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2005 Pension Symposium -
Pension Funding Reform Wednesday, April 6 Five years ago, the United States’
private pension system
was the envy of the world. Today, that very same system is
in a state of uncertainty. Many pension actuaries and other
pension professionals can quickly point to specific aspects of
the law as the culprit, and/or they can point to an
unfortunate confluence of circumstances in the economy that got us to
where we are today. There has been ample debate over the
proper solution to the
pension funding challenges. While we can all come up with
band-aid remedies to immediate concerns, we need to
determine what is best in the long run. In our kick-off session, General
Session 3 from the EA
Meeting, a panel of distinguished professionals representing
employers, employees, and the government addressed these
key questions: Can pension funding reform
contribute to the survival and even the reinvigoration of pension
plans? If so, then what would this reform need to look like? Can pension funding reform be the
mechanism for
enhanced retirement security in the US? The Symposium immediately follows with
thought provoking
sessions Wednesday afternoon and Thursday morning. The
Symposium is designed to bring together both actuaries and
policy makers with an interest in developing potential
solutions. The Symposium presenters address these
four key areas: 1. Solvency. From the vantage
point of participants – and
the PBGC – how do we achieve the level of funding security
such that participants can be assured they will receive
promised benefits? 2. Predictability. From the
vantage point of management,
how do we create a manageable and predictable financial
commitment for those employers choosing to sponsor
pension plans? 3. Transparency. From the vantage
point of shareholders
and the public, how do we create the transparency that helps reveal plan
sponsorship risks so they may be appropriately managed? 4. Promises. How should the
promises in a defined benefit
pension plan affect that plan’s funding, and the willingness of
the plan sponsor to fund? What is the nature of the DB
promise, is it a viable promise going forward, and are
current DB promises affordable? Are there limits that can
and should be imposed on a company’s ability to make a
promise that is backed by the PBGC? Symposium presenters to include
Ronald Gebhardtsbauer, Brian Graff, Craig Hanna, Kenneth Kent,
Gerard Mingione, Thomas Terry, and Mark Warshawsky. Seminar is co-sponsored by the American Academy of
Actuaries, the American Society of Pension Professionals & Actuaries and
the Society of Actuaries Registrations received 4 business days
out from seminar date are considered onsite and are an
additional $50. Space is limited and available on a
first come–first served basis. Registrations are only
processed when accompanied by full payment. All cancellations must be in writing
(fax 847-719-6506). Cancellations received on or before
2/27/05 are refunded full fee less 25% administration
fee. Cancellations received after 2/28/05
are refunded full fee less 50% administration fee. No refunds 15 business days before the
seminar.
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