2025 Enrolled Actuaries Conference

We are living in interesting times. Retirement legislation has traditionally been bipartisan, and regulatory developments have tended to be slow and incremental. The speakers address what they are hearing about whether retirement legislation will stay that way. Also, with the new administration looking to rapidly reshape the role of government, our speakers discuss how the retirement regulatory world could be affected, perhaps in material ways. Speakers break out their crystal balls to discuss potential regulatory and legislative changes that could affect the retirement plan landscape. Note that the allocation of EA Core/Non-Core credit depends on the actual content of the presentation.

Session Category

Retirement

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

Speakers review the evolution of pension plan design alongside the evolution of pension financial risk management. Design options that fit the evolving economic, regulatory, and demographic environment are explored in-depth – including benefits, drawbacks, and regulatory hurdles. Beyond broad design options, modifications to existing plans to address emerging challenges are also addressed. Note that the allocation of EA Core/Non-Core credit depends on the actual content of the presentation.

Session Category

Single Employer Plans

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

Speakers cover Social Security topics of interest to public pension plan sponsors and participants. Many public employees do not pay into Social Security, but instead participate in a retirement system that provides benefits that are deemed equivalent to Social Security (Social Security replacement plans). The IRS provides standards to determine whether a plan meets the minimum standards, including a Safe Harbor test. Attendees can learn about the Safe Harbor rules, as well as the prevalence of Social Security replacement plans, and other plan design considerations. The recently passed Social Security Fairness Act, which repeals the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), is also addressed.

Session Category

Public Plans

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

Cash balance plans have become the plan of choice for professional employers and other small business owners. Panelists discuss cash balance designs including the impact of SECURE 2.0 on combined plan designs.

Session Category

Small Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Over the past year, PBGC has updated its final regulations governing the Special Financial Assistance (SFA) Program, as well as its assumptions guidance and filing instructions. The Agency also issued proposed regulations on 4044 interest rates and other assumptions. This session is an opportunity for multiemployer pension actuaries to hear directly from PBGC on the SFA program and other key topics of interest in regard to PBGC’s multiemployer insurance program. Representatives discuss updated statistics about plans that have already received assistance, observations on the application process, PBGC guidance, “lessons learned” from applications received to-date, what to expect for plans that have not yet applied, changes in census data review and other changes in the last year, and information on compliance with conditions after receiving SFA, including the impact of new 4044 rules on the SFA withdrawal liability interest rate conditions; provide an update on the 4213 regulation on withdrawal liability interest rates, proposed in late 2022; review PBGC’s most recent financial position and projected funding position of the multiemployer insurance program; and cover other PBGC activities – including upcoming regulations, recent PBGC guidance, and newly available resources (i.e., the most recent pension insurance data tables and recent multiemployer plan-related research reports).

Session Category

Multiemployer Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Interest rates and capital market assumptions have rapidly increased in the last two years. Is this a long‐term reversal of the two‐decade trend to lower and lower interest rates and capital market expectations? Or is it just a short‐term spike to combat inflation and we can expect a return to the prior low‐interest rate environment? Speakers explore the various economic expectations and discuss how actuaries should factor these into their assumption setting process.

Session Category

Retirement

Credits

EA Core: 1.50

CPD: 1.50

Speakers

The speakers 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. The speakers address issues that arise for closed plans where future employees are primarily covered by DC programs, or when grandfathered groups within a plan have more generous benefits. This includes the relief provided by the SECURE Act(s) – including areas of uncertainty.

Session Category

Single Employer Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Panelists review calculations under IRC Section 415 with an emphasis on multiple annuity starting dates (MASDs). Topics might also include limitations on lump sums, annuity starting dates below age 62 and after age 65, multiple annuity starting dates, and the impact of the interest crediting rates in cash balance plans.

Session Category

Small Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Representatives of the Joint Board for the Enrollment of Actuaries discuss current developments and other information relevant to Enrolled Actuaries and the profession at large. In addition, the panelists provide an overview of the requirements that the Joint Board regulations impose on Enrolled Actuaries. Attendee questions are encouraged.

Session Category

Professionalism

Credits

EA Core: 1.50

CPD: 1.50

Speakers

The speakers review recent court decisions, ongoing litigation and complaints filed that could affect defined benefit plans or pension actuaries. This year's cases involve actuarial malpractice, actuarial equivalence, actuarial assumptions, erroneous benefit determinations, recent Supreme Court decisions, and many others.

Session Category

Retirement

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Credit Rating Agencies continually refine and expand their methodologies for analysis of public pension financial ramifications for state and local governments. Our panelists review how the new US Governments criteria from S&P Global Ratings illuminates analytical views on key pension risk factors, including the discount rate and amortization components. An overview of S&P’s three-pronged approach (funding level, funding discipline, and affordability) to analyze public pension budgetary pressures is also presented, as well as details on how the guidelines were created, what risks they address, and how they are applied to credit analysis.

