2008 Enrolled Actuaries Meeting

Sessions:

Session Handout

001 - PPA: 2008 -- The First Year April 07, 2008 9:00 AM - 10:30 AM

Speakers at this session provide an overview of the new funding rules (and other provisions) of the Pension Protection Act of 2006, highlighting what we have learned (or not learned) since enactment. Panelists review guidance provided since last year's Enrolled Actuaries Meeting, with an emphasis on where actuaries have lost authority (such as when setting assumptions) or taken on additional responsibility (such as providing actuarial certifications used in applying the new benefit restrictions).

Session Category
Employee Benefits - New Rulings/Development
Credits
EA Core1.80
CPD1.80
Session Handout

101 - PPA Funding I: Measuring Assets & Liabilities April 07, 2008 11:00 AM - 12:30 PM

In this session, panelists get back to basics and explain how to calculate assets and liabilities for various purposes under PPA (funding, PBGC premiums, etc.). Hear about options for discounting future payments and choices with respect to mortality assumptions. Find out where actuaries still have discretion and where it's been taken away. Learn the difference between "averaging" and "smoothing" of assets. This session is a must-see if you haven't yet dug into the new rules. You'll gain an understanding of how to determine the building blocks of the annual funding determinations. If you already have a good handle on how assets and liabilities are determined, you should go directly to PPA II. (Repeated at Session 201.)

Session Category
Funding and Schedule B Issues
Credits
EA Core1.80
CPD1.80
Session Handout

102 - The Generational Gap: Mortality Assumptions in the 21st Century April 07, 2008 11:00 AM - 12:30 PM

Actuaries are coming to grips with a consistent pattern of mortality improvements and moving to get ahead of the trend. Panelists discuss the appropriateness of building mortality improvements into actuarial valuations. In addition, the mechanics of PPA mortality and custom tables for large plans are covered.

Session Category
Employee Benefits - Assumptions/Methods
Credits
EA Core1.80
CPD1.80
Session Handout

103 - Intelligent Design After 409A April 07, 2008 11:00 AM - 12:30 PM

Section 409A was added to the Code by the American Jobs Creation(ism) Act of 2004. As regulations have gone through an evolutionary process, employers have struggled to comply. A diverse group of speakers show you how job creation has evolved into intelligent design.

Session Category
Employee Benefits - Nonqualified Plans
Credits
EA Non-Core1.80
CPD1.80
Session Handout

104 - Issues to Watch Out for When Terminating a DB Plan April 07, 2008 11:00 AM - 12:30 PM

Are your clients contemplating terminating their DB plans? If so, do you know how to navigate the complicated process without running afoul of PBGC and IRS rules? Learn how to avoid the pitfalls and come prepared with your questions. A general understanding of the plan termination process is presumed.

Session Category
Employee Benefits - PBGC/Plan Termination Issues
Credits
EA Core1.80
CPD1.80
Session Handout

105 - Financial Economics and Public Pension Plans April 07, 2008 11:00 AM - 12:30 PM

Financial Economics (FE) is now established as a theoretical basis for valuation of costs and liabilities for corporate plans, influencing PPA funding and FASB reporting requirements as well as liability driven investment strategies. But what about public plans? How do the theoretical and empirical justifications for FE apply to public plans? What would be the consequences of FE for disclosure, funding and investments for these plans? Our panel presents all sides of this important development for all public plans. (Linked to 405 & 605)

Session Category
Employee Benefits - Beyond Corporate Retirement Plans
Credits
EA Non-Core1.80
CPD1.80
Session Handout

106 - Non-discrimination Rules April 07, 2008 11:00 AM - 12:30 PM

Complex coverage and nondiscrimination rules under 401(a)(4), 410(b), and 414(s) affect all our clients. This session's panelists cover the details of the rules and also discuss specific testing issues. When should plans be permissively aggregated? What are the requirements for testing a DC or DB/DC plan on a benefits basis? What nondiscrimination issues arise when testing a frozen plan? These questions, and more are addressed.

Credits
EA Core1.80
CPD1.80
Session Handout

107 - Recent Court Cases of Interest to Actuaries April 07, 2008 11:00 AM - 12:30 PM

This interesting session deals with ways to design and administer plans. A review of recent court cases provides insight on the consequences of improper plan design and administration.

Session Category
Employee Benefits - New Rulings/Development
Credits
EA Core1.80
CPD1.80
Session Handout

108 - 415 Update April 07, 2008 11:00 AM - 12:30 PM

What do these numbers have in common: 83-10, 87-21, 95-6, 95-29, 98-1, 99-44, 2001-37, 2001-51, 2001-62, 2002-2, 2002-27, 2002-45, 2004-78. They were the band-aid approach to maximum benefit limitations. The bandages have come off . Listen to these experienced practitioners and see for yourself if the final regulations have healed the wounds.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.80
CPD1.80
Session Handout

201 - PPA Funding I: Measuring Assets & Liabilities April 07, 2008 2:30 PM - 4:00 PM

In this session, panelists get back to basics and explain how to calculate assets and liabilities for various purposes under PPA (funding, PBGC premiums, etc.). Hear about options for discounting future payments and choices with respect to mortality assumptions. Find out where actuaries still have discretion and where it's been taken away. Learn the difference between "averaging" and "smoothing" of assets. This session is a must-see if you haven't yet dug into the new rules. You'll gain an understanding of how to determine the building blocks of the annual funding determinations. If you already have a good handle on how assets and liabilities are determined, you should go directly to PPA II. (Repeat of Session 101.) (Linked to 401)

