In this introductory session, an overview seminar, introducing the topics and speakers, the current state of retirement plan investment management, megatrends in the industry, etc. How best to consult and help clients in a future that is DC oriented – the risks participants face are still there and how best to solve them is discussed as well.

Moderator: Daniel P. Cassidy
Speakers: Phil Davis, Barry S. McInerney

Speakers introduce the basics of asset liability management. This is the first of two sessions explaining the tools, techniques, and methods behind asset liability management.

Moderator: Andrew Wozniak
Speakers: Aaron R. Weindling, Dean W.  Kepraios, Richard O. Giberson

In this part, speakers advance the topic beyond the basics discussed in Part 2. How do you take asset liability management beyond the basics? What measures of risk should you use? What can we learn from our insurance company brethren – tail management, probability of ruin, etc.?

Moderator: Andrew Wozniak
Speakers: Aaron R. Weindling, Richard O.  Giberson, Gordon Latter

Thursday, May 18 - 10:00 - 11:30 AM

With investment issues dominating the minds of plan sponsors, consultants need to be able to understand the impact of any advice they give. Is the advice they give considered investment advice or just simply education? Where do you draw the line? Should actuaries become registered with the SEC? How do users (plan sponsors) of investment consulting services evaluate providers and the impact these services have on their plans and participants?

Moderator: Daniel P. Cassidy
Speakers: Pat Aulson, Barry Cowan, Wayne Secore

Portable alpha, hedging, environment risk factors, liability driven investing: plan sponsors are being inundated with a tremendous number of strategies, methods, and approaches. How do these methods, strategies and approaches address plan sponsors’ fiduciary duty and the reality of today’s capital markets? Are these just fads, long term solutions, or are we moving to a focal point that will change retirement plan investing forever?

Moderator: Daniel P. Cassidy
Speakers: Bill Page, Michael M. Hall, Gregory Curran

This is a comprehensive primer on labor cost accounting, covering the
following topics, among others:

• The income statement, balance sheet and pertinent
  sub-accounts;

• Accounting for pensions and retiree healthcare;

• Identification and treatment of other (non-pension, non-retiree
  medical) labor costs; and

• Intangible assets, other comprehensive income, goodwill and
  other buzz terms.

Moderator: Joshua David Bank
Speakers: Stacy Powell, Raymond S. Lucas, Erwin S. Janush 

The speakers address local and global trends in labor cost
accounting, including:

• Accounting for stock based compensation: FASB Nos. 123 and
  148;

• Mark to market and other trends away from “smoothing”;

• Convergence (and divergence) of global accounting standards;
  and

• Sarbanes-Oxley and SAS73.

Moderator: Joshua David Bank
Speakers: Stacy Powell, Raymond S. Lucas, Erwin S. Janush 

Speakers examine various types of transactions such as purchase, pooling, asset purchase and holding companies. Topics include:

• Purchase accounting for different types of transactions;

• What the buyer needs to know about the target’s labor cost
  structure; and

• Pre- and post-merger compensation and benefit restructuring
  alternatives.

Moderator: Joshua David Bank
Speakers: Stacy Powell, Raymond S. Lucas, Erwin S. Janush 

Breakout groups look at various case studies from the view of actuary, accountant, buyer, and seller to present a brief due diligence overview.

Moderator: Joshua David Bank
Speakers: Stacy Powell, Raymond S. Lucas, Erwin S. Janush 

The speakers look at changing conditions and consider the background in which society, employers and individuals must adjust their view of work and retirement in the 21st century.

Moderator: Emily K. Kessler
Speakers: Sandy MacKenzie, David Blitzstein

Given changing conditions, hampered by current regulatory restrictions, what should you be looking at today to help your clients evolve their systems for tomorrow? Phased retirement and alternative DB and DC designs are addressed.

Moderator: Kenneth A. Kent
Speakers: Ronald Gebhartsbauer; Donald E. Fuerst, Michelle Quinlan

What are the risks that individuals face in retirement and how do
employees prepare for and retirees manage these risks? How do these risks shape the design? As employers transfer more risk to employees, it helps to know what employees do and don’t understand to improve the effectiveness of employee communications and plan design. The speakers at this presentation focus on various research and survey results from the SOA’s 2005 Risks & Process of Retirement Survey and retiree focus groups.

Moderator: Anna M. Rappaport
Speakers: Steven Nyce, Eric T. Sondergeld

This presentation continues the discussion from Part 3 with an interactive panel focusing on the response to the results from various stakeholders and looks at issues for employers, planners and the public.

