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Program Schedule
1 - A Second Look at the Books of
Color – Gray, Blue and Green Experienced practitioners lead a review of government responses to the Gray, Blue and Green Books. The panelists discuss the practical implications of the answers and any new information developed since the 2008 EA Meeting.
7:00 - 11:00 PM
7:00 – 8:00 AM
8:00 – 10:15 AM
2 - General Session
10:15 – 10:35 AM
3 - Primary PPA Analysis PPA Update - Regulations have been flowing in with regards to AFTAP, certification, Sections 430 and 436. The panelists review the regulations as we understand them to date. 4 - "Pot"pourri
of Prescription Drug Benefit Issues The presenters discuss a variety of issues that impact prescription drug coverage; including: moving away from AWP, the emergence of $4 drug programs, transparency, and drugs in CDHP plans. 5 - ASOPs for
Pension Actuaries The panelists discuss actuarial standards of practice generally applicable to pension work. The panelists focus on ASOPs applicable to AFTAP certifications, ASOP 23 (regarding data) and revised ASOP 4 (measuring pension obligations). 6 - Responding to
Challenges in Public Pension Plans The speakers examine the current state of public pension plans in the US, including a discussion of the challenges and criticisms they are facing. Presenters then focus on how a disciplined review of funding policies and financial disclosures might reveal some causes and provide some solutions to those challenges. 7 - When Two Plans
Are Better Than One: Enhanced Opportunities for Small Employers for
Combined DB/DC Plans PPA has relaxed the limitations of IRC Section 404(a)(7) regarding tax deductions for some combined plans. Come learn how small employers have added or changed plans during 2008 to produce best possible results. 8 - Healthcare for
Dummies (Pension Actuaries This is for You!) As a pension actuary, have you ever wondered what your healthcare colleagues do? The panelists help you begin to understand the ins and outs of healthcare consulting. Come prepared to ask those questions you've been dying to ask. 9 - Where in the
World is Defined Contribution Really Defined Contribution? A survey of "defined contribution" plans around the world. How do they operate? Would they be considered DC in the US? Where are they popular, where are they not, and why? 10 - It's Time to
Abolish Retirement (and Here's How to Do It) One of the most thought provoking papers under this title is discussed and debated. Be prepared to leave this session changed. Paper originally presented at the Institute of Actuaries of Australia.
11 - Late Breaking
Developments 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: PPA, 2008 legislation, guidance from the IRS, DOL, Treasury and court decisions. 12 - "Only the
Good Die Young" -- Helping DC Plan Participants Manage Longevity Risk As DC plans become more prominent, the possibility of outliving one’s assets becomes more real. The panelists discuss emerging solutions and products including (but not limited to) rollover, accumulation phase annuities, and (greatly) deferred annuities which address the "best case" of living a really long time. 13 - Plan Design
Under PPA For defined benefit plans, PPA introduced new funding rules, benefit restrictions and assumptions for calculating minimum lump sums, to name a few. New rules were introduced regarding conversions to hybrid plans and satisfaction of age discrimination requirements. Subsequent guidance from IRS amplified some of the new rules, and raised questions about others. What plan design changes are we seeing now or can we expect to see in the future as a result? What plan sponsor objectives are thwarted by the new rules? What objectives have been made more readily attainable? 14 - Claim
Reserving Methods: A Report from the SoA The project manager for the Society’s study of health claim reserving methods presents an overview of that report. A leading consultant provides his reaction. Learn how the most common IBNR methods compare for accuracy and relevance. 15 - “You Would
Know This…” and Other Cocktail Party Conversations for Actuaries Does your sister ask you for advice on her 401(k)? Do your parents want you to navigate Medicare Part D for their bridge club? Actuarial topics -- from retirement security to healthcare policy to executive pay and more -- are becoming more prevalent in the morning paper and the nightly news. Come discuss actuarial issues in everyday life and make being an actuary a conversation starter, not a conversation stopper. 16 - Accounting
Update - The Quest for Transparency Momentum is building toward using International Financial Reporting Standards (IFRS) for US GAAP purposes with possible convergence by 2012. The SEC is already willing to accept IFRS statements for foreign companies with US operations. Additionally under US GAAP, we have measurement date changes for FAS 158 disclosures for fiscal years ending after December 15, 2008. The speakers provide attendees with an update on convergence and application of the accounting standards. 17 - The Real
World: ERM What happens when companies stop ignoring risk and start getting real? Enterprise Risk Management (ERM) focuses on all aspects of risk facing a company. Here is an opportunity to learn more about one of the fastest growing concepts in risk management and see how it works in practice. 18 - What Are
Health Plans Offering Retirees? Open dialogue with major national health plans and their plans for providing health insurance to the baby boomer retirees. Key issues for discussion include new initiatives for employer-sponsored plans, individual offerings to both Medicare and non-Medicare retirees and Medicare Advantage and Medicare Prescription Drug plan offerings.
