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Investment/Termination Seminar Strategic Retirement Plan Management Beyond Plan Design
You helped your plan sponsors design their plan hybrid, hard or soft freeze. The next frontier is how to deploy assets now and up to final plan liquidation. This four part seminar first tackles general investment topics and second reviews the plan termination process. Speakers at this seminar focus on these investment/termination solutions and how best to implement them. Actuaries, plan sponsors, investment managers, attorneys and consultants have been invited to address the topic of investments from a variety of angles.
- Investment/Termination Part 1 Investment Managers Panel
In this session you will hear from several investment managers who work with plan sponsors on managing their assets. Liability driven investing a fad or here to stay? How are they deploying assets for frozen plans?
Moderator: Dan Cassidy
Speakers: Dan Cassidy, Dan Farley, Rene Martel
1.5 EA Noncore, 1.25 SOA PD
- Investment/Termination Part 2 Applied Investment Theory for Actuaries
Part two of this seminar will focus on a discussion of interrelationship of plan design and investments including case studies on how to consult with plan sponsors with frozen plans that are entering the end-game of the plan's life, getting plan ready for liquidation.
Moderator: Dan Cassidy
Speakers: Dan Cassidy, Dimitry Mindlin, Howard Blohm
1.5 EA Noncore, 1.25 SOA PD
- Investment/Termination Part 3 Plan Termination Nuts and Bolts
A review of plan termination rules, PBGC guidance and focus, legal landmines, communication with participant's time line. What steps do you need to take, what not to forget? What should plan sponsors do now even if they don't expect to terminate immediately?
Moderator: TBA
Speakers: Palli Bela, Anne Button, Anthony Casale, Thomas Sutton
1.8 EA Noncore, 1.5 SOA PD
- Investment/Termination Part 4 Consulting around Annuity Purchases
This seminar concludes with various viewpoints about annuity purchases broker, insurer and consultant. How to help smooth this process for your client? What can go wrong?
Moderator: TBA
Speakers: Ed Root, Mark Unhoch
1.8 EA Noncore, 1.5 SOA PD
Pension Protection Act
The Pension Protection Act has been described as the most significant pension legislation since the enactment of ERISA. It certainly has required actuaries to change their thinking about measuring liabilities and funding policy.
- Pension Protection Act 1 - PPA Overview
This session is designed to present a summary of the Pension Protection Act (PPA). The presenters will review determination of liabilities funding requirements and guidance issued to date. They will then focus on how plan design has changed in response to PPA.
Moderator: TBA
Speakers: Ellen Kleinstuber
1.5 EA Core, 1.25 SOA PD
- Pension Protection Act 2 Benefit Restrictions Under PPA
PPA has introduced restrictions in the form of benefit payment and the accrual of future benefits, depending upon the funded target attainment percentage (FTAP). The speakers in this session will review the various restrictions, the triggers, the remedies, and what strategies can be recommended to plan sponsors.
Moderator: Brian Donohue
Speakers: Brian Donohue
1.5 EA Core, 1.25 SOA PD
- Pension Protection Act 3 10 Biggest Unresolved Issues with PPA
A major piece of pension legislation requires a major guidance project. The speakers at this session address the ten biggest unresolved issues with PPA, covering both interpretation of the law and guidance yet to be issued.
Moderator: Don Segal
Speakers: Don Segal, Tonya Manning
1.5 EA Core, 1.25 SOA PD
Accounting Seminar
As public companies' benefit costs and liabilities (notably pensions and retiree health care) have received increasing scrutiny from regulators and the financial markets at large, auditors and plan sponsors have had to strengthen their understanding of the terminology, methodologies and assumptions underlying pension and health actuaries' "benefits accounting" calculations. This three-part seminar gives actuaries a clearer perspective on how pensions, health care and other labor costs and liabilities affect and fit into a public company's overall financial picture.
- Accounting - Part 1: What Hath FASB Wrought?
SFAS No. 158 is the most far-reaching accounting pronouncement since SFAS Nos. 87 and 106. What's new? What's different? What's the same? Actuaries from two accounting firms discuss how they are reacting to this new standard, both for their own actuarial clients and for their firm's audit clients.
Moderator: John Stokesbury
Speakers: John Stokesbury
1.8 EA Noncore, 1.5 SOA PD
- Accounting - Part 2: GASB No. 45 Not FASB for Governmental Plans!
GASB 45 is significantly different than SFAS Nos. 87 and 106. Learn how these accounting standards are similar, how they are different, and current issues in implementing GASB #45 and the impact on public entities.
- Actuarial Cost Methods
- Discount Rates and Other Assumptions
- Amortization Methods
- Actuarial Required Contribution
- Impact on Public Entities.
Moderator: Ira Kastrinsky
Speakers: Ira Kastrinsky, Karl Johnson
1.8 EA Noncore, 1.5 SOA PD
- Accounting - Part 3: So You Think You're an Expert? Does Your Accountant Agree?
Statement of Auditing Standards #73 (SAS 73) allows an auditor to accept your actuarial work under certain conditions. How is it being applied to your clients?
- What is SAS 73?
- What are your responsibilities under SAS 73?
- What are the auditor's responsibilities under SAS 73?
- What is your client's alternative to SAS 73?