Moderator: Anna M. Rappaport
Speakers: Betty Meredith, Mary Nell Billings, Steven Nyce

Explore ideas for redesigning our existing retirement systems and
re-evaluate how employment should progress through a worker’s lifetime. Highlights from the recent papers submitted in response to the SOA call for papers and Symposium on Re-envisioning Retirement are shared.

Moderator: Robert L. Brown
Speaker: Emily K. Kessler

The concluding part is a round table discussion on what issues to bring to your clients/plan sponsors regarding the future of retirement programs. We’ll discuss what you think are characteristics of a successful 21st century retirement system. What research is needed, what plan design ideas are emerging, what does the actuarial profession need to communicate to the public, what to ask of Congress to shape retirement programs?

Moderator: Robert L. Brown
Speakers: David Blitzstein, Betty Meredith, Mary Nell Billings

Speakers at this section discuss regulatory and communication issues
associated with freezing a plan, including the following:

• Types of plan freezes – freezing all accruals, freezing service,
  closing membership to new entrants;

• Design and cost considerations for a successor defined
  contribution plan;

• Implementing a plan freeze; and

• 204(h) notices.

Moderator: Bruce R. Nordstrom
Speakers: Russell G. Gully, Pat Aulson

Speakers cover ongoing administration of a frozen plan and nondiscrimination issues. Topics include:

• Coverage and participation requirements;

• Benefits rights and features;

• General nondiscrimination;

• Other uses for a frozen plan (e.g., early retirement windows);

• Ongoing employee communications; and

• The costs/benefits of maintaining a frozen plan.

Moderator: Bruce R. Nordstrom
Speakers: Russell G. Gully, John Snygg  

Speakers cover financing and investment issues. Topics include:

• Investment considerations;

• Funding requirements and volatility; and

• Accounting issues.

Moderator: Bruce R. Nordstrom
Speakers: Russell G. Gully, Michael M. Hall

Moderator and Speaker; William J. Falk
Speakers: Lauren Bloom, Marcus Robertson

Expands to provide information on US, UK and the Morris Report.

Moderator and Speaker; William J. Falk
Speakers: Lauren Bloom, Marcus Robertson

ERM is a strategy organizations can use to manage the variety of strategic, market, credit, operational and financial risks they confront. ERM calls for high-level oversight of risks on a portfolio basis, rather than discrete management of each individual risk. The speakers provide an overview of the underlying principles of ERM and how they can be understood and applied to corporations that sponsor defined benefit plans. The panelists discuss the ERM process and how it can be applied to help plan sponsors manage, mitigate and retain plan risks as part of a strategy that encompasses all corporate financial and operational risks.

Moderator: Tonya B. Manning 

The discussion focuses on how a plan sponsor’s pension plan and it’s
inherent risks are viewed by outside parties. How do equity markets bring DB pension plan assets and liabilities into their pricing? How do equity analysts view the risks, costs, and opportunities of DB plan sponsorship? How do credit analysts look at pension risk? What is the future of pension accounting?

Moderator: Tonya B. Manning 

In the final part, speakers examine ways we, as consultants, can help our clients understand both the value and the risk inherent with their DB plans and how they might integrate these values and risks into an enterprise-wide framework. The panelists also discuss how current regulatory constraints stand in the way of value-added design and limit the ability to manage risk.

Moderator: Tonya B. Manning 

Thursday, May 18 - 8:00 - 9:30 AM

EA Noncore 1.8
PD 1.50

There is a new requirement on the block that the majority of employee benefits actuaries need to know and understand. You probably give “federal tax advice” every day. New rules now govern the way you formulate your advice, disclosures required to be given with your communications, and advice you give with respect to qualified plan transactions. The new requirements are addressed along with practical tips for efficient compliance.

Moderator: John H. Lowell
Speaker, Richard L. Davenport

A panel of high ranking IRS officials field your questions on a number of challenging issues. Don’t miss your chance to get an answer to the question that’s been puzzling you.

Moderator: Donald J. Segal
Speakers: Two representatives from the IRS

* This session occurs on Thursday and Friday for different credit amounts
(due to the length of the session):

Credit for Thursday, May 18th Session - EA Core 1.8, PD 1.50
Credit for Friday, May 19th Session - EA Core 1.50, PD 1.25

The panel highlights hot new issues, regulations, and rulings from the IRS, DOL, and PBGC. They also emphasize the practical application of these new developments and their effect on client consulting assignments.

Moderator and Speaker: Donald J. Segal 

The panelists at this session examine the current state of pension funding reform. If legislation has been enacted, the panelists address the expected effects of the changes, how plan sponsors are reacting, and whether the desired objectives of the changes are being/will be met.

Moderator and Speaker: Donald J. Segal