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Sessions from the 2006 CCA Annual Meeting

01 - A Second Look at the Gray Book

10/22/2006 - 5:00 - 7:05 PM
Credits: EA Core 2.50 CPD 2.50

Experienced practitioners lead a review of government responses to the Gray Book questions. The panelists discuss the practical implications of the answers and any new information developed since the 2006 EA meeting.

Speakers:

1. Dennis M. Monaghan - HPnorthwest
2. Bruce Cadenhead - Mercer
3. James A. Stinchcomb

02 - General Session

10/23/2006 - 8:00-10:15 AM
Credits: EA Core 1.90 CPD 1.90

Dr. Jay Olshansky, noted aging and demographic expert, discusses the idea that forecasts of life expectancy are an important component of public policy that influence the funding for, and solvency of, age-entitlement programs like Social Security and Medicare. The Social Security Administration (SSA) recently raised their estimates of how long Americans are going to live in the 21st century – a decision that will influence current and future tax rates. Current trends in obesity in the U.S., especially at younger ages, suggest that the SSA is overestimating the future life expectancy of the American population. In his recent manuscript he calculates how much life expectancy would rise if obesity was eliminated in the United States. He has found that life expectancy at birth would be higher by about one-half to three-fourths of a year in the absence of obesity. This is greater than the longevity gain that would occur with the elimination of all accidental mortality (encompassing mostly accidents, homicide, and suicide). The importance of this finding is that it is based on past trends in obesity, not on current trends. The latest data on obesity in the U.S. indicate that for children it is growing worse at a faster pace than in previous decades. If effective interventions are not developed soon, the negative effect of obesity on life expectancy is expected to rise to between 2-5 years or more in the next few decades. Dr. Olshansky explores the health and social consequences of individual and population aging and obesity, while examining the demographic and health implications on the population.

Speakers:

1. Dr. S. Jay Olshansky - University of Illinois at Chicago
2. Kenneth G. Buffin - The Buffin Foundation
3. Thomas S. Tomczyk - Buck Consultants

03 - The Growing Health Care Crisis

10/23/2006 - 10:35 - 11:50 AM
Credits: CPD 1.50

With the first of the baby boomers retiring and the growing fiscal pressures on employers, the U.S. healthcare system is at a crossroad. What are the contributors to this crisis, and, left untouched, where will it go?

Speakers:

1. Dale H. Yamamoto - Red Quill Consulting
2. Jeff Lemieux - America's Health Insurance Plans
3. Sally T. Burner - Actuarial Research Corp.

04 - TPAs and the Changing Legal Environment

10/23/2006 - 10:35 - 11:50 AM
Credits: CPD 1.50

Consistent and proper claims handling practices can be difficult to implement in a fluid legal and regulatory environment. Learn how TPAs modify claims handling practices in response to law changes.

Speakers:

1. Marn Rivelle - Rivelle Consulting Services
2. Alvin Feliciano - Hazelrigg Risk Managment Svcs.
3. Gary Jennings - KPMG LLP

05 - The Incredible Shrinking Actuarial World

10/23/2006 - 10:35 - 11:50 AM
Credits: CPD 1.50

In advance of the release of the movie with the same name, come and learn about the rapidly increasing relevance of the international actuarial landscape. Actuarial practice is changing rapidly around the globe in both developed and developing nations. The panelist at this session explores the maturing world-wide actuarial community and identifies the key trends that matter most to actuaries practicing in North America. Past President of the International Actuarial Association, Jim MacGinnitie, leads this panel discussion and makes the case for why we all should be watching the world scene.

Speakers:

1. W. James MacGinnitie
2. Michael L. Toothman - Actuarial & Risk Consulting Services

Session Coordinator/Recorder:

Jeanette C. Wagner - Towers Watson

06 - Late Breaking Developments

10/23/2006 - 10:35 - 11:50 AM
Credits: EA Core 1.50 CPD 1.50

A panel of diversified professionals discuss the latest developments affecting retirement plans on the legislative, regulatory and legal fronts. Among the topics that may be covered are: 2006 Legislation, Guidance from the IRS, DOL, Treasury, and court decisions.

