, what is he looking for in your report? This practical, interactive session addresses the professionalism standards as they relate to actuarial reports, and covers many of the common pitfalls an actuary should avoid when issuing an actuarial communication. Bring a red pen!

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It's here and errors abound. Whether you realize it or not, SERPs are covered under 409A. Many plan sponsors aren't getting them quite right. In this session, the panel discusses what the traps are, what is going wrong and how to fix those errors as painlessly as possible.

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A panel of high ranking IRS officials field your questions on a number of challenging issues. This is your chance to ask everything you've always wanted to know about guidance.

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The speakers at this session focus on interactions with the PBGC in the context of corporate transactions, reorganizations, and liquidations, both in and out of bankruptcy. The panel also covers what happens when the PBGC steps in to take over a plan, viewed from the perspective of the PBGC, the plan, and the sponsoring controlled group. In all these areas, learn what information PBGC needs, what PBGC's concerns are likely to be, and how best to address and resolve those concerns.

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PPA requires that rules for reimbursing government contractors for pension costs under CAS be harmonized with PPA funding rules by 2010. Speakers discuss the harmonization rules and strategies contractors may consider under these rules.

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The panel covers a variety of issues encountered by plans which pay lump sums. Topics covered may include calculation of lump sums, methodologies for valuing lump sums in accounting and funding valuations, top-25 restrictions on lump sum payments, 415 limits, grandfathering of more generous actuarial conversions than PPA, and calculations of benefits earned following an earlier lump sum payment. (This session is not recorded.)

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These days, no one can get everything right all the time. What do you do when you discover a compliance problem? Experts in voluntary corrections discuss real-life case studies and explain the corrections programs, including SCP, VCP and CAP.

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PPA (and WRERA, and whatever comes next) won’t be the last word on pension legislation. A new Congress and Administration have a new perspective on retirement and Social Security. Meanwhile, the world is changing -- retirement (and how we plan for it) could be very different in the not-too-distant future. Veteran Washington policy advisors discuss the prospects and outlook for new Federal pension, retirement and Social Security policies, as well as developments they hope to see.

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