19 - VEBAs and the
Transfer of Risk - "Why Shouldn't Everyone Do What GM Did?" VEBAs started as tax savings vehicles. They are now headlining as effective risk transfer arrangements. Find out how this works and what we've learned about operating them. 20 - Multiemployer
Plans Session and Workshop 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. 21 - The Latest
and Greatest in Pension Investment Strategies With changes to the pension funding requirements and more accounting changes likely to occur, pension plan sponsors are continuing to look at new investment strategies to help manage the funded status volatility and/or enhance the risk/return profile of their plans. The speakers discuss hedging strategies, liability driven investments and other new alternative investments plan sponsors are implementing or are considering to do so. 22 - Give Me a
(Long-Term Trend) Break! Everything You Want to Know About the SoA Trend
Model but Didn’t Know Who to Ask The Society of Actuaries sponsored a research project to develop a long term healthcare trend model that can be used for retiree health liability projections. Auditors will likely refer to the model to review the reasonableness of retiree health trend assumptions. This session features two members of the SoA project oversight group who discuss the following: • Description of the model; 23 - Controlling
Mental Health Coverage Costs The medical claims cost of addiction and mental health problems in the workplace are just the “tip of the iceberg” — actual costs are far higher, and include such costs as reduced productivity, lost time and disability income costs, worker replacement and training costs, and other impacts on coworkers and family members that are difficult or impossible to measure in simple economic terms. The speakers discuss the social and economic aspects of addiction and mental health in the workforce. Come learn about some of the latest efforts on the part of employers and government in Canada to address these problems and see how these principles may be applied in the US. 24 - "Help, I Need
Somebody, Help, Not Just Anybody" – How to Help DC Plan Participants
Achieve Success A number of studies have shown that DC participants don't invest enough, invest in the wrong funds, and change investments at the wrong time. How can plan sponsors address these issues while still maintaining their fiduciary prudence? 25 - ERISA
Jeopardy XV – “Actuarial Smackdown” Come join us for this year's version of the popular challenge. The actuarial contestants wrestle with ERISA and PPA, no holds (or restrictions) barred. 26 - Plan Design
by Small Employers After PPA Workshop The Internal Revenue Code and Regulations have historically restricted the ability of small employers to design optimal plans. PPA has added more code and regulations. Come discuss what has been added and what has been taken away.
7:00 – 8:00 AM 27 - Workshop on
Public Employee Retirement Systems (Part I) Come join an open forum to exchange ideas, information and experiences on current topics of interest to actuaries who work with public employee retirement systems. Topics for discussion may include actuarial assumption, plan design trends and more. 28 - PPA - Please
Provide Advice! Despite the new law being fully in effect, there are a number of questions surrounding its application. Speakers explore the top outstanding issues with respect to funding calculations, benefit certifications, statutory hybrid plans, and more. 29 - Wide World of
Pensions - A Trip Around the World The presenters look at foreign trends in pension plans highlighting different countries such as the UK, Germany, Australia, Japan, Netherlands, China, Mexico and Canada. How are retirement programs in these countries different from the US? What are the funding requirements? What types of government sponsored retirement programs are there? Is it common to have individual retirement savings and is it encouraged by the governments of these countries? 30 - Hot Topics in
Executive Compensation With the proliferation of executive compensation (EC) regulations, including constraints imposed by the PPA and 409A, actuaries are necessarily called upon to consult. Presenters and participants discuss EC "hot topics" that actuarial consultants need to understand. 31 - Bending the
Line – Employer Initiatives to Control Healthcare Costs The session is designed to help consultants answer the question "What are other employers doing?" The panelists present survey results showing key initiatives by Fortune 500 and/or future considerations along with employer case studies as well as an open forum to exchange ideas, information, and experiences on the topic. 32 - How’m I