Speakers:

1. Stanley H. Tannenbaum - The Benefit Practice
2. Ethan E. Kra - Ethan E. Kra Actuarial Services LLC
3. Donald J. Segal
4. Martin Pippins - Internal Revenue Service

07 - 50,000 Mile Check-Up

10/23/2006 - 10:35 - 11:50 AM
Credits: EA Noncore 1.50 CPD 1.50

With new opportunities and new threats to the actuarial profession on several fronts, many of us are uncertain about what the future holds. We will discuss trends that are optimistic in nature, as well as some that are not, and also how to position your career to make the most of the trends. Come, hear, and participate in a discussion about the future of the profession and alternative career opportunities for actuaries, encompassing the life, health, P&C, and pension disciplines.

Speakers:

1. Louis E. Boero - Ernst & Young
2. David P. Friedlander - United States Coast Guard
3. Sally Ezra - Ezra Penland Actuarial Recruitment

08 - Stock Option Valuations for Dummies

10/23/2006 - 10:35 - 11:50 AM
Credits: EA Noncore 1.50 CPD 1.50

Speakers at this session acquaint you with the basics of this emerging practice area. Panelists provide a summary of the new FAS 123R, an introduction to options pricing models, and an overview of the critical actuarial aspects of this valuation process.

Speakers:

1. Thomas S. Terry - TTerry Consulting LLC
2. Charles D. Cahill - P-Solve Cassidy
3. Jeffrey Green - Deloitte Consulting LLP

09 - The Future of Retirement: Where Have all the Dollars Gone?

10/23/2006 - 10:35 - 11:50 AM
Credits: EA Noncore 1.50 CPD 1.50

The winds of change are blowing with retirement in this country. Demographic changes, an increasing emphasis on DC plans, and potential changes to Social Security will undoubtedly change the meaning of “retirement.” This is the first of a series of sessions on the future of retirement. The speakers explore the socioeconomic impact of these trends in this session.

Speakers:

1. Scott A. Hittner - October Three LLC
2. Joseph J. Silvestri - Society of Actuaries
3. Karen Friedman - Pension Rights Center

10 - The Actuarial Standards Board and ASOPs including ASOP 4

10/23/2006 - 10:35 - 11:50 AM
Credits: EA Core 1.50 CPD 1.50

Larry Sher and Cecil Bykerk both members of the ASB present:

The session ends with a question and answer period during which individuals are encouraged to give their impressions of the ASOP process.

Speakers:

1. John T. Stokesbury - Deloitte Consulting LLP
2. Lawrence J. Sher - October Three LLC
3. Cecil D. Bykerk - CDBykerk Consulting LLC

11 - How Can Actuaries Help Their Self-insured Clients Get Out of Collateral Jail?

10/23/2006 - 2:15 - 3:30 PM
Credits: CPD 1.50

Collateral requirements placed on self-insured clients often constrain the client’s growth. Learn why collateral is required, how its value is calculated and what options are available that affect the amount of collateral required.

Speakers:

1. Marn Rivelle - Rivelle Consulting Services
2. Thomas Fuller - Liberty Mutual Group

12 - Public and Private Response in the Healthcare Crisis

10/23/2006 - 2:15 - 3:30 PM
Credits: CPD 1.50

Various efforts are underway by the government and the private sector in response to the evolving healthcare crisis. The President has laid groundwork for the government response and various employer and insurer initiatives are addressing the issue from a different perspective.

Speakers:

1. Dale H. Yamamoto - Red Quill Consulting
2. Jeff Lemieux - America's Health Insurance Plans
3. Theodore A. Prospect - UnitedHealth Group

13 - Is the Tail Wagging the Dog? Postretirement Benefits Accounting and its Impact on Plan Design

10/23/2006 - 2:15 - 3:30 PM
Credits: EA Noncore 1.50 CPD 1.50

Pressures toward greater accounting volatility (mark-to-market, eliminating smoothing) may also drive plan design. Whether those designs are good for plan sponsors and participants is an important question. The panelists provide a survey of current methods (IAS, GASB, and FASB, including “Phase 1” of the current project) and discuss the ways that plans may be pressured to change.

Speakers:

1. Stuart H. Alden - Towers Watson
2. John R. Botsford - Milliman Inc.
3. Trevis G. Parson - Towers Watson

Session Coordinator/Recorder:

Gary M. Koscielny - Cynomys, Inc.

