2013 Enrolled Actuaries Meeting

Sessions:

Session Handout

001 - Washington Update -- Pension & Benefits in the New Congress April 08, 2013 9:00 AM - 11:00 PM

As we go into the new Congress, the intersection of Budget Boulevard and Tax Policy Drive is key. Employee benefits (including pensions) are one of the largest “tax expenditures”—and that means that no Congress or President can afford to ignore them. Will personal responsibility drive new tax policy? Will deficit concerns outweigh sound policy? Might the staid DB plan regain some favor? Come hear a panel of experts discuss the possibilities and the bearing that they might have on our work.

Session Category
Employee Benefits - General Sessions
Credits
EA Core0.90
EA Non-Core0.90
CPD1.80
Session Handout

107 - Fiduciary Responsibility April 08, 2013 10:05 AM - 12:30 PM

The presenters at this session cover how ERISA defines a fiduciary, and typical fiduciary roles and responsibilities in defined benefit and defined contribution plan governance and administration. Also covered is how to effectively manage fiduciary risk and how to avoid inadvertently becoming a fiduciary.

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

101 - Late Breaking Developments April 08, 2013 11:05 AM - 12:35 PM

Panelists review the new guidance from the past year, with special focus on important developments that occur shortly before the meeting. The speakers may address rulings, regulations, litigation, and other exciting news. (Note that the allocation between core and noncore credit depends on the final actual content of the session.)

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

102 - Consulting to Partnerships/Self-Employed April 08, 2013 11:05 AM - 12:35 PM

Sole proprietorship and partners face unique restrictions on funding their retirement plans. The speakers at this session focus on the determination of compensation for self-employeds, special rules on self-employed contributions, how to allocate contributions to partners and plan design options that work well for partners.

Session Category
Employee Benefits - Small Plan Issues
Credits
EA Core0.90
EA Non-Core0.90
CPD1.80
Session Handout

103 - Innovative Designs (Not CB) -- Variable Annuity April 08, 2013 11:05 AM - 12:35 PM

Employers are increasingly unwilling to bear the risk posed by defined benefit plans. In response, new types of defined benefit plans with variable accruals are being developed to share the risk between employers and employees. Come hear a discussion of new innovative plan designs other than cash balance plans.

Session Category
Employee Benefits - Plan Design Issues
Credits
EA Core0.90
EA Non-Core0.90
CPD1.80
Session Handout

104 - Funding - Back to Basics April 08, 2013 11:05 AM - 12:35 PM

Hear a review of the basic funding rules, including guidance provided under the Pension Protection Act. Speakers at this session review how to determine a plan's minimum required contribution and maximum deductible contribution. The presenters also review the impact of MAP-21 on these calculations and changes to funding requirements when a plan is at-risk.

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

105 - Multiemployer Plans Beyond PPA, What’s Next? April 08, 2013 11:05 AM - 12:35 PM

There are parts of the Pension Protection Act of 2006 that are scheduled to sunset in December 2014. Discussions are underway from a variety of sources for what legislators might want to consider next. The Retirement Security Review Commission of the National Coordinating Committee for Multiemployer Plans is a diverse group that has been deliberating what could be adjusted in the current law. This session, led by two members of that Commission, reviews the proposals and talks about some of the thinking behind those proposals.

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

106 - Life Cycle of a Plan Termination April 08, 2013 11:05 AM - 12:30 PM

Are your clients considering a plan termination? If so, do you know how to navigate the PBGC and IRS requirements? Our panel reviews the steps involved in a standard termination, focusing on typical pitfalls to avoid and considers PBGC audit experience. 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

201 - Minimum Funding Strategies (including Quarterly Contributions) April 08, 2013 2:30 PM - 4:00 PM

The presenters at this session explore the funding rules, focusing on strategies with respect to quarterly contributions and managing credit balances. The focus is on more complicated problems and solutions with respect to funding of single employer plans. A thorough understanding of the funding rules is assumed. (For a more introductory review of the funding rules, see Session 104.)

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

202 - Cash Balance - Small Plans April 08, 2013 2:30 PM - 4:00 PM

Small plan design options are covered with a focus on current issues, common problems and optimal solutions. Examples include combination of plans, safe harbors and general tested formulas. The speakers at this session focus on cash balance and other hybrid formulas including combination plans.