Session Category

Public Plans

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

Standard plan terminations have been on the rise over the last few years. Plan terminations follow a prescriptive process with strict timelines, notices, filings, and the eventual liability settlement. Speakers review the plan termination process, highlighting trouble spots, common pitfalls, and areas where the actuary can make the process easier for plan sponsors.

Session Category

Single Employer Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

It’s been more than two years since PBGC issued the proposed withdrawal liability interest rate regulation. While that regulation remains in limbo, there have been several court decisions that affect the assessment, calculation, and collection of withdrawal liability. Speakers discuss a variety of developments, including court decisions affecting actuarial assumptions, the timing of assessments, credits for past partial withdrawals, special industry rules, and the treatment of contribution rate increases.

Session Category

Multiemployer Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Large and small plan sponsors continue to evaluate strategies to transfer or mitigate pension plan risk. Speakers discuss strategies involving governance, fiduciary considerations, lawsuits about the choice of annuity provider, and DOL’s review of 95‐1. Note that the allocation of EA Core/Non-Core credit depends on the actual content of the presentation.

Session Category

Retirement

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

Panelists address risk-management strategies and best practices for ensuring the long-term sustainability of public plans. Topics may include assumption setting, asset smoothing and amortization policies, non-valuation asset reserves, and coordination with investment strategies.

Session Category

Public Plans

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

The SECURE Act added Code section 401(o) to provide relief to frozen plans of large employers, but the law also creates incentives for many small employers to freeze their DB Plans after five years. Combined with the ability to amend Code Section 401(a)(26), you may be able to freeze the Plan to new entrants, avoid Section 401(a)(26) going forward, and pass combined plan testing without a gateway requirement. Too good to be true? Seems so, but it's in the law. Attend this session to learn all about it.

Session Category

Small Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Speakers present pension‐related scenarios from beginning to end: original source of conflict, actuary’s efforts to resolve, nature of complaint, investigation by ABCD, IRS or the Joint Board, actuary’s responses, and subsequent action by federal agencies and actuarial organizations. Scenarios are de‐identified but attempt to capture key elements and representative resolutions. Attendees are invited to add their questions and insights via chat.

Session Category

Professionalism

Credits

EA Core: 1.50

CPD: 1.50

Speakers

In this highly interactive session, panelists and audience members discuss solutions to difficult ethical situations faced by actuaries in their day‐to‐day practices, including dealing with the IRS, correcting errors, billing clients, and clarity of communications. We also discuss how ethical determinations may be affected by professional rules, and the differences between Joint Board regulations and rules of the US actuarial organizations (AAA, SOA, CCA, ASEA).

Session Category

Retirement

Credits

EA Ethics: 2.00

CPD: 2.00

Speakers

A potentially seismic shift in federally regulated industries may occur with the Supreme Court’s elimination of Chevron deference, and allowing regulations to be challenged many years after their publication. What does this mean for regulations governing fiduciary duties, actuarial assumptions, pension benefits, and more? Panelists will discuss what Chevron deference was, how it affected agency interpretations of pension statutes, and the likely effect of Loper Bright and Corner Post on pension actuaries.

Session Category

Retirement

Credits

EA Core: 1.50

CPD: 1.50

Speakers

In August 2024 the CCA Public Plans Community released a second edition of their 2014 white paper “Actuarial Funding Policies and Practices for Public Pension Plans.” Speakers at this session review what is new in “white paper 2.0” including changes that were made in response to comments received from the public sector community.

Session Category

Public Plans

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

Speakers address recent accounting issues and considerations from the perspective of both actuaries and auditors under ASC 715, 960 and 965 as well as IAS 19.

Session Category

Single Employer Plans

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

It may have been a while since you last reviewed our profession’s Code of Professional Conduct or Joint Board regulations in detail. Our panel of experts helps you refresh your knowledge of the Code and JBEA regs and discuss some common situations faced by Enrolled Actuaries.

Session Category

Professionalism

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Speakers address the application of large language models such as ChatGPT and other advanced AI and analytic technologies in the actuarial workplace, by diving deeper into specific ways that pension actuaries might potentially use AI in preparing work products, as well as the professionalism aspects to consider as we evaluate adoption of these new technologies.

Session Category

Retirement

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

Speakers discuss the latest developments in the private pension plan sector. Topics that may be covered include recently enacted and pending legislation; proposed and final regulatory guidance and other regulatory activity; recent litigation; and pending and adopted revisions to the Actuarial Standards of Practice.

Session Category

Single Employer Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

As the interest rate environment changes actuaries must react to the implications of these changes on cash balance plans in both design and administration. Presenters cover how interest rates impact the way actuaries and defined benefit consultants administer cash balance plans, how interest rates are selected, and the impact these decisions have on various plan calculations.

Session Category

Small Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Special financial assistance (SFA) is a lifeline for eligible multiemployer pension plans, but navigating both the application process and ongoing compliance requirements can be complex. Speakers briefly review recent developments in SFA applications, highlighting key trends with a focus on post-SFA requirements, including the annual statement of compliance, funding rules, and applicable conditions and restrictions. Come and gain a better understanding of how to maximize the chances of a successful SFA application and ensure plans remain compliant after receiving SFA.