- "You can't make this up"
Moderator: John Stokesbury
Speakers: John Stokesbury
1.8 EA Noncore, 1.5 SOA PD
Retirement 20/20 Seeing the Future of Retirement
The SOA's Retirement 20/20 was launched in 2006 with the goal to envision new retirement systems for the 21st century that don't necessarily fit today's definitions of DB or DC. The first 20/20 conference was also held in 2006, which highlighted needs, risks and roles for the four major stakeholders in the retirement system (individuals, employers, society and markets). This seminar provides you with the opportunity to hear results from that conference, what has happened since the conference, next steps, and give your input into the 20/20 project.
- Future of Retirement Part 1: Report from the Conference: Headlines
Six themes emerged from the first conference on the importance of self-adjusting systems, aligning skills with roles, accommodating new norms for work and retirement, aligning with markets, clarifying the role of the employer and improving health care and long-term care. In addition, the SOA commissioned a paper on self-adjusting systems covering examples of self-adjusting systems, both for social insurance and private pension plans. This session will discuss the headlines, with special focus on self-adjusting systems.
Moderator: Rob Brown
Speakers: Rob Brown, Mike Peskin, Tom Lowman
1.8 EA Noncore, 1.5 SOA PD
- Future of Retirement Part 2: Report from the Conference: Stakeholder Tensions
One goal of the conference was to uncover tensions between stakeholder groups. Tensions between stakeholder groups become issues which need to be resolved to successfully design new retirement systems. The speakers at this session present the various tensions between stakeholders and will be explored further in Part three of this seminar.
Moderator: Emily Kessler
Speakers: Emily Kessler, Elaine Noel-Brentley
1.8 EA Noncore, 1.5 SOA PD
- Future of Retirement Part 3: Stakeholder Tensions: What do you think?
Following on Part two of the seminar, participants will have an opportunity to break into small groups to discuss the tensions from the conference. We need to better understand them and develop ideas that will work to resolve them. Note: participation in Part 2 is helpful but not required.
Moderator: Emily Kessler
Speakers: Emily Kessler, Anne Button, Tom Lowman, Elaine Noel-Brentley
1.5 EA Noncore, 1.5 SOA PD
- Future of Retirement Part 4: Transition Issues
One of the biggest unresolved issues from the conference was how to handle transition from the current to future system. Participants in this session will be asked to brainstorm on transition issues: what are they and possible ideas for overcoming transition obstacles. Note: prior participation in this track is helpful but not required.
Moderator: Rob Brown
Speakers: Rob Brown, Michael Peskin, Anne Button, Tom Lowman
1.5 EA Noncore, 1.25 SOA PD
Financial Economics From Concept to Application
This seminar first focuses on the general concepts underlying financial economics. Presenters will then dive deeper to discuss how these concepts might be introduced to plan sponsors and applied to the risk management of pension plans.
- Financial Economics Part 1: Learning the Ropes
Learn what your actuarial students probably already know! The recently published "The Pension Actuary's Guide to Financial Economics" is used as a roadmap to present the basic concepts of Financial Economics, including its general concepts and application to pension plans.
Moderator: TBA
Speakers: TBA
1.8 EA Noncore, .9/.9 Noncore, 1.5 SOA PD
- Financial Economics Part 2: Making It Real
In this session presenters will discuss how to introduce financial economics to plan sponsors, as well as other stake holders, so that these concepts can be applied in plan management. The presenters then draw from personal experience to equip you with talking points and techniques to help make this new way of thinking more real' to you and your clients.
Moderator: TBA
Speakers: TBA
1.8 EA Noncore, 1.5 SOA PD
Consulting Skills Seminar
There is more to being a pension actuary than the technical knowledge that exams and work teach you. This seminar focuses on the consulting skills necessary to manage client expectations and projects to help you become a better consulting actuary.
- Consulting Skills Part 1: Understanding the Client's Perspective
How well do you understand how your clients' organization works? Heinz organization works. Have you ever struggled with bridging the gap between the HR and finance departments with your clients? This session's speakers will bring both the client and consultant perspective as they discuss:
- Issues consultants face as they work with clients;
- Clients expectations of their consultants;
- How to assess alternatives and identify decision variables; and
- How to drive committees to decision.
Moderator: Pat Rotello
Speakers: Pat Rotello, Althea Head
1.5 EA Noncore, 1.25 SOA PD
- Consulting Skills Part 2: Learning More about Project Management
Whether the project you are asked to manage is a plan redesign or a plan termination, your role may be that of a project manager, in addition to your role as actuary. The presenters at this session address the skills you need to be a better project manager, including confirming roles and responsibilities, establishing time lines and managing interim deadlines. The speakers will share lessons learned from projects they have managed.
Moderator: Stephen McGivney
Speakers: Stephen McGivney, Deborah Henry
1.8 EA Noncore, 1.25 SOA PD
Professionalism Seminar
Professionalism is always a hot topic as our requirements tighten and more emphasis is placed on ethics and professional judgments. This seminar consists of two sessions with speakers focusing on standards affecting pension actuaries, post Pension Protection Act effects, setting assumptions, our current code, and new and proposed professional standards that affect all of us. The speakers will review these standards including the new guide to professional conduct and standards on asset valuation methods, data quality, modeling, and qualification.
- Professionalism - Part 1: U.S. and Canadian Issues
Moderator: Ken Steiner
Speakers: Ken Steiner, Allan Ryan, Sheila Kalkunte
1.5 EA Noncore, 1.25 SOA PD
- Professionalism - Part 2: Expanded Information
Moderator: Ken Steiner
Speakers: Ken Steiner, Allan Ryan, Sheila Kalkunte
1.5 EA Noncore, 1.25 SOA PD
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