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

203 - Public Plan Funding Policies in a Post-ARC World April 08, 2013 2:30 PM - 4:00 PM

During this session, the speakers discuss funding policy for public plans after the ARC. What body, if any, is responsible for developing and monitoring adherence to funding policy guidelines or requirements?

We will hear from:

  • The California Actuary Advisory Panel’s Model Funding Policies and Practices; and
  • Government Finance Officers Association’s (GFOA) emerging work on “best practices” for public plan funding policies.

Session Category
Public Plans
Credits
EA Non-Core1.80
CPD1.80
Session Handout

204 - MAP-21 April 08, 2013 2:30 PM - 4:00 PM

MAP-21 was intended to provide pension plans with funding relief on pension funding by relieving the effects of the current extremely low interest rate environment. It has obviously affected a lot more of our work than anyone expected. Come to this session to hear experts review the new rules on funding, deductions, reporting and premiums – both the obvious and the subtle changes – to help keep you from missing anything. (This session is repeated in session 404).

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

205 - Reorganization in a Multiemployer Plan April 08, 2013 2:30 PM - 4:00 PM

Reorganization is a provision of ERISA that has been in the law since the enactment of the Multiemployer Pension Plan Amendment Act in 1980. While many plans have not encountered this in the past, it may be something on the horizon. The speakers at this session cover what triggers a plan to be in Reorganization and what happens within Reorganization.

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

206 - PBGC Update April 08, 2013 2:30 PM - 4:00 PM

A panel of PBGC representatives provides an overview of recently published PBGC guidance, 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

207 - Ethics April 08, 2013 2:30 PM - 4:00 PM

Panelists discuss ethical problems faced by actuaries in their everyday practices. This session is highly interactive with members of the audience, as well as panelists, suggesting solutions.

Session Category
Employee Benefits - Professionalism and Policy
Credits
EA Ethics1.80
CPD1.80
Session Handout

301 - Advanced 415 Limits April 08, 2013 4:30 PM - 5:45 PM

Certain plan features can make 415 limits complex: multiple plans; multiple annuity starting dates; employee contributions; COLAs; pop-ups; partial lump sums; etc. Panelists review 415 limits with combinations of complicating features.

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

302 - Year End Valuations April 08, 2013 4:30 PM - 5:45 PM

PPA 2006 requires beginning of year valuations except for plans with fewer than 100 participants. The presenters at this session focus on the challenges posed by year end valuations such as computation of AFTAP and credit balance elections.

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

303 - Qualification Standards for Public Sector Plans April 08, 2013 4:30 PM - 5:45 PM

Everyone knows that governmental DB plans are regulated by the Internal Revenue Code but do you know which sections of the IRC apply to public sector plans? Come hear a review of the qualifications requirements that apply to public sector plans and how they impact our work.

Session Category
Public Plans
Credits
EA Core1.50
CPD1.50
Session Handout

304 - Dialogue with the Academy Pension Practice Council Leaders April 08, 2013 4:30 PM - 5:45 PM

What has the Academy’s Pension Practice Council done for you lately? Join a panel of leaders from the Academy’s pension practice area to learn about major recent projects and ongoing activities from the Pension Practice Council and committees. The moderator then opens the floor for questions and feedback from the audience. Come to this session to get an insider’s look at the pension practice area of the Academy.

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

305 - Multiemployer Plan Mergers and Spinoffs April 08, 2013 4:30 PM - 6:00 PM

One solution for troubled multiemployer plans has been to seek a merger with another plan. Likewise, other solutions consider the spinoff of liabilities to a separate plan. However, there are responsibilities and government rules that need to be considered with respect to a merger. The speakers at this session cover the issues and rules related to mergers and spinoffs of multiemployer plans.

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

306 - Reportable Events Update April 08, 2013 4:30 PM - 5:45 PM

Due to recently released new regulations on “Reportable Events,” we added a session to inform/update actuaries on this subject. Session 306 is now “Reportable Events Update.” We realize that many of you selected other sessions in that track that you would rather attend; therefore, the basics and a summary of the new regulations is covered both in Session 206 “PBGC Update” and in Session 101 “Late Breaking Developments.” For those interested in the details about the new regulations, you can attend the Reportable Events session. However, if you are interested in switching to this session 306, please sign up at the registration desk on Sunday or Monday morning so we can properly assign a room with enough space for everyone who is interested.