Session Category
Employee Benefits - General
Credits
EA Core1.80
CPD1.80
Session Handout

202 - PPA Funding II: The New Rules April 07, 2008 2:30 PM - 4:00 PM

The Pension Protection Act of 2006 completely rewrote the funding rules applicable to pension plans. Panelists go through each step of the new approach, with examples, to help you understand how to determine the minimum funding requirement and maximum deductible limit for single-employer pension plans. You'll also learn how the calculations differ for an "at-risk" plan and the impact of underfunding on contribution levels and on funding flexibility. Hear how recent guidance affects determinations, learn the new lingo, practice the new math, and see how it all works -- until the next legislative bombshell, anyway. For those actuaries who already understand the new rules, but want to discuss more advanced strategies, see Session 402 entitled "PPA Funding IV: Strategies for Underfunded and Overfunded Plans." For those actuaries who are starting at the beginning, "PPA I: Measuring Assets and Liabilities" is a great introduction to the post-PPA world. (Repeated at Session 401.)

Session Category
Funding and Schedule B Issues
Credits
EA Core1.80
CPD1.80
Session Handout

203 - Employee Plans Compliance Resolution Systems (EPCRS) April 07, 2008 2:30 PM - 4:00 PM

Cycle A has ended. IRS has found many common flaws in determination letter applications. Some of these flaws will land plan sponsors in EPCRS. See how you can have a more successful Cycle B.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.80
CPD1.80
Session Handout

204 - Late Breaking Developments April 07, 2008 2:30 PM - 4:00 PM

The panelists highlight 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. (Repeated at Session 404.)

Session Category
Employee Benefits - New Rulings/Development
Credits
EA Core1.35
EA Non-Core0.45
CPD1.80
Session Handout

205 - PPA 2006 for Multiemployer Plans April 07, 2008 2:30 PM - 4:00 PM

Actuaries now have spent a year of working with the new PPA funding rules for multiemployer plans. Panelists discuss their experience with the color-coded funding zones and other PPA strategies for multiemployer plans. (Linked to 505 & 705)

Session Category
Employee Benefits - Beyond Corporate Retirement Plans
Credits
EA Core1.80
CPD1.80
Session Handout

206 - New Issues in 411(d)(6) April 07, 2008 2:30 PM - 4:00 PM

411(d)(6) is seemingly a simple code section -- thou shalt not reduce accrued benefits by amendment. What could possibly be misunderstood? Our panel of experts show you how the regulations and court cases (including Heinz) redefine some simple words.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.80
CPD1.80
Session Handout

207 - Professional Standards Affecting Pension Actuaries April 07, 2008 2:30 PM - 4:00 PM

A lot of time is spent worrying about limits placed on our professional judgment by outside bodies – IRS, FASB, PBGC, etc. If you’re looking for an overview of the ASB’s standards affecting pension actuaries issued by our profession, this session is for you! As a bonus, an overview of our current Code of Professional Conduct is presented, too.

Session Category
Employee Benefits - Professionalism and Policy
Credits
EA Core1.80
CPD1.80
Session Handout

208 - New Accounting Issues April 07, 2008 2:30 PM - 4:00 PM

A panel of experienced actuaries discuss new issues in accounting for retirement plans. The Financial Accounting Standards Board just started discussing Phase 2 of retirement accounting reform and many changes are anticipated in the direction of mark-to-market accounting. In addition, the International Accounting Standards Board continues to issue new requirements, which have implications as the accounting rules move towards international convergence. Also, our clients' auditors continue to look for more information from us as they audit our clients and their benefit plans.

Session Category
Employee Benefits - Accounting Issues
Credits
EA Non-Core1.80
CPD1.80
Session Handout

301 - Compliance Gotchas April 07, 2008 4:30 PM - 5:45 PM

Panelists review a grab bag of compliance gotchas -- important and complex rules that apply only occasionally and can catch you by surprise, including: liquidity shortfall rules; top 25 benefit restrictions; and certain participant notices.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.50
CPD1.50
Session Handout

302 - Hot Issues for Tax-Exempt Organizations April 07, 2008 4:30 PM - 5:45 PM

Tax-exempt organizations are experiencing dramatic changes in the employee benefits they provide. Dealing with these changes and turning them into strategic opportunities are absolutely essential to any institution wishing to maximize the benefits its employees derive from its employee benefits programs. This session addresses "best practices" in responding to the hottest new changes. Issues may include:

  • Executive Compensation Challenges and Recent Legal Changes
  • New 403(b) Regulations
  • Recent Legislative and Regulatory Issues

Session Category
Employee Benefits - Professionalism and Policy
Credits
EA Core0.75
EA Non-Core0.75
CPD1.50
Session Handout

303 - PBGC Premiums After PPA April 07, 2008 4:30 PM - 5:45 PM

Thanks to PPA, paying PBGC premiums is a whole new ball game, especially when it comes to variable-rate premiums. No more full funding exemption, a new due date structure, a new way to measure unfunded vested benefits, etc. Don't be caught in the dark; come learn about the new rules.