14 - Nondiscrimination Testing

10/23/2006 - 2:15 - 3:30 PM
Credits: EA Core 1.50 CPD 1.50

The times are changing. In the old days your client had one DB plan and one DC plan covering all of their employees; you set up the DB plan so it would be a safe-harbor, the DC plan just had to pass the ADP/ACP test – no worries for nondiscrimination testing. Now they announced a “soft” freeze on the DB side and increased the match in the DC plan – what could be wrong about that?

Join in the discussion as two consulting actuaries present:

Speakers:

1. Raymond J. Lee - Lee ACS
2. Sarah Wright - Aon Hewitt

15 - You, Too, Can be an Arbitrator!

10/23/2006 - 2:15 - 3:30 PM
Credits: CPD 1.50

Alternative dispute resolution in general and arbitration in particular is becoming increasingly important. Disputes concerning pensions, healthcare, and other accounts reflecting actuarial estimates will create new demands for actuarial services in these areas. The speakers will provide background on the arbitration process, how arbitrations are organized, different professional roles that actuaries might be asked to fill in an arbitration setting, and other background on arbitrations.

Speakers:

1. Robert J. Rietz - Consulting Actuary
2. Michael R. Powell - American Arbitration Association
3. Richard R. Mainland - Fulbright & Jaworski LLP

16 - The New 3 Rs - RVR, RASD, and Rethinking Optional Forms

10/23/2006 - 2:15 - 3:30 PM
Credits: EA Core 1.50 CPD 1.50

Relative value regulations, retroactive annuity starting dates, and rethinking optional forms (i.e., 411(d)(6)). How do these relatively recent rules relate (or not relate)? What are responsible retirement consultants advising their clients to do? Speakers in this session examine alternatives and perhaps provide some reasonable recommendations or routes to consider to reach rational results.

Speakers:

1. Laurin S. Eastling - Aon Hewitt
2. Fred A. Peterson - Aon Hewitt
3. D. Vincent Cassano - Burke Group

17 - Predictive Modeling

10/23/2006 - 2:15 - 3:30 PM
Credits: EA Core 1.50 CPD 1.50

The IRS has indicated that there will be a significant increase in the number of plan audits. EPTA is a broad-scope examination of tax-qualified retirement plans with 2,500 or more plan participants. What has been the experience to date under this format?

Speakers:

1. Stephen N. Eisenstein - The Newport Group
2. Chris Lipski - Ernst & Young, LLP
3. Wayne Kamenitz - Ernst & Young, LLP
4. Thomas Squires - Ernst & Young, LLP

18 - Alternative Investments

10/23/2006 - 2:15 - 3:30 PM
Credits: EA Noncore 1.50 CPD 1.50

The recent low return world and changing views of risk and return have fueled a huge demand for alternative assets. The speaker in this session reviews alternative assets. What are the major classes? What are the risk/return profiles? What does the future hold for these asset classes?

Speakers:

1. Bryan E. Boudreau - New York Life Insurance Co.

19 - Postretirement Medical in the Post-MMA World

10/23/2006 - 3:50 - 5:05 PM
Credits: EA Noncore 1.50 CPD 1.50

Accounting requirements and cost pressures continue to force employers to scale back or terminate their retiree medical programs, making certain workforce planning issues (e.g., mid-career hiring, retirement windows) more problematic. The speakers look at the products and services arising from Medicare Reform and the ways that employers are using them to keep their retiree medical programs alive.

Speakers:

1. Joseph Badalamenti - Mercer
2. William T. Derech - Aetna
3. Joseph B. Altman - United Healthcare

Session Coordinator/Recorder:

Karen A. Shelton - UnitedHealth Group

21 - Consulting to Multinational Companies

10/23/2006 - 3:50 - 5:05 PM
Credits: EA Noncore 1.50 CPD 1.50

Multinational companies face numerous challenges from changing legislation, regulation and accounting rules around the world that affect their pension and benefit programs. This session reviews these changes and trends and discusses how actuaries and consultants can help these companies manage these changes.