Session Category
Unassigned
Credits
EA Core1.50
CPD1.50
Session Handout

307 - Annual Funding Notices and Sec. 436 Restriction Notices April 08, 2013 4:30 PM - 5:45 PM

The notices they are a-changing! IRS has provided guidance on the ERISA 101(j) notices for benefit restrictions, and more may be coming. Congress also added a requirement for many plans to show additional information in the Annual Funding Notices. Come hear a detailed exploration of the wording, timing, and content the notices must contain before your clients need to provide them. (This session is not recorded.)

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

308 - Employee Contribution Design and Considerations April 08, 2013 4:30 PM - 5:45 PM

Although potentially an attractive design feature, employee contributions are not too common in single employer plans due to all of the compliance complications. Panelists review designs incorporating employee contributions, their administrative and nondiscrimination testing requirements, and some common pitfalls.

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

002 - Best Actuarial Practices or Defensive Practice? April 09, 2013 7:45 AM - 11:00 PM

In this lively and interactive session, panelists discuss best practices for quality control, documentation, retention, and peer review, the tension between best practices and protecting your firm from malpractice litigation. Come hear practical advice on advancing and balancing these potentially competing objectives.

Session Category
Employee Benefits - General Sessions
Credits
EA Ethics1.80
CPD1.80
Session Handout

401 - Discussion of IRS Gray Book Questions and Answers April 09, 2013 11:00 AM - 12:30 PM

Experienced practitioners involved in the process of developing the Gray Book lead a review of government responses to this year's 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

402 - Small Plan Design (Not Cash Balance) April 09, 2013 11:00 AM - 12:30 PM

Small plan design options are covered with a focus on current issues, common problems and optimal solutions. Examples include combination of plans, safe harbors and general tested formulas. The presenters at this session focus on traditional (non-cash balance) plan design.

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

403 - New GASB Statements 67 and 68 April 09, 2013 11:00 AM - 12:30 PM

It’s a brave new world, and the ARC is dead. New Statements 67 and 68 issued by the Government Accounting Standards Board (GASB) require significant new accounting and financial reporting for governmental defined benefit pension plans and employers. Come hear a panel of experts discuss the new requirements and the required changes, which affect all actuaries who work on government plans.

Session Category
Public Plans
Credits
EA Non-Core1.80
CPD1.80
Session Handout

404 - MAP-21 April 09, 2013 11:00 AM - 12:30 PM

MAP-21 was intended to provide pension plans with funding relief on pension funding by relieving the effects of the current extremely low interest rate environment. It has obviously affected a lot more of our work than anyone expected. Come to this session to hear experts review the new rules on funding, deductions, reporting and premiums – both the obvious and the subtle changes – to help keep you from missing anything. (This session is a repeat of session 204.)

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

405 - When PBGC Provides Assistance to a Multiemployer Plan April 09, 2013 11:00 AM - 12:30 PM

If a multiemployer plan becomes insolvent, PBGC becomes responsible for the payment of benefits. Panelists cover how PBGC’s involvement with a multiemployer plan happens and the related issues.

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

406 - Non-Standard Terminations April 09, 2013 11:00 AM - 12:30 PM

Panelists explain the rules and provide practical advice on distress terminations and involuntary terminations (initiated by PBGC) when the plan sponsor is in reorganization, liquidation, or financial distress.

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

407 - ASOPs Update April 09, 2013 11:00 AM - 12:30 PM

Over the last year the ASB has issued new ASOPs and proposed changes on others. Those changes include revisions to ASOP 6, a new ASOP related to ERM that affects all practice areas, and a discussion draft on dealing with risk in pension plans. Come to this session to learn about the most recent developments relating to these new ASOPs and proposed changes, and how they may change the way we practice.

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

408 - Cash Balance Plans for Large Companies April 09, 2013 11:00 AM - 12:30 PM

Presenters at this session review the rules with respect to cash balance plans, focusing on plans sponsored by larger companies, including proposed and final regulations issued prior to the meeting. Topics include, among others, market rates of return, whipsaw considerations, back-loading, and age discrimination.