Session Category
Employee Benefits - PBGC/Plan Termination Issues
Credits
EA Core1.50
CPD1.50
Session Handout

304 - Funding Retiree Welfare Benefits April 07, 2008 4:30 PM - 5:45 PM

Speakers at this session address funding vehicles for corporate retiree welfare benefits, including such options as 401(h) accounts, VEBAs, and 420 asset transfers. As benefit consultants we must help our clients analyze these prefunding options. Come and hear about the latest trends in this area, including the implications and pros/cons of these alternatives.

Session Category
Employee Benefits - Health and Welfare
Credits
EA Non-Core1.50
CPD1.50
Session Handout

305 - GASB Developments April 07, 2008 4:30 PM - 5:45 PM

Presenters at this session formerly known as "The Great GASB!" focus on how public entities are dealing with their emerging OPEB liabilities now that GASB 45 is fully effective for all but Phase 3 governments. Managing and mitigating these liabilities through plan design changes, benefit design changes, and funding are addressed. Case studies are shown illustrating GASB 45 impact of specific design and funding considerations.

Session Category
Employee Benefits - Accounting Issues
Credits
EA Non-Core1.50
CPD1.50
Session Handout

306 - IRS Focus Group April 07, 2008 4:30 PM - 5:45 PM

Representatives of the Employee Plans Division of the IRS meet with actuaries attending this session to discuss areas of mutual concern, suggestions for future guidance, and other topics that may arise. Take this opportunity to provide “feedback” to the people in Washington with whom we have the most interaction. (This session is not recorded.)

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.50
CPD1.50
Session Handout

307 - New Qualifications Standards April 07, 2008 4:30 PM - 5:45 PM

The revised Qualification Standards, effective as of January 1, 2008, were prepared by the American Academy of Actuary's Committee on Qualifications, and impact actuaries who wish to issue Statements of Actuarial Opinion (SAOs) in 2009 and thereafter. The Standards include changes to both the basic education and experience requirements, and the continuing education requirements. The latter is the most significant issue for Enrolled Actuaries and is relevant NOW since it affects our continuing education earned in 2008. Learn about these important new Standards, including how the limited EA exemption applies to you.

Session Category
Employee Benefits - Beyond Corporate Retirement Plans
Credits
EA Core1.50
CPD1.50
Session Handout

002 - Courts vs. IRS April 08, 2008 8:45 AM - 10:30 AM

What do you do when court decisions conflict with regulations or interpretations from the agencies (IRS, Treasury, DOL and the PBGC)? Which "rule" do you follow? Court decisions can diff er significantly from agency guidance on matters such as: cash balance/age discrimination; how to apply backloading rules; how to calculate a lump sum; whether death benefits are accrued; whether to give actuarial increases to benefits that start after NRA; how to apply ERISA Section 404(c); and many other important issues. What do you do when court decisions conflict with one another? How much reliance can you have in your determination letter?

Panelists discuss the structure of the federal courts, the hierarchy of legal authority, and issues raised for pension plans. In addition to providing insight on specific areas where courts and agencies have disagreed, our panelists discuss general strategies actuaries can use to deal with the chaos.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.80
CPD1.80
Session Handout

401 - PPA Funding II: The New Rules April 08, 2008 11:00 AM - 12:30 PM

The Pension Protection Act of 2006 completely rewrote the funding rules applicable to pension plans. Panelists go through each step of the new approach, with examples, to help you understand how to determine the minimum funding requirement and maximum deductible limit for single-employer pension plans. You'll also learn how the calculations differ for an "at-risk" plan and the impact of underfunding on contribution levels and on funding flexibility. Hear how recent guidance affects determinations, learn the new lingo, practice the new math, and see how it all works -- until the next legislative bombshell, anyway. For those actuaries who already understand the new rules, but want to discuss more advanced strategies, see Session 402 entitled "PPA Funding IV: Strategies for Underfunded and Overfunded Plans". For those actuaries who are starting at the beginning, "PPA I: Measuring Assets and Liabilities" is a great introduction to the post-PPA world. (Repeat of Session 202)

Session Category
Funding and Schedule B Issues
Credits
EA Core1.80
CPD1.80
Session Handout

402 - PPA Funding IV: Strategies for Underfunded or Overfunded Plans April 08, 2008 11:00 AM - 12:30 PM

Elaborate transition rules, temporary and permanent phase-ins, good old quarterly contributions, benefit restrictions, a bifurcated credit balance, a widened range between required and deductible contributions … PPA is very complex. Speakers discuss the various choices which a plan sponsor can (or must) consider when complying with the new rules. The panel addresses specific considerations for both underfunded and overfunded plans. (Repeated at Session 502.)

Session Category
Funding and Schedule B Issues
Credits
EA Core1.80
CPD1.80
Session Handout

403 - Current DC Issues April 08, 2008 11:00 AM - 12:30 PM

DC plans have become an increasingly popular trend in retirement planning. What are the current developments and issues in DC plans? How has PPA changed the DC plan landscape? How has recent litigation affected DC plans? Come and hear our panel discuss these and other DC issues.

Session Category
Employee Benefits - Defined Contribution Issues
Credits
EA Non-Core1.80
CPD1.80
Session Handout

404 - Late Breaking Developments April 08, 2008 11:00 AM - 12:30 PM

The panelists highlight 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. (Repeat of Session 204.)