Doing? A satisfied client is the best source of new business. Understanding your clients’ needs, becoming their trusted advisor and getting honest actionable feedback on their satisfaction is critical to consulting success. Come learn effective techniques for becoming your clients’ trusted advisor. 33 - Millennium
Actuaries: What the SoA is Teaching Our Kids? After walking ten miles uphill to each actuarial exam sitting, we proudly say that we attained our credentials when the exam systems were hard! Not so fast, boomers. Today's actuarial students are learning more diverse, cutting-edge content then ever. Moreover, the most recent phase of updates includes opportunities for continuing education. Come hear from actuarial students in the thick of the new system and the SoA on the expansion of their online educational offerings. This session concludes with a discussion of how to best leverage and empower the actuarial youth, inspiring their growth from technicians to consultants. 34 - How is
Consumerism Impacting the Future of Healthcare? Cost/Quality,
Transparency and Other Issues Consumerism in healthcare is prompting demand for provider cost and quality information. How is the health industry responding to this demand? What more should they be doing? What other consequences of consumerism are likely to emerge? Are there things that employers and participants can do to accentuate positives while minimizing potential negatives? First, we’ll hear the views of a physician and an actuary who have been on the forefront of these issues. Then we’ll open the floor for a lively discussion of your questions, opinions, experience, hopes, fears and suggestions. 35 - Working with
the PBGC - A Practical Business Guide for Consultants Hear from the PBGC’s former Assistant General Counsel for Legislation and Regulations on strategies to follow and pitfalls to avoid when dealing with a broad range of PBGC-related issues, including premiums, audits, penalties, reporting, and terminations. Representatives of the PBGC will be available to answer your questions. 36 - "Polly Want a
QACA?" - Hot Topics for DC Plans What is QACA and why might DC plan sponsors want to be one? Join us for a lively discussion on DC hot topics, including QACA, EACA, QDIA, company stock, plan governance, Roth 401(k) and fee disclosure. 37 - Workshop on
Public Employee Retirement System Strikes Back (Part II) Continuing discussion of topics that were not covered in the earlier session on public employee retirement systems. Topics may include setting actuarial assumptions, reporting and disclosure, valuation and funding of DROP and OPEB. 38 -
Superannuation and its Discontents The panelists review the changes that have occurred to the superannuation (pension) market in Australia over the past decade or more and how the roles for actuaries have changed over this period, especially due to the dramatic reduction of defined benefit plans. All pension funds in Australia are now required to regularly review risk management frameworks and plans. 39 - Prescription
Drug Programs: Plan Design and Pricing The speakers cover the latest trends in the design of prescription drug programs and discuss estimated costs, Rx programs including trend components, pricing actives vs. retirees, accounting for rebates, formularies, and new drugs in the pipeline. 40 - Moving Away
from the Doctor’s Office: Healthcare in Non-traditional Settings As purchasers of healthcare continue to be faced with increases in cost that exceed both the growth in the overall economy and the increase in wage rates, they are looking for care in locations other than their local doctor's office and hospital. They are seeking care from providers in non-traditional locations - both in their home towns and overseas - and they are looking for care through nontraditional approaches. Learn about care provided locally by providers in retail locations and at the worksite, about care directed remotely through tele-medicine, and about care provided overseas through "health tourism." 41 - Financial
Economics: The SoA Module in 100 Minutes Following from the Millennium Actuaries session covering the new exam system, learn selected content from the Financial Economics module. This session is designed to be boomer-friendly! 42 - Actuaries
Behaving Badly Speakers discuss hypothetical situations based loosely on actual cases that resulted in counseling or disciplinary action by the Actuarial Board for Counseling and Discipline (ABCD). This interactive session presents the audience with case "facts" and asks participants to determine the appropriate level of discipline. A networking meeting hosted by the CCA’s Committee for Smaller Actuarial Consulting Firms is scheduled from 3:00 to 6:00 PM. Anyone interested is invited to stop by, meet, and discuss small firm issues, news, and outlooks.
7:00 – 7:30 AM
43 - Oops! I Did
it Again! – Correction Programs - How to Fix a Qualification Breakdown We all know how difficult it is for a qualified plan to remain 100% compliant in operation. What happens if there is a compliance breakdown? The panel looks at the IRS correction programs – SCP, VCP and Audit CAP – that enable a plan to remain tax-qualified. 44 - The Art of
the Deal – Due Diligence in Employee Compensation and Benefit Issues Mergers and acquisitions present a host of issues that are of great importance to the buyer, the seller, the shareholders and the employees of the organizations involved. Topics to be discussed include the measurement of liabilities for executive compensation and benefits, including 280G calculations; measurement of pension and postretirement medical obligations; asset versus stock transactions; identification of compliance issues and resolution; and international transactions. 45 - Resurgence of
Hybrid Plans: Does One Size Fit All? A lot of the uncertainty around hybrid plans has been addressed by the courts and PPA. Will hybrid plans again become popular? The panelists review the events of the past few years and discuss characteristics of a workforce that line up well with the different hybrid designs. 46 - Dialogue with
the IRS This is an excellent opportunity for attendees to ask questions and discuss important developments with the IRS. Don’t miss your chance to (possibly) get answers to the questions that have been troubling you. 47 - GASB 43/45:
In the Trenches Get down to the actuarial nitty-gritty with your peers. No speakers but you. No topics but yours. E-mail your topic suggestions to conference@ccactuaries.org before October 10th. 48 - Consultants’
Increasing Liability with Stop Loss Coverage A $2,000,000 claim is no longer uncommon especially when you consider the high-tech medical and pharmacy pipeline. Forecasting future costs is more complicated than ever before. Panelists discuss the environment of large claims; trends, key medical conditions, high-tech pipeline, underwriting techniques, and risk models. They also discuss stop loss policies including a policy overview, when use of stop loss is recommended, creative policy features, omissions/limitations, and how best to communicate limitations to employers. 49 - Actuaries in
Investment Banking: Tales from the Dark Side Long hours. Sleepless nights. Fierce competition. These may be on the list of popular stigmas associated with investment banking, but we can’t deny that innovation and financial sophistication belong on that list as well. Enter actuaries, who have infiltrated banking organizations to contribute to the development of investment and other solutions for defined benefit pension plans. From customized duration hedges to longevity hedges, and looking forward to a market for pension buy-outs, investment banks are at the cutting edge and are looking to pension actuaries to keep them there. This panel of pension actuaries working in investment banking discuss their roles in the context of the latest DB plan solutions.
50 - PPA -
Practical Plan Application This interactive session provides attendees a chance to share their experiences in complying with the new law in light of the less than complete guidance. Speakers share their insights and facilitate the discussion. Participants should come prepared to discuss interesting and unique situations they have encountered in their efforts to follow the new law. 51 - Unmasking the
Myth: Risk Transfer, Insurance Companies, and Annuity Pricing Is your client worried about the risk associated with their pension plan? Is their pension plan becoming a drain on the company? Come to this session to learn how a full or partial transfer of pension risk to an insurance company may be beneficial, gain insight into how insurance companies price annuities and the factors involved, and listen to a company representative's success story. 52 - Communicating
Uncertainty Communicating uncertainty is a consulting skill we should always strive to improve. Actuaries from various practice areas share their approaches. This non-PowerPoint session should not be missed! 53 - Managing
Disease Management Disease Management and Health Promotion are often cited as essential elements of employer provided health plans, but solid evidence of their effectiveness is lacking. How does an employer decide which programs are right for them? How do they know what's working? Is ROI the right measure? A physician and an actuary, both on the cutting edge of this important issue, share their thoughts and recommendations about health and disease management. 54 - GASB 43/45 --
So, What's The Right Answer? Come discuss unanswered or borderline responses from the earlier GASB 43/45: In the Trenches session. 55 - The Future of
Equity Compensation The panelists discuss the evolution of equity compensation since FAS 123R adoption, including emerging designs and valuation methodologies. 56 - Pension Plan
Expenses: Flying Under the Radar? Service provider compensation from 401(k) plans has been in the news lately and is the center of several law suits. Flying under the radar are pension plans that have not had this scrutiny. From an investment structure perspective, there are more similarities than differences with 401(k) plans. In this session we uncover the effects of these fees on actuarial assumptions. The panelists from Thompson Hine and Fiduciary Risk Management discuss important issues relating to pension plan fees and provider compensation. It’s an important session you’ll not want to miss! 57 - Actuarial
Education Down Under Come hear how the Australian Institute of Actuaries has responded to changes to the pensions market, including the rapid decline of DB plans, and increasing regulatory emphasis on risk management. These developments have lead to radical reforms in the education of future actuaries.
58 - Courting Danger and Other Risks
of Expert Testimony The closing General Session is a fun interactive session, where one of the leading actuarial attorneys grills several actuaries in different testimony scenarios. The speakers in the session illustrate the perils and traps that even the most experienced actuarial practitioner may run into when being deposed or cross-examined in a legal proceeding. If you would like to know what you might expect from testifying on actuarial issues in a legal proceeding, or just want to see some of your peers pitting their wits against an experienced attorney, this thought-provoking and entertaining session is not to be missed.
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© 2008 Conference of Consulting Actuaries. All rights reserved. |