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

504 - Social Security Benefits and Strategy – Understanding the Options April 09, 2013 1:00 PM - 2:30 PM

Social Security requires just one decision from participants – when to start drawing benefits. Many people decide to claim their benefits without checking out all their options. Perhaps they do not know that options exist or they may think that options won’t make much difference in retirement. However, options do exist and this decision can have an enormous impact on the post-retirement risks participants face. Deciding when to claim Social Security requires careful consideration. Practitioners and plan sponsors should understand the impact of this decision on the design of employer-provided retirement benefits and consider ways of providing support to employees to foster decisions that improve retirement security outcomes.

Session Category
Employee Benefits - Retirement/Consulting Issues
Credits
EA Non-Core1.80
CPD1.80
Session Handout

501 - Spin-off Funding and 436 Restrictions April 09, 2013 2:00 PM - 3:30 PM

We are currently operating in a vacuum on mergers and spin-offs – there is little relevant post-PPA guidance, and yet plan sponsors and practitioners must make decisions on how to determine whether benefit restrictions apply after these events and how to determine minimum required contributions and quarterly contributions. The panelists at this session explore what approaches practitioners and plan sponsors are taking, and the perceived reasonableness or risks of different approaches.

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

502 - Small Plan Workshop April 09, 2013 2:00 PM - 3:30 PM

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) and PBGC Funding Rules for Small Plans. (This session is not recorded.)

Session Category
Employee Benefits - Small Plan Issues
Credits
EA Core0.90
EA Non-Core0.90
CPD1.80
Session Handout

503 - Implementing GASB Statements 67 and 68 April 09, 2013 2:00 PM - 3:30 PM

Writing and understanding a new standard is one thing. Implementing it is another. Come hear a panel of experts discuss some of the implementation issues that are surfacing as plans and employer governments start to implement GASB 67 and 68. Bring your own issues and questions to discuss with the panel. Perhaps your question will appear in the Implementation Guide.

Session Category
Public Plans
Credits
EA Non-Core1.80
CPD1.80
Session Handout

505 - Multiemployer Plans Workshop April 09, 2013 2:00 PM - 3:30 PM

This session is an opportunity for multiemployer plan actuaries to engage in a discussion of practical issues, problems and experiences encountered in their practices. It can be a more in-depth discussion of topics from the other multiemployer sessions or subjects not covered in those sessions. Come prepared with your list of discussion topics! (This session is not recorded.)

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

506 - De-risking: Investment Strategies April 09, 2013 2:00 PM - 3:30 PM

De-risking has been in the press a lot. Come hear experts in the field discuss how plans large and small can use techniques to minimize the impact of volatility on cash flow and accounting. Strategies include shrinking the plan through cash outs or annuity purchases, and using dynamic asset allocation (DAA or glide path) to move toward a liability-driven investment strategy. (Linked to Session 601)

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

507 - ASB Standards for Pension Actuaries April 09, 2013 2:00 PM - 3:30 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! Any new standards or exposure drafts issued during the year are included.

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

508 - Litigation Affecting DB Plans April 09, 2013 2:00 PM - 3:30 PM

The panel reviews recent court decisions affecting defined benefit plans and pension actuaries.

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

601 - Settling Pension Liabilities April 09, 2013 4:00 PM - 5:30 PM

So your client wants to settle their pension liabilities. The speakers on this panel examine the decision considerations between using lump sum cash outs or annuities. They discuss anti-selection, legal and compliance issues. Also the panel looks at lump sum cash out implementation steps, communications strategies, and recent plan sponsor experience. (Linked to Session 506)

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

602 - Voluntary Correction Programs (EPCRS) April 09, 2013 4:00 PM - 5:30 PM

Pension rules have become so complicated that no one can get everything right all the time. What do you do when you discover a compliance problem? Experts discuss real-life case studies and explain the correction programs, including SCP, VCP and Audit CAP.

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

603 - Funding Methods and Technical Issues of Public Plans with Fixed Contribution Rates April 09, 2013 4:00 PM - 5:30 PM

Annual contribution rates for some public sector plans are set by state statute or funding policy. The actuary is then charged with determining the financing period (amortization schedule). The speakers at this session discusses methods for making this determination such as using the Ultimate Normal Cost Method or general projection methods in plans that have different benefit tiers. The panel also discusses underlying funding policies and consulting issues that arise with fixed rate plans.