Session Category
Employee Benefits - New Rulings/Development
Credits
EA Core1.35
EA Non-Core0.45
CPD1.80
Session Handout

405 - Current Issues With Public Employee Retirement Systems April 08, 2008 11:00 AM - 12:30 PM

An experienced panel of public plan actuaries discuss current issues in the public sector with a special emphasis on recent developments in plan design and funding. Topics include contribution rate stabilization techniques, actuarial assumptions, and conversions to, and from, defined contribution plans, as well as 403(d) and 457 plans.

Session Category
Employee Benefits - Beyond Corporate Retirement Plans
Credits
EA Non-Core1.80
CPD1.80
Session Handout

406 - How to Handle and Value Lump Sums April 08, 2008 11:00 AM - 12:30 PM

PPA has impacted lump sums in several important ways, including how they are calculated, valued, communicated and restricted. Panelists help unravel the many complicated issues surrounding this simple form of benefit payment.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.80
CPD1.80
Session Handout

407 - Small Plan Design and Technical Issues April 08, 2008 11:00 AM - 12:30 PM

Plan design options from the simple to the most complex with focus on real world issues, common problems and practical solutions are discussed. Examples include safe harbors and general tested formulas.

Session Category
Employee Benefits - Small Plan Issues
Credits
EA Core1.80
CPD1.80
Session Handout

501 - PPA Funding III: Funding Based Restrictions and Ramifications of Underfunding April 08, 2008 2:00 PM - 3:30 PM

Under PPA, the ramifications of underfunding can be dire – well beyond the impact on plan costs. If a plan's funded status drops too low, limitations on accruals, lump sums, or plan amendments may be triggered and the use of credit balances may be limited. Further, the actuary is now subject to strict timing deadlines for determining a plan's funded status. Speakers at this session provide an in-depth analysis of the workings of the single-employer funding-based limits (including the varying methods of determining a plan's funded status) with examples and consulting advice. Speakers focus on the provisions of Code section 436 and related regulations. The impact of underfunding on plan costs is addressed in "PPA II: The New Funding Rules," while advanced strategies for underfunded plans are addressed in "PPA Funding IV: Strategies for Underfunded and Overfunded Plans." (Repeated at Session 601.)

Session Category
Funding and Schedule B Issues
Credits
EA Core1.80
CPD1.80
Session Handout

502 - PPA Funding IV: Strategies for Underfunded or Overfunded Plans April 08, 2008 2:00 PM - 3:30 PM

Elaborate transition rules, temporary and permanent phase-ins, good old quarterly contributions, benefit restrictions, a bifurcated credit balance, a widened range between required and deductible contributions … PPA is very complex. Speakers discuss the various choices which a plan sponsor can (or must) consider when complying with the new rules. The panel addresses specific considerations for both underfunded and overfunded plans. (Repeat of Session 402.)

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.80
CPD1.80
Session Handout

503 - PBGC Update April 08, 2008 2:00 PM - 3:30 PM

A panel of PBGC representatives provide an overview of recently published PBGC guidance, including the proposed 4010 regulation, highlights from this year’s “Blue Book,” and other issues of interest to actuaries. There is plenty of time for questions from the audience. Participants are encouraged to come prepared with specific technical questions related to a PBGC topic.

Session Category
Employee Benefits - PBGC/Plan Termination Issues
Credits
EA Core1.80
CPD1.80
Session Handout

504 - PPA Hybrid Plans: Where Do We Stand Now? April 08, 2008 2:00 PM - 3:30 PM

PPA provides new rules for hybrid plan sponsors: New rules around whipsaw, interest crediting, and vesting require changes for many plans. Panelists discuss the new rules as well as the legal status of prior benefits accrued under these plans. The discussion also covers issues related to new conversions to hybrid designs, valuation issues for these plans under PPA, and the meaning of “market rates of return” in connection with these designs.

Session Category
Employee Benefits - New Rulings/Development
Credits
EA Core1.80
CPD1.80
Session Handout

505 - Current Issues with Multiemployer Plans April 08, 2008 2:00 PM - 3:30 PM

Multiemployer plans (also known as “Taft-Hartley” plans) present unique issues for actuaries. Panelists discuss key recent developments in multiemployer plans after the new PPA funding rules. Topics for this session include status of plan design issues, recent court cases, and merger issues for multiemployer plans.

Session Category
Employee Benefits - Beyond Corporate Retirement Plans
Credits
EA Core1.80
CPD1.80
Session Handout

506 - The DOL and You: Going Into Labor April 08, 2008 2:00 PM - 3:30 PM

Speakers from the Department of Labor address topics of interest to actuaries, including fiduciary responsibilities, DOL audits, what plan expenses can be paid from qualified plan trusts, and defined contribution issues. Come learn, ask your questions, and meet the DOL.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.80
CPD1.80
Session Handout

507 - Basics of Liability Driven Investing April 08, 2008 2:00 PM - 3:30 PM

With the focus on marked-to-market liabilities under both the Pension Protection Act and FAS 158, plan sponsors are beginning to focus on how to appropriately manage funded status volatility. One approach is liability driven investing. The speakers at this session cover the basics behind LDI and how to implement these approaches for defined benefit plans.