Speakers:

1. Phillip A. Merdinger - Mercer
2. Mike Timmer - Generali Employee Benefits Americas
3. Duncan Smithson - Mercer

Session Coordinator/Recorder:

Jeanette C. Wagner - Towers Watson

22 - Workshop on Multiemployer Pension Plans

10/23/2006 - 3:50 - 5:05 PM
Credits: EA Core 1.50 CPD 1.50

This is an open forum to exchange information and ideas on topics of interest to actuaries who work with multiemployer pension plans. Topics of discussion may include underfunding issues, creative plan design, collective bargaining and withdrawal liability issues.

Speakers:

1. Deborah K. Brigham - The Segal Company
2. Kent A. Spade - The Savitz Organization

23 - Supporting Your Client in Arbitration

10/23/2006 - 3:50 - 5:05 PM
Credits: CPD 1.50

This session will build on Session 15 by reviewing different client relationships and different forms of client support that can arise in an arbitration.

Speakers:

1. Alfred O. Weller - Weller Associates, Inc.
2. Michael R. Powell - American Arbitration Association
3. Richard R. Mainland - Fulbright & Jaworski LLP

24 - M & A: From Due Diligence to Day One

10/23/2006 - 3:50 - 5:05 PM
Credits: EA Noncore 1.50 CPD 1.50

Come and hear a company representative and their consulting actuary discuss the M&A life cycles, including differences for strategic and financial buyers.

Speakers:

1. Jason T. Flynn - Deloitte Consulting LLP
2. Scott Heimel - Sun Microsystems
3. Scott D. Fuller - Deloitte Consulting LLP

25 - FAS Tales from the Front

10/23/2006 - 3:50 - 5:05 PM
Credits: EA Noncore 1.50 CPD 1.50

FAS accounting for pension plans can become complex due to constant retirement plan changes. At this session, there is a discussion of situations that require further analysis of the accounting literature to identify a supportable accounting position.

Speakers:

1. Stephen N. Eisenstein - The Newport Group
2. John T. Stokesbury - Deloitte Consulting LLP
3. Dennis M. Polisner - KPMG LLP
4. Gary H. Rothy - PricewaterhouseCoopers LLP

26 - ERISA Jeopardy XIII: Laws and Orders (and Revenue Rulings, and Regulations, and Notices.)

10/23/2006 - 3:50 - 5:05 PM
Credits: EA Core 1.50 CPD 1.50

In the ERISA compliance system, the plans are represented by two separate yet equally important groups: the IRS, who write the rules, and the actuaries, who have to deal with them. These are their stories. DA-DOINK! Come join us for the latest edition of this popular session that brings out the fine details in the rules that we deal with on a daily basis.

Speakers:

1. Donald J. Segal

27 - Making the Business Case for a Combined DB/DC Approach to Retirement Plan Design

10/24/2006 - 8:00 - 9:40 AM
Credits: EA Noncore 2.00 CPD 2.00

The speakers discuss a case study where various HR and Finance objectives were analyzed based on currently available research and survey information. An actuary who is now on the corporate side of things gives a unique viewpoint on retirement plan design. The panelists review a business case which was made to prove that a combined DB/DC approach to retirement plan design makes sense. The 2005 Watson Wyatt Retirement Attitude Survey is reviewed and speakers analyze how the information was collected and then discuss the interesting results.

Speakers:

1. Laurin S. Eastling - Aon Hewitt
2. Michael Scott Bost - Aon Hewitt
3. Alex D. Wender - Deloitte Consulting LLP
4. Steven A. Nyce - Towers Watson

28 - Actuaries: Incredible or Not Credible?

10/24/2006 - 8:00 - 9:40 AM
Credits: EA Noncore 2.00 CPD 2.00

Recent scandals and litigation shine a bright light on the dark shadows of our profession. Can actuaries overcome the scandals? What steps is our profession taking to regain the public’s trust?

Speakers:

1. Michael L. Toothman - Actuarial & Risk Consulting Services

29 - An Introduction to Financial Economics and Its Applications. Do We Need a Rosetta Stone?