Session Category
Public Plans
Credits
EA Non-Core1.80
CPD1.80
Session Handout

604 - Advancing Actuarial Practice – An Overview of Recent SOA Pension Research April 09, 2013 4:00 PM - 5:30 PM

The SOA is not solely an educational organization. Research is a cornerstone of the SOA, helping drive creative solutions to complex problems. Recent Pension Section research projects have explored such issues as valuing embedded options in retirement plans, moving beyond traditional replacement ratios, evaluating gain sharing plan designs, managing retirement decisions and the biennial Retirement Risk Survey.

Pension Section research forms the foundation for further expansion of the profession and pension actuarial practice. Come learn about some of these recently completed research projects and other ongoing work of the Pension Section Research Team and Committee on Postretirement Needs and Risks.

Session Category
Employee Benefits - Retirement/Consulting Issues
Credits
EA Non-Core1.80
CPD1.80
Session Handout

605 - Rules of Thumb - Estimation Techniques for the Pension Actuary April 09, 2013 4:00 PM - 5:30 PM

Panelists discuss why (and when) estimation techniques are useful in the defined benefit plan environment. "Rules of Thumb" are helpful for use in scenarios such as changes in interest rates, salary scale, mortality assumptions, and retirement rates. Panelists also explore the limitations of the use of estimates in certain situations. (This session is not recorded.)

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

606 - 4010 Filing April 09, 2013 4:00 PM - 5:30 PM

The panelists at this session cover the basics of 4010 filings. Is a filing required? What waivers apply? What information must be filed? How do you calculate the liabilities? How does electronic filing work?

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

607 - More Ethics April 09, 2013 4:00 PM - 5:30 PM

Panelists discuss ethical problems faced by actuaries in their everyday practices. This session is highly interactive with members of the audience, as well as panelists, suggesting solutions. (This session is not the same as Session 207 "Ethics," and "Ethics" is not a prerequisite.)

Session Category
Employee Benefits - Professionalism and Policy
Credits
EA Ethics1.80
CPD1.80
Session Handout

701 - Mergers April 10, 2013 8:00 AM - 9:15 AM

We are currently operating in a vacuum on mergers – there is little relevant post-PPA guidance, and yet plan sponsors and practitioners must make decisions on how to determine whether benefit restrictions apply after these events and how to determine minimum required contributions and quarterly contributions. The panelists at this session explore what approaches practitioners and plan sponsors are taking and the perceived reasonableness or risks of different approaches.

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

702 - Plan Termination for Small Plans April 10, 2013 8:00 AM - 9:15 AM

Terminating small plans poses unique problems. Panelists discuss how to deal with multiple owners in an underfunded plan covered by PBGC, HIGH 25 and 436 Restrictions, lost participants and annuitizations.

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

703 - Can They do That? Plan Design and Constitutional Issues April 10, 2013 8:00 AM - 9:15 AM

Many governmental plan boards and sponsors are asking their actuaries for advice on plan design and contribution changes to address issues of underfunding and sustainability. The speakers at this session provide a brief overview of the type of plan design changes that have occurred since 2008 and focus on the legal constraints on reducing benefits and increasing contributions for participants. The panelists also address other "change agents" affecting governmental plans, such as municipal bankruptcy and IRS policies.

Session Category
Public Plans
Credits
EA Core0.75
EA Non-Core0.75
CPD1.50
Session Handout

704 - Schedule SB - Form and Attachments April 10, 2013 8:00 AM - 9:15 AM

Speakers at this session review the Schedule SB, paying particular attention to changes to the schedule to accommodate recent regulatory and legislative changes. There is also a review of the many attachments that are required, including those that must be provided for all plans and those that are only required for certain types of plans or plans that have made special elections.

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

705 - Corporate Statements April 10, 2013 8:00 AM - 9:15 AM

Where do the corporate financial accounting numbers end up on your client's financial statement? The speakers at this session provide insight into this so actuaries are better prepared to discuss with their clients the impact of the accounting results. Discussion topics include OCI, AOCI, retained earnings, as well as which results flow through P&L and which items are on the balance sheet.

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

706 - Audit Experience Workshop April 10, 2013 8:00 AM - 9:15 AM

Session participants are asked to share experiences and issues they have encountered when dealing with the IRS or DOL on audits in this interactive forum. (This session is not recorded.)

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

707 - Dialogue with the Joint Board April 10, 2013 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 participants' questions regarding regulations, 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

801 - Dialogue with the IRS/Treasury April 10, 2013 9:45 AM - 11:00 AM

A panel of high ranking officials field your questions on a number of challenging issues. This is your chance to ask what you've always wanted to know about guidance. This session is not intended to address specific client issues.