Session Category
Employee Benefits - Investment Issues
Credits
EA Non-Core1.80
CPD1.80
Session Handout

601 - PPA Funding III: Funding Based Restrictions and Ramifications of Underfunding April 08, 2008 4:00 PM - 5:30 PM

Under PPA, the ramifications of underfunding can be dire – well beyond the impact on plan costs. If a plan's funded status drops too low, limitations on accruals, lump sums, or plan amendments may be triggered and the use of credit balances may be limited. Further, the actuary is now subject to strict timing deadlines for determining a plan's funded status. Speakers at this session provide an in-depth analysis of the workings of the single-employer funding-based limits (including the varying methods of determining a plan's funded status) with examples and consulting advice. Speakers focus on the provisions of Code section 436 and related regulations. The impact of underfunding on plan costs is addressed in "PPA II: The New Funding Rules", while advanced strategies for underfunded plans are addressed in "PPA Funding IV: Strategies for Underfunded and Overfunded Plans". (Repeat of Session 501.)

Session Category
Funding and Schedule B Issues
Credits
EA Core1.80
CPD1.80
Session Handout

602 - Modeling Future Costs After the PPA April 08, 2008 4:00 PM - 5:30 PM

The Pension Protection Act affects how actuaries forecast future contribution levels. Issues such as projecting the yield curve and use of the funding standard carryover and prefunding balances present new challenges for plan sponsors and their actuaries.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.80
CPD1.80
Session Handout

603 - Discussion of IRS Gray Book Questions and Answers April 08, 2008 4:00 PM - 5:30 PM

Experienced practitioners involved in the process lead a review of government responses to the Gray, Blue and Green Books' questions. They comment on responses of particular interest and facilitate a dialogue on practical implications of the responses and alternative approaches where complete answers are not provided.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.80
CPD1.80
Session Handout

604 - Hybrid Plans and Variable Design Workshop April 08, 2008 4:00 PM - 5:30 PM

Innovations in pension design allow sponsors to share investment risks and opportunities with participants. PPA has provided important clarifications around these designs. Panelists discuss various aspects of these designs and client reactions to date, along with the opportunities afforded under PPA. (This is intended as an interactive workshop for practitioners experienced with these designs. A broad overview of hybrid designs in the context of PPA is discussed in Session 504.) (This session is not recorded.)

Session Category
Employee Benefits - New Rulings/Development
Credits
EA Core1.80
CPD1.80
Session Handout

605 - Public Employee Retirement Systems Workshop April 08, 2008 4:00 PM - 5:30 PM

This is an open forum on current topics of concern to public plan actuaries. This year the discussion focuses on the issue of market value liability disclosure for public pension plans. Other possible topics include setting funding assumptions, asset valuation methods, recent DROP controversies, and the focus of public interest on the government sector plans in today's economy. (This session is not recorded.)

Session Category
Employee Benefits - Beyond Corporate Retirement Plans
Credits
EA Non-Core1.80
CPD1.80
Session Handout

606 - Age Discrimination and 411(b) April 08, 2008 4:00 PM - 5:30 PM

Backloading rules prohibit discrimination against younger workers. 411(b)(1)(G) & (H) prohibit discrimination against older workers. With the PPA "exceptions" the rules are even more complex and mathematical. Panelists review the rules -- old and new -- and point out traps for the unwary in navigating between the two sets of prohibitions.

Credits
EA Non-Core1.80
CPD1.80
Session Handout

607 - Small Plan PPA Issues April 08, 2008 4:00 PM - 5:30 PM

How does PPA affect optimal solutions for each client? New issues not previously experienced in small plan designs are discussed.

Session Category
Employee Benefits - Small Plan Issues
Credits
EA Core1.80
CPD1.80
Session Handout

701 - Introduction to New Schedule SB April 09, 2008 8:00 AM - 9:15 AM

One byproduct of PPA is the new Schedule SB. This session introduces the Enrolled Actuary to the new Schedule SB, identify where it differs from the 2007 Schedule B, highlighting what's new, and what to look out for.

Session Category
Funding and Schedule B Issues
Credits
EA Core1.50
CPD1.50
Session Handout

702 - QDROs April 09, 2008 8:00 AM - 9:15 AM

Two experienced actuaries who represent both the parties to a divorce (and their attorneys) and plan administrators lead a discussion of issues and problems that both sides confront in the course of completing the QDRO process. Topics include actuarial issues arising in QDRO drafting and administration, including separate interest versus shared payment, measurement date, actuarial assumptions, early retirement subsidies, pre- and post-retirement death benefits, and forms of payment for the Alternate Payee. Attendee participation is encouraged.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.50
CPD1.50
Session Handout

703 - FAS 158 Basics April 09, 2008 8:00 AM - 9:15 AM

In 2006, the Financial Accounting Standards Board implemented its first phase of accounting reform that resulted in the recognition of a retirement plan's funded status on the company's balance sheet (in SFAS No. 158). In addition, this statement required companies to change their measurement dates to fiscal year-end. The panelists review this new statement in detail, including a review of new accounting entries involved in applying this statement.

Session Category
Employee Benefits - Accounting Issues
Credits
EA Non-Core1.50
CPD1.50
Session Handout

704 - Top 10 Unresolved Issues in PPA April 09, 2008 8:00 AM - 9:15 AM

PPA has answered a lot of questions related to the future of pension funding rules. A number of issues, however, remain unclear. Panelists review and discuss the major open issues on which the pension community still awaits guidance.