10/24/2006 - 8:00 - 9:40 AM
Credits: EA Core 1.00 EA Noncore 1.00 CPD 2.00

Does financial economics seem like a foreign language to you? Join us to see if our speakers have found a Rosetta Stone to translate the current regulatory definitions of liabilities into the language of financial economics. Our speakers discuss the principles of financial economics and how these principles can be integrated into your actuarial practice. Experienced practitioners discuss:

Speakers:

1. Dennis M. Monaghan - HPnorthwest
2. Emily K. Kessler - Society of Actuaries
3. Matthew T. Sloan - Towers Watson
4. Barton Waring - Barclays Gobal Investors

30 - Workshop -- Public Employee Retirement Systems (Part 1)

10/24/2006 - 8:00 - 9:40 AM
Credits: EA Core 1.00 EA Noncore 1.00 CPD 2.00

This is an open forum to exchange ideas, information and experiences on current topics of interest to actuaries who work with public employer retirement systems. Topics for discussion may include actuarial assumptions, plan design trends, and funding ratios.

Speakers:

1. Martin A. Einhorn
2. Ira M. Summer - Public Pension Professionals Inc.

31 - Health and Productivity Programs -- the Management and Measurement

10/24/2006 - 8:00 - 9:40 AM
Credits: CPD 2.00

Healthcare costs continues to increase more rapidly than salary and other employer costs. What can be done to control cost and mitigate future trends? Come and learn how one Fortune 500 retailer is successfully controlling costs in a high turnover retail environment by combining health promotions and disease management programs. Come and listen to a disease management specialist discuss recent programs that have been most successful. Also presenting is a PhD researcher on state of the art approaches to measuring savings and ROI – both from individual programs and for various combinations of programs.

Speakers:

1. George B. Wagoner - Mercer
2. Bob Ihrie - Lowe's Companies Inc.
3. Seth Serxner - Mercer
4. Rita Moore - HDMS

Session Coordinator/Recorder:

Karen A. Shelton - UnitedHealth Group

32 - U.K. Pension Reform and its Relevance to the U.S. Pension System

10/24/2006 - 8:00 - 9:40 AM
Credits: EA Noncore 2.00 CPD 2.00

There are many similarities between the U.S. and the U.K. in terms of the challenges faced by their respective pension systems. Both the U.S. and the U.K. face the problems of demographic change, declining DB plans, increasing reliance on DC arrangements, funding shortfalls in DB plans, calls for reforms of Social Security, and a need to address the issue of providing adequate old-age income through a combination of Social Security, DB and DC plans, and individual savings. The British government has recently published its white paper on Pension Reform; it sets out a new structure for the U.K. pensions system and establishes the foundation for a new and lasting consensus on a sustainable long-term pensions system that includes important reforms involving retirement age and mandatory savings arrangements.

Speakers:

1. Kenneth F. Hohman - Bryan Pendleton Swats & McAllister LLC
2. Adrian Waddingham - Barnett Waddingham LLP

33 - Critical Review of the United States Actuarial Profession

10/24/2006 - 8:00 - 9:40 AM
Credits: EA Core 2.00 CPD 2.00

The presenters discuss the recently issued draft report from CRUSAP and the implications for consulting actuaries. Come prepared to discuss, challenge, or even debate the report findings.

Speakers:

1. Lance J. Weiss - Gabriel Roeder Smith & Company
2. Frederick W. Kilbourne - The Kilbourne Company
3. Kenneth A. Kent - Cheiron, Inc.

34 - Another One Bites the Dust -- Dealing with DB Plan Freezes

10/24/2006 - 10:00 - 11:40 AM
Credits: EA Core 0.50 EA Noncore 1.50 CPD 2.00

Your client has decided to freeze their DB plan and adopt a DC only approach. Is it as simple as that? Come and hear the lessons learned by our speakers as they worked with their clients to analyze the alternatives and make the right decision on transition; communicate the change to employees; and manage the unique financial issues that result with a frozen plan.

Speakers:

1. Patricia A. Rotello - Towers Watson
2. Tonya B. Manning - Internal Revenue Service
3. Matthew C. Sicking - Towers Watson
4. William S. Jarboe - Mercer

Session Coordinator/Recorder:

Amy Elizabeth Ayres - Towers Watson

35 - How Can Actuaries Assist their Self-insured Clients with SOX Compliance?

10/24/2006 - 10:00 - 11:40 AM
Credits: EA Noncore 2.00 CPD 2.00

Eager to comply with SOX requirements, clients identify their controls and subject those controls to independent audits. Learn from a risk manager and an actuary on how to identify, document, and test those controls.

Speakers:

1. Marn Rivelle - Rivelle Consulting Services
2. Jenny Novoa - The Gap
3. Chris Toohey - KPMG LLP

36 - Return of the Workshop on Public Employee Retirement Systems (Part 2)

10/24/2006 - 10:00 - 11:40 AM
Credits: EA Core 1.00 EA Noncore 1.00 CPD 2.00

A continuing discussion of the topics that did not fit into the earlier workshop on public employee retirement systems. Topics may include setting actuarial assumptions, DROP, GASB, and OPEB.

Speakers:

1. Martin A. Einhorn
2. Ira M. Summer - Public Pension Professionals Inc.

37 - Consumerism: Carrier Results vs. Employee Perception

10/24/2006 - 10:00 - 11:40 AM
Credits: CPD 2.00

How do employee reactions to employer efforts to introduce consumerism mesh with carrier reported results? Carrier representatives and employers present what works and what doesn’t.

Speakers:

1. L. J. Mac McCarthy - McCarthy Actuarial Consulting
2. David M. Tuomala - OptumInsight
3. Brad Bailey - Houston Independent School District
4. Vishal Agrawal - McKinsey & Company

Session Coordinator/Recorder:

Karen A. Shelton - UnitedHealth Group

38 - Professionalism "Potpourri"

10/24/2006 - 10:00 - 11:40 AM
Credits: EA Core 2.00 CPD 2.00

If you would like to enhance the quality of your work by discussing current professionalism topics with your learned peers, this session is for you. Come prepared to ask questions and share your opinions and ideas.

Speakers:

1. Lance J. Weiss - Gabriel Roeder Smith & Company
2. Mary Downs - American Academy of Actuaries
3. S. Aquil Ahmed - Actuarial Retirement Services, LLC
4. Thomas S. Terry - TTerry Consulting LLC
5. William F. Bluhm - Milliman Inc.

39 - IFRS vs. U.S. GAAP for Employee Benefits

10/24/2006 - 10:00 - 11:40 AM
Credits: EA Noncore 2.00 CPD 2.00

Forget U.S. GAAP, IFRS is becoming the standard in valuing and accounting for employee benefits in America and abroad. IAS 19 covers all benefit plans (but stock options), while U.S. GAAP includes as many as a dozen statements and opinions. From a stable P&L objection, the objective is full accrual/transparency globally.

Speakers:

1. Richard G. Lemieux
2. Cindy Marie Fraterrigo - PricewaterhouseCoopers LLP
3. Richard Davis - PricewaterhouseCoopers LLP

40 - Hot Topics in DC

10/24/2006 - 10:00 - 11:40 AM
Credits: EA Core 0.50 EA Noncore 1.50 CPD 2.00

Companies are placing increased importance on defined contribution plans and there’s been considerable activity on the DC front in recent months. Speakers at this session cover the hot topics impacting the design of plans including automation, Roth(k), the role of company stock, annuitization, disability protection, advice, and an update on recent legislative and regulatory activity. In addition, we’ll discuss several case studies of employers modifying their retirement program to focus on DC plans, including determining objectives, design alternatives, final design, and implications for the company and its employees.

Speakers:

1. Laurel S. Ludden - VALIC
2. Alice Pegel Stuart - Towers Watson
3. William T. McClain - Mercer
4. Robert J. Reiskytl - Aon Hewitt

Session Coordinator/Recorder:

Robert C. Ridge - Mercer

41 - Do The Right Thing

10/24/2006 - Noon - 2:05 PM
Credits: EA Core 2.50 CPD 2.50

In this session, the panel discusses how to apply the Code of Conduct to everyday activities. How can we better meet the needs of our publics? Case studies and possible responses are discussed.

Speakers:

1. Tonya B. Manning - Internal Revenue Service
2. Mary Downs - American Academy of Actuaries
3. John H. Moore - TTerry Consulting LLC

42 - Circular Logic

10/25/2006 - 7:30 - 8:45 AM
Credits: EA Core 1.50 CPD 1.50

Ensuring that attorneys, accountants and other tax professionals, including Enrolled Actuaries, adhere to professional standards and follow the law is one of the IRS’ top enforcement goals. Circular 230 provides Standards of Practice for written tax advice. Final regulations reflect current best practices for tax professionals. Speakers in this session explore Circular 230 and its applicability to actuaries.

Speakers:

1. Stephen N. Eisenstein - The Newport Group
2. John H. Moore - TTerry Consulting LLC
3. Richard Snelson - Ernst & Young, LLP

43 - GASB: Ready or Not, Here It Comes!

10/25/2006 - 7:30 - 8:45 AM
Credits: EA Noncore 1.50 CPD 1.50

For the first time, public employers will need to disclose retiree medical costs on an accrual basis. Nationwide liabilities for state and local governments are estimated to exceed a trillion dollars. In this session the panel explores the following issues:

Speakers:

1. John J. Bauer - Milliman Inc.
2. Jill M. Urdahl - Hildi Incorporated
3. Brian L. Whitworth - J. P. Morgan Securities Inc.

Session Coordinator/Recorder:

Gary M. Koscielny - Cynomys, Inc.

44 - Consumerism: Market Evolution

10/25/2006 - 7:30 - 8:45 AM
Credits: CPD 1.50

How are medical plans evolving to incorporate consumerism? How are account-based CDHPs changing? What do new players bring to the market?

Speakers:

1. L. J. Mac McCarthy - McCarthy Actuarial Consulting
2. Brad Bailey - Houston Independent School District
3. David M. Tuomala - OptumInsight

Session Coordinator/Recorder:

Karen A. Shelton - UnitedHealth Group

45 - COPLFR Update

10/25/2006 - 7:30 - 8:45 AM
Credits: CPD 1.50

Learn what changes actuaries must implement for 2007 when rendering loss reserve opinions.

Speakers:

1. Charles F. Cook - FTI Consulting

46 - Everything You Ever Needed to Know About Stock Compensation

10/25/2006 - 7:30 - 8:45 AM
Credits: EA Core 0.75 EA Noncore 0.75 CPD 1.50

Small employers have different goals and needs. These differences impact design, funding and communication of plans. IRC sections produce unique situations. Come and share your experiences with others who have a client, who is the employer and the primary participant.

Speakers:

1. Stanley H. Tannenbaum - The Benefit Practice
2. J. Gregory Gaston - J. G. Gaston & Associates Inc.
3. Steven J. Levine - Steven J. Levine LLC

47 - Stop the Rising Tide Through Creative Plan Design

10/25/2006 - 7:30 - 8:45 AM
Credits: EA Core 1.50 CPD 1.50

Despite the movement away from defined benefit plans that we’ve seen this year, a DC only approach is not the answer for every company. Alternative defined benefit plan designs can mitigate many of the risks that employers are looking to eliminate. Our speakers share recent design success stories and they address the future, if any, of hybrid plan designs and what plan designs might take their place.

Speakers:

1. Patricia A. Rotello - Towers Watson
2. James F. Knopping - Towers Watson
3. Donald E. Fuerst - American Academy of Actuaries

Session Coordinator/Recorder:

Amy Elizabeth Ayres - Towers Watson

48 - Healthcare Quality -- Can It Be Measured and Managed?

10/25/2006 - 9:05 - 10:20 AM
Credits: CPD 1.50

Improvement of quality and reduction of waste is crucial to the control of health care costs. Listen to an actuary, a doctor, and a health information company executive discuss efforts to define, measure, promote, and incent quality in health care. Topics covered include: pay-for-performance, the challenges associated with quality measurement, and the impact of incentive programs on quality, practitioner behavior, and cost.

Speakers:

1. Stuart H. Alden - Towers Watson
2. Marla A. Cellucci
3. Dr. Rome H. Walker - Anthem Blue Cross Blue Shield of VA

49 - Pension Reform -- Now That We Have It -- How Does It Work?

10/25/2006 - 9:05 - 10:20 AM
Credits: EA Core 1.50 CPD 1.50

Panelists discuss the new legislation and its implications for pension consultants, plan participants, and plan sponsors. Gray areas needing guidance from the IRS are also discussed. This session is a repeat of the Tuesday Special Session.