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

802 - Funding Retirement Health/Welfare Benefits April 10, 2013 9:45 AM - 11:00 AM

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

803 - Public Employee Retirement Systems Workshop April 10, 2013 9:45 AM - 11:00 AM

This is an open forum on current topics of concern to public plan actuaries. Possible topics this year may include the new GASB statements (67 and 68), Moody’s pension liability measurement, Funding Policies without the ARC reporting requirements. (Linked to Session 403 & 503)

Session Category
Public Plans
Credits
EA Non-Core1.50
CPD1.50
Session Handout

804 - Corporate In-house Actuaries April 10, 2013 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. Note: Attendance at this session should be limited to in-house actuaries. (This session is not recorded.)

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

805 - Actuarial Issues with Non-qualified Deferred Compensation April 10, 2013 9:45 AM - 11:00 AM

Many large companies in the US sponsor Non-qualified Deferred Compensation (NQDC) Plans for at least some of their executives. As more companies shift their qualified pension plan designs from defined benefit (DB) to defined contribution (DC) and cash balance, NQDC Plans are becoming a more important source of retirement income for key employees. As these plans grow, so do their liabilities. And unlike qualified DC plans, these liabilities are unfunded corporate promises and, as such, are having an increasing impact on many companies' financial statements. Historically, actuaries have not been typically involved with valuing these liabilities, but they should be. NQDC liabilities are complex to value, extremely volatile, and difficult to manage. Counter intuitively, they are also often of longer duration than defined benefit liabilities. In this session, we explore the nature of NQDC liabilities from an actuarial perspective and discuss traditional and not so traditional ways companies are finding to manage the impact of the NQDC plans on company financial statements and cash flow.

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

806 - Mortality Improvement Scale BB and Beyond – Variability and Projection of Pensioner Mortality April 10, 2013 9:45 AM - 11:00 AM

Actuaries are coming to grips with a consistent pattern of mortality improvements and are moving to get ahead of the trend. Panelists discuss the appropriateness of building mortality improvements into actuarial valuations and the mechanics of PPA mortality. Also, a member of the SOA's Retirement Plans Experience Committee previews the results of the new mortality study which is developing as a replacement for the RP-2000 mortality table.

Session Category
Employee Benefits - Assumptions/Methods
Credits
EA Core1.50
CPD1.50
Session Handout

807 - IAS 19 April 10, 2013 9:45 AM - 11:00 AM

The International Accounting Standards Boards (IASB) issued an amendment to the IAS 19 effective January 1, 2013, that significantly changes international accounting for benefit plans. This standard, as well as an update on the status of accounting convergence, are discussed.

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

003 - Principles of Pension Funding April 10, 2013 11:15 AM - 12:45 PM

In 2005, the Academy outlined a principles-based approach to pension plan funding rules. Shortly thereafter, PPA was born. In the years since, economic challenges have continued to test the U.S. pension funding rules that were created by PPA. Five years later, how is PPA measuring up? Our panel analyzes the fundamental principles outlined for single employer plans in 2005 in light of recent experience. Experts in single-employer plans, multiemployer and public plans discuss how these principles apply to each type of plan.

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

  • 1 Kelly Lynn Karger Willis Towers Watson
  • 2 Rhonda Migdail Keightley & Ashner LLP
  • 3 Suzanne C. Wyatt Willis Towers Watson
  • 4 Cynthia R. Travia Pension Benefit Guaranty Corp.
  • 1 David Scharf Buck
  • 2 Pete J. Neuwirth CapAcuity
  • 1 Thomas J. Finnegan CBIZ Retirement Plan Services
  • 2 James E. Holland Cheiron, Inc.
  • 3 Michael W. Spaid Internal Revenue Service
  • 1 Andrew J. Peterson Society of Actuaries
  • 2 Cynthia J. Levering
  • 3 Joseph J. Silvestri US Government Accountability Office
  • 1 Marjorie R. Martin Buck
  • 2 Syed Fahad Saghir Alston & Bird, LLP
  • 3 Tonya B. Manning Buck
  • 4 Leonora Kwan Internal Revenue Service
  • 5 Tom Hindmarch U.S. Department of Labor
  • 6 Chester D. Andrzejewski U.S. Department of Labor
  • 0 Thomas D. Levy Segal Consulting
  • 0 Gordon C. Enderle Willis Towers Watson
  • 0 Sheila Kalkunte American Academy of Actuaries
  • 1 Sheila Kalkunte American Academy of Actuaries
  • 2 Thomas D. Levy Segal Consulting
  • 3 Gordon C. Enderle Willis Towers Watson
  • 1 James E. Turpin The Turpin Consulting Group, Inc.
  • 2 Elizabeth Dold Groom Law Group
  • 1 David R. Godofsky Alston & Bird, LLP
  • 2 James E. Turpin The Turpin Consulting Group, Inc.
  • 3 Michael J. Prame Groom Law Group
  • 1 Judith A. Kermans Gabriel Roeder Smith & Company
  • 2 Terry A.M. Mumford Ice Miller LLP
  • 3 David N. Levine Groom Law Group, Chartered
  • 1 Kevin Joseph Donovan Pinnacle Plan Design, LLC
  • 2 G. Neff McGhie Sierra Pension Services, Inc.
  • 3 Michael W. Spaid Internal Revenue Service
  • 1 Dean M. Crawford Willis Towers Watson
  • 2 Lawrence J. Sher October Three LLC
  • 3 Michael W. Spaid Internal Revenue Service
  • 1 Richard A. Hochman Actuarial Systems Corporation
  • 2 David J. Kupstas Actuarial Consulting Group Inc.
  • 1 Julie A. Curtis retired
  • 2 Elliott M. Friedman Lockheed-Martin
  • 1 Jerrold Dubner PricewaterhouseCoopers LLP
  • 2 Amy Marie Conoscenti Willis Towers Watson
  • 1 Michael E. Clark Principal Financial Group
  • 2 Richard Michael McEvoy Mercer
  • 3 Jonathan R. Barry MFS Investment Management
  • 1 John H. Moore The Terry Group
  • 2 Donald E. Fuerst
  • 3 Eli Greenblum Segal Consulting
  • 4 William R. Hallmark Cheiron, Inc.
  • 5 Michael F. Pollack Willis Towers Watson
  • 1 Donald J. Segal
  • 2 Tonya B. Manning Buck
  • 3 Carolyn E. Zimmerman Internal Revenue Service
  • 4 Harlan M. Weller U.S. Department of the Treasury
  • 5 Linda Marshall Internal Revenue Service
  • 1 John H. Lowell October Three Consulting LLC
  • 2 Patrick W. McDonough Joint Bd. for the Enrollment of Actuaries
  • 3 David M. Ziegler Internal Revenue Service
  • 0 Maria M. Sarli Willis Towers Watson
  • 0 Bruce Cadenhead Mercer
  • 1 David R. Godofsky Alston & Bird, LLP
  • 2 John C. Parkinson CBIZ Retirement Plans Services
  • 3 James A. Kenney Kenney Consulting LLC
  • 1 David R. Godofsky Alston & Bird, LLP
  • 2 Sarah Wright October Three LLC
  • 1 Suzanne C. Wyatt Willis Towers Watson
  • 2 Keith A. Mong Buchanan Ingersoll & Rooney PC
  • 3 William Belanger Willis Towers Watson
  • 1 Anita Juneja Aon
  • 2 Thomas F. Ches Willis Towers Watson
  • 3 Matthew L. Bond Aon Corporation
  • 1 David T. Kausch Gabriel Roeder Smith & Company
  • 2 Mark Olleman Milliman Inc.
  • 1 Dale H. Yamamoto Red Quill Consulting
  • 2 Peter R. Horstman Aon
  • 1 Jerrold Dubner PricewaterhouseCoopers LLP
  • 2 Kenneth K. Lining Aon
  • 1 William R. Hallmark Cheiron, Inc.
  • 2 James J. Rizzo Gabriel Roeder Smith & Company
  • 3 Michelle L. Czerkawski Governmental Accounting Standards Bd.
  • 1 Richard J. Hudson Cheiron, Inc.
  • 2 Donald E. Fuerst
  • 3 Gene M. Kalwarski Cheiron, Inc.
  • 1 Tonya B. Manning Buck
  • 2 Eric A. Keener Aon
  • 3 Michael F. Pollack Willis Towers Watson
  • 4