Session Category
Employee Benefits - New Rulings/Development
Credits
EA Core1.50
CPD1.50
Session Handout

705 - Multiemployer Plans Workshop April 09, 2008 8:00 AM - 9:15 AM

This session is a follow-up to Session 505 providing multiemployer plan actuaries an opportunity for a “hands on” discussion of problems, issues, and experiences encountered in their practices. (This session is not recorded.)

Session Category
Employee Benefits - Beyond Corporate Retirement Plans
Credits
EA Core1.50
CPD1.50
Session Handout

706 - Dialogue with the Joint Board April 09, 2008 8:00 AM - 9:15 AM

The Chair and Executive Director of the Joint Board for the Enrollment of Actuaries provide an update on Joint Board activities and answer participant’s questions regarding professional, disciplinary, and other topics of interest to EAs. The audience participants are given the opportunity to share their concerns and ideas with the Joint Board.

Session Category
Employee Benefits - Professionalism and Policy
Credits
EA Core1.50
CPD1.50
Session Handout

707 - Small Plans Workshop April 09, 2008 8:00 AM - 9:15 AM

Have you ever wished for the opportunity to discuss your problems with a group of peers? This workshop is an open forum on current problems and issues specific to sponsors of small plans. Topics may include PPA, PAA, IRC §401(a)(26), 410(b), 401(a) (4), 401(a)(17), 415 and 401(a)(9). (This session is not recorded.)

Session Category
Employee Benefits - Small Plan Issues
Credits
EA Core1.50
CPD1.50
Session Handout

801 - Dialogue with Treasury and IRS April 09, 2008 9:45 AM - 11:00 AM

A panel of high ranking IRS and Treasury officials field your questions on a number of challenging issues. Don’t miss your chance to ask everything you’ve always wanted to know about guidance.

Session Category
Employee Benefits - Compliance Issues
Credits
EA Core1.50
CPD1.50
Session Handout

802 - Corporate In-house Actuaries April 09, 2008 9:45 AM - 11:00 AM

Are you an in-house actuary? This workshop is for actuaries who work on retirement and other plans sponsored by their employers. Attendees have the opportunity to discuss the special problems and issues they encounter. (This session is not recorded.)

Session Category
Employee Benefits - Retirement/Consulting Issues
Credits
EA Non-Core1.50
CPD1.50
Session Handout

803 - The Basics of Derivatives and Alternative Investments April 09, 2008 9:45 AM - 11:00 AM

In recent years, banks and asset managers have been presenting derivative structures and alternative investment vehicles to defined benefit plan sponsors as a means to manage financial risk and to enhance returns. Speakers at this session explain the basics of derivative products (such as swaps and futures) and alternative investment vehicles (such as private equity and hedge funds): how they work, how they fit into the investment structure of plans and implementation steps/issues.

Session Category
Employee Benefits - Investment Issues
Credits
EA Non-Core1.50
CPD1.50
Session Handout

804 - Benefit Freezes! April 09, 2008 9:45 AM - 11:00 AM

There may be global warming, but recent surveys indicate that a third of traditional defined benefit plan sponsors have either closed their plans to new hires or frozen them for all participants in the last two years; another third are planning to do so in the next two years. Presenters explore the driving forces behind the freeze phenomena (PPA, new and pending accounting rules, new business and benefits strategies, etc.) and speculate on when and if this phenomena will slow down. But are plan sponsors getting the proper information needed to make these decisions? Appropriate factors for evaluating a potential freeze for healthy plan sponsors are discussed, along with the sometimes overlooked process of managing the plan (funding strategy, investment policy, etc.) once it is frozen.

Session Category
Employee Benefits - Plan Design Issues
Credits
EA Non-Core1.50
CPD1.50
Session Handout

805 - Substituting Facts for Impressions: A Look at Retirement Plan Preferences April 09, 2008 9:45 AM - 11:00 AM

The Society of Actuaries has recently updated its survey regarding post-retirement risks and needs. The study evaluates Americans’ awareness of potential financial risks and how this awareness impacts the management of their finances with respect to retirement. The 2007 study includes prior questions, as well as information regarding key new areas, such as the stages of retirement and how people view and manage long-term care and health risk. This session examines the key findings of the survey and how they might shape not only today's retirement programs, but also the future of our retirement system.

Session Category
Employee Benefits - Retirement/Consulting Issues
Credits
EA Non-Core1.50
CPD1.50
Session Handout

806 - Participant Communications – PPA and Beyond April 09, 2008 9:45 AM - 11:00 AM

Effective communications has always been an important element to managing a retirement program, but PPA has made proper communications essential. In this session, the speakers review the required disclosures, both those that are new due to PPA and those that have been around for years. Come away with the knowledge to navigate the complex communications and disclosure labyrinth.

Session Category
Employee Benefits - General
Credits
EA Core1.50
CPD1.50
Session Handout

807 - Basics of Financial Economics April 09, 2008 9:45 AM - 11:00 AM

There have been a lot of discussions about Financial Economics and its applicability to the pension field over the past few years, including the recently published "The Pension Actuary's Guide to Financial Economics". Join this panel of experts to learn about the basics of Financial Economics and what it means to your practice as a pension actuary.

Session Category
Employee Benefits - General
Credits
EA Non-Core1.50
CPD1.50
Session Handout

003 - Pension Volatility April 09, 2008 11:15 AM - 12:45 PM

What is the biggest reason that plan sponsors are freezing and terminating defined benefit plans? Volatility! Volatility, both on the accounting and funding sides, is the leading contributor. The panelists for this session focus on how to deal with these issues and identify traditional and emerging solutions.

Session Category
Employee Benefits - Investment Issues
Credits
EA Core0.90
EA Non-Core0.90
CPD1.80

  • 1 Lawrence Deutsch Larry Deutsch Enterprises
  • 2 Raymond D. Berry Grant Thornton LLP
  • 1 Brian C. Donohue October Three LLC
  • 2 David R. Godofsky Alston & Bird, LLP
  • 1 Gordon C. Enderle Willis Towers Watson
  • 2 Chad A. Hueffmeier Mercer
  • 3 Susan Lee Bolton Partners, Inc.
    (Session Assistant)
  • 1 Aaron Henry Meder UBS Global Asset Management
  • 2 Phil Galdi Merrill Lynch Retirement Group
  • 3 John M. Miller Aon Investment Consulting
  • 1 Lisa A. Larsen Hooker & Holcombe, Inc.
  • 2 Victor P. Harte Milliman Inc.
  • 1 Tonya B. Manning Buck
  • 2 Donald J. Segal
  • 1 Leslie A. McIntosh Weyerhaeuser Company
  • 2 Deborah A. Tully Willis Towers Watson
  • 1 Tonya B. Manning Buck
  • 2 David R. Godofsky Alston & Bird, LLP
  • 3 Gregory C. Braden Morgan, Lewis & Bockius LLP
  • 4 William F. Sweetnam Groom Law Group
  • 1 Robert E. Walter Mercer
  • 2 Linda Delivorias Mercer
  • 1 Jay K. Egelberg First Actuarial Consulting, Inc.
  • 2 Samuel S. Stanley SSS Consulting
  • 3 Jaqueline A. Kelly Sullivan, Ward, Asher & Patton, P.C.
  • 1 William B. Fornia Pension Trustee Advisors
  • 2 Lawrence A. Johansen New Hampshire Retirement System
  • 1 Patrick W. McDonough Joint Bd. for the Enrollment of Actuaries
  • 2 Michael J. Roach Internal Revenue Service
  • 3 Elizabeth Goodman U.S. Department of Labor
  • 4 Bruce C. Gaffney Ropes & Gray
  • 1 Donald J. Segal
  • 2 James E. Holland Cheiron, Inc.
  • 3 Martin L. Pippins American Retirement Association
  • 4 Harlan M. Weller U.S. Department of the Treasury
  • 5 Susan E. McDonald Aon
  • 1 Donald J. Segal
  • 2 Kenneth A. Steiner
  • 3 Jay P. Rosenberg Buck
  • 1 Robert H. Schramm
  • 2 Richard A. Hochman Actuarial Systems Corporation
  • 3 Alex M. Brucker Brucker & Morra
  • 4 Joyce I. Kahn Internal Revenue Service
  • 1 Michael D. Schachet Aon
  • 2 Craig Derrick Hodges Willis Towers Watson
  • 3 Gregory Anthony Reardon Cheiron, Inc.
  • 1 Paul Angelo Segal Consulting
  • 2 Robert C. North Robert C. North, Jr.
  • 3 Gordon C. Enderle Willis Towers Watson
  • 1 Dale H. Yamamoto Red Quill Consulting
  • 2 Stuart H. Alden Aon
  • 3 Briana S. Summers Aon
    (Session Assistant)
  • 1 William B. Fornia Pension Trustee Advisors
  • 2 Thomas G. Vicente Aon
  • 3 Sherry S. Chan New York City Office of the Actuary
  • 4 Derek Anthony Scott Fidelity Investments
    (Session Assistant)
  • 1 Timothy J. Carey Mercer
  • 2 Michael Rosenbaum Drinker Biddle & Reath LLP
  • 1 Kenneth A. Steiner
  • 2 Bruce Cadenhead Mercer
  • 3 James E. Ritchie Bolton
  • 4 Briana S. Summers Aon
    (Session Assistant)
  • 1 Donald E. Fuerst
  • 2 John H. Moore The Terry Group
  • 1 John H. Lowell October Three Consulting LLC
  • 2 Joe Hessenthaler Willis Towers Watson
  • 3 Lou Richey McCamish Systems, LLC
  • 1 Eric E. Malacane Stanley, Hunt, DuPree & Rhine, Inc.
  • 2 Carolyn E. Zimmerman Internal Revenue Service
  • 1 John H. Lowell October Three Consulting LLC
  • 2 Martin L. Pippins American Retirement Association
  • 3 James E. Holland Cheiron, Inc.
  • 4 Andrew Zuckerman Internal Revenue Service
  • 1 Jane D. Pacelli Pension Benefit Guaranty Corp.
  • 2 Harold J. Ashner Keightley & Ashner, LLP
  • 3 Rhonda Migdail Keightley & Ashner LLP
  • 1 Heidi Rackley
  • 1 Heidi Rackley
  • 2 Kyle N. Brown U.S. Department of the Treasury
  • 2 Kyle N. Brown U.S. Department of the Treasury
  • 3 Michelle Koontz Aon
    (Session Assistant)
  • 1 Bruce Cadenhead Mercer
  • 2 Brian J. O'Neill
  • 3 Amy Carter Sullivan Transamerica Retirement Solutions
    (Session Assistant)
  • 1 Stephen A. Robb
  • 2 Brian N. O'Konski UFCW-International Union
  • 1 John D. Steele Willis Towers Watson
  • 2 Arthur L. Conat
  • 1 Patrick C. DiCarlo Alston & Bird, LLP
  • 2 Barry Kozak xx
  • 1 Kathleen A. Riley Segal Consulting
  • 2 Sheila Kalkunte American Academy of Actuaries
  • 3 Karen Nowiejski Smith Nova Pension Valuations LLC
  • 1 Mark R. Ferrin Mercer
  • 2 Gene Bryant Fife
  • 1 Marvin Lee Stokes Mercer
  • 2 Suzanne Samuelson Mercer
  • 1 Amy C. Viener Pension Benefit Guaranty Corp.
  • 2 Patrick Andrew Ward Aon
  • 3 Mitzi E. McLean Aon
    (Session Assistant)
  • 1 C. David Gustafson Pension Benefit Guaranty Corp
  • 2 Amy C. Viener Pension Benefit Guaranty Corp.
  • 3 Catherine B. Klion Pension Benefit Guaranty Corp.
  • 1 Clinton S. Cary Northern Trust Global Investments
  • 2 R. Evan Inglis Independent Consultant
  • 3 Ethan E. Kra Ethan E. Kra Actuarial Services LLC
  • 4 Charles E.F. Millard Pension Benefit Guaranty Corp.
  • 1 Lars C. Golumbic Groom Law Group
  • 2 James C. Shake JCS Benefits Consulting
  • 3 Adrien R. LaBombarde Internal Revenue Service
  • 4 Jessie Bunting Willis Towers Watson
    (Session Assistant)
  • 1 Elizabeth K. Hammond Findley
  • 1 Elizabeth K. Hammond Findley
  • 2 Jess C. McGrath Fidelity Investments
  • 2 Jess C. McGrath Fidelity Investments
  • 1 Laura M. Camisa Willis Towers Watson
  • 1 Laura M. Camisa Willis Towers Watson
  • 2 Bruce C. Gaffney Ropes & Gray
  • 2 Bruce C. Gaffney Ropes & Gray
  • 3 Gregg Michael Burk The Permanente Medical Group, Inc.
    (Session Assistant)
  • 3 Laura S. Stewart Findley
    (Session Assistant)
  • 1 Heidi Rackley
  • 1 Heidi Rackley
  • 2 Marjorie R. Martin Buck
  • 2 Marjorie R. Martin Buck
  • 3 James E. Holland Cheiron, Inc.
  • 3 James E. Holland Cheiron, Inc.
  • 4 Laura S. Stewart Findley
    (Session Assistant)
  • 1 R. Evan Inglis Independent Consultant
  • 2 Ellen L. Kleinstuber Bolton Partners, Inc.
  • 1 R. Evan Inglis Independent Consultant
  • 2 Ellen L. Kleinstuber Bolton Partners, Inc.
  • 3 Amy Carter Sullivan Transamerica Retirement Solutions
  • 0 Sarah Wright October Three LLC
  • 0 Lawrence J. Sher October Three LLC
  • 3 Susan E. McDonald Aon
    (Session Assistant)
  • 1 Tonya B. Manning Buck
  • 2 Kenneth A. Steiner
  • 3 Michael E. Clark Principal Financial Group
  • 1 Mary Downs American Academy of Actuaries
  • 2 Lawrence J. Sher October Three LLC
  • 1 Graham Alan Schmidt Cheiron, Inc.
  • 2 Thomas B. Lowman Bolton Partners, Inc.
  • 1 Barry J. Kaplan Barry Kaplan LLC
  • 2 Robert A. Alps
  • 1 Alex M. Brucker Brucker & Morra
  • 2 Michael J. Roach Internal Revenue Service
  • 1 Lawrence Deutsch Larry Deutsch Enterprises
  • 2 Thomas J. Finnegan CBIZ Retirement Plan Services
  • 3 Susan E. McDonald Aon
  • 1 Kevin Joseph Donovan Pinnacle Plan Design, LLC
  • 2 Mark K. Dunbar Dunbar Bender & Zapf Inc.
  • 1 Lawrence Deutsch Larry Deutsch Enterprises
  • 2 Marjorie R. Martin Buck
  • 1 Emily K. Kessler Society of Actuaries
  • 2 Stephen M. McGivney PricewaterhouseCoopers LLP
  • 3 Gregg Michael Burk The Permanente Medical Group, Inc.
    (Session Assistant)
  • 1 Eric I. Palley Guggenheim Partners
  • 2 Albert R. Trezza BNY Mellon Asset Management
  • 3 Michelle Koontz Aon
    (Session Assistant)
  • 1 Donald J. Segal
  • 2 Elizabeth Goodman U.S. Department of Labor
  • 3 Caroline Sullivan U.S. Department of Labor
  • 4 Janet Walters U.S. Department of Labor
  • 1 Christopher M. Bone Pension Benefit Guaranty Corp.
  • 2 Emily K. Kessler Society of Actuaries
  • 3 Michelle Koontz Aon
    (Session Assistant)
  • 1 David R. Godofsky Alston & Bird, LLP
  • 2 Kent A. Mason Davis & Harman LLP
  • 3 Briana S. Summers Aon
    (Session Assistant)