Session Category

Multiemployer Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Are defined contribution plans headed for a period of meaningful transformation? With the creation of pooled employer plans and the continually emerging area of lifetime income, there is the potential to see a shake up the defined contribution plan landscape. Speakers in this session discuss how pooled employer plans are continuing to grow and why employers are deciding to join them. Speakers also address the evolving landscape of lifetime income products and solutions including what’s holding employers back from adopting them for their plans and why employees are hesitant to utilize them. Note that the allocation of EA Core/Non-Core credit depends on the actual content of the presentation.

Session Category

Retirement

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

Other Postemployment Benefits (OPEB) are prevalent in the public sector. Speakers discuss a variety of topics related to Public Sector OPEB Plans, including OPEB funding strategies, funding vehicles, plan design, and valuation issues.

Session Category

Public Plans

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

The speakers at this session cover a number of more complicated issues that arise in performing benefit calculations. Potential topics are: multiple annuity starting dates, benefits beyond normal retirement date, determining amounts eligible for rollover, and QDROs.

Session Category

Single Employer Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

A key lesson from the past 15 years is that multiemployer pension plans become increasingly vulnerable to market declines as they mature. Purchasing annuities for a segment of the retiree population can be an effective tool for mitigating this risk, and one that has become more cost-effective as interest rates have retreated from historic lows. Panelists discuss the factors that trustees should consider when making this decision, review best practices for actuaries helping boards understand the key issues, and provide an overview of the process from start to finish. Note that the allocation of EA Core/Non-Core credit depends on the actual content of the presentation.

Session Category

Multiemployer Plans

Credits

EA Core: 0.75

EA Non-Core: 0.75

CPD: 1.50

Speakers

Will annuitants have lower mortality in pension plans with a lump sum option? Do early retirement factors affect turnover? Panelists discuss how insurance actuaries reflect the effects of adverse selection on insurance and annuity design and pricing, and the implications for pension plan design and valuation. Note that the allocation of EA Core/Non-Core credit depends on the actual content of the presentation.

Session Category

Retirement

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

Speakers address the challenges and implications of missed contributions in pension funding, including regulatory requirements, penalties, and potential consequences for plan sponsors. Attend this session to gain practical insights into navigating funding challenges and mitigating risks associated with missed payments.

Session Category

Single Employer Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Presenters focus on designing owner-only (or owner and spouse) DB plans. What data is needed to perform your analysis? Is there historical compensation that can support the desired contribution/benefit? Does the taxpayer's entity matter, and should it change? Can your client sustain the first-year contribution in future years - and do they want to? Should you use a cash balance plan or a traditional plan? What can be done with an accompanying DC plan?

Session Category

Small Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

How does bias creep into the assumptions and models pension actuaries use to providing actuarial services? What can you do to identify and avoid bias? Note that the allocation of EA Core/Non-Core credit depends on the actual content of the presentation.

Session Category

Professionalism

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

The IRS finalized new 401(a)(9) regulations in July 2024, reflecting the SECURE Act and certain SECURE 2.0 changes, and issued proposed regulations for other SECURE 2.0 changes. Speakers review both the proposed and final rules affecting defined benefit and defined contribution plans.

Session Category

Retirement

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Join your public plan colleagues in a candid, open discussion of current issues. Session topics may include ASOP 4, plan design, impact of inflation, and practical discussions of issues raised in other sessions.

Session Category

Public Plans

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers

A panel of representatives from the IRS, PBGC, and Treasury Department provide updates and field your questions on a number of challenging issues. This is your chance to ask what you've always wanted to know about guidance. This session is not intended to address specific client issues.

Session Category

Single Employer Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

Merging multiemployer pension plans can create efficiencies and strengthen long-term sustainability, but the process involves a myriad of considerations. Panelists outline the key requirements of a merger – including the impact on withdrawal liability and plan funding. They also explore facilitated mergers and mergers involving plans that received special financial assistance (SFA). Attend this session to gain practical insights to navigate the complexities and opportunities of bringing plans together successfully.

Session Category

Multiemployer Plans

Credits

EA Core: 1.50

CPD: 1.50

Speakers

In the coming decades, America’s demographic and economic landscape is poised for significant transformation, influenced by a variety of dynamic forces. Evolving patterns of work and retirement as well as the shifting age-dependency ratios both in the US and globally, are set to reshape our society. Experts are optimistic about the potential advances in biomedicine to enhance our longevity, while also acknowledging the importance of addressing challenges such as public health, future pandemics, and lifestyle choices. Additionally, the roles of artificial intelligence, climate change, protectionism, and geopolitical shifts present uncertainty and risk for the future.

This session explores ideas, data trends, and analysis of these megatrends and macro factors while considering how these factors may influence the long-term sustainability of single-employer, multiemployer, and public retirement systems. The panelists discuss proactive strategies that actuaries can do today to assist plan sponsors in navigating the future.

Session Category

Retirement

Credits

EA Non-Core: 1.50

CPD: 1.50

Speakers