Speakers:

1. Brian C. Donohue - October Three LLC
2. Heidi Rackley - Mercer
3. Martin Pippins - Internal Revenue Service

Session Coordinator/Recorder:

Jeffrey Bruce Whittaker - Towers Watson

50 - Stock Option Valuations -- Stories from the Front

10/25/2006 - 9:05 - 10:20 AM
Credits: EA Noncore 1.50 CPD 1.50

Now that we have done some stock option valuations, what are the lessons learned? What do we wish we had thought of sooner? What is emerging experience? Presumes familiarity with “Stock Options for Dummies.”

Speakers:

1. John T. Stokesbury - Deloitte Consulting LLP
2. Stacy Powell Litka - Owens Corning
3. John E. McArthur - Radford Valuation Services

51 - Self-insurance Pool Solvency Tests

10/25/2006 - 9:05 - 10:20 AM
Credits: CPD 1.50

IRIS tests can be used as early warning systems to identify potentially weak insurers. IRIS tests per se do not work well assessing solvency for pools. Are there other reasonable financial ratios applicable to pools to assess a pool’s financial condition?

Speakers:

1. Marn Rivelle - Rivelle Consulting Services
2. Mujtaba H. Datoo - Aptex/Aon Global Risk Consulting

52 - Analyze This: How Wall Street Views Retirement Obligations

10/25/2006 - 9:05 - 10:20 AM
Credits: EA Noncore 1.50 CPD 1.50

Retirement obligations continue to impact corporate financial statements and are emerging as significant issues for many public entities. An equity and bond rating analyst discuss how retirement obligations impact their analysis.

Speakers:

1. Jason T. Flynn - Deloitte Consulting LLP
2. Kristin Stephens - Aon Hewitt
3. Rohit Mathur - Moody's Investors Service

53 - Section 415: Take It to the Limit One More Time

10/25/2006 - 9:05 - 10:20 AM
Credits: EA Core 1.50 CPD 1.50

The IRS has released the much anticipated, consolidated 415 guidance. The rules have been both liberalized and restricted. Speakers explore how to navigate the new rules.

Speakers:

1. Scott A. Hittner - October Three LLC
2. Richard A. Block - Block Consulting Actuaries Inc.

54 - How Does Our Garden Grow?

10/25/2006 - 10:40 - 11:55 AM
Credits: CPD 1.50

Participate in this roundtable discussion to identify challenges we face in serving clients today. This session also allows us to learn from one another and how to address those challenges.

Speakers:

1. Alfred O. Weller - Weller Associates, Inc.

55 - Drug Trends Down at Last! What Worked? What's Next?

10/25/2006 - 10:40 - 11:55 AM
Credits: CPD 1.50

We have been trying to manage Rx costs for years and trends have been moderating recently. What programs have worked and offer the best ROI? What will emerge in the next five years? Speakers in this session review programs that have been successful in reducing drug costs and look at upcoming problems and future initiatives.

Speakers:

1. John J. Bauer - Milliman Inc.
2. Nick Vasilopoulos - Medco Health Solutions, Inc.
3. Matthew Gibbs - Aon Hewitt

56 - Phased Retirement -- The Way of the Future

10/25/2006 - 10:40 - 11:55 AM
Credits: EA Noncore 1.50 CPD 1.50

Discussion of the practical issues and fairness and the impact of changing demographics on acceptance of phased retirement are the main topics for this session. The speakers at this session also review the regulatory issues arising from phased retirement and the experience to date of those organizations using phased retirement.

Speakers:

1. Martin A. Einhorn
2. Kyle N. Brown - Towers Watson
3. Martha Priddy Patterson - Deloitte Consulting LLP

57 - Dialogue with the IRS

10/25/2006 - 10:40 - 11:55 AM
Credits: EA Core 1.50 CPD 1.50

This is an excellent opportunity for attendees to ask questions and discuss important developments with IRS representatives. This is your chance to (possibly) get answers to the questions that have been troubling you.

Speakers:

1. Donald J. Segal
2. Martin Pippins - Internal Revenue Service

58 - Asset Liability Management - The Old and the New

10/25/2006 - 10:40 - 11:55 AM
Credits: EA Noncore 1.50 CPD 1.50

The recent low return world and pension crisis have increased the focus on better matching assets and liabilities. Speakers in this session review the evolving role of asset liability management for pension funds.

The speakers shall attempt to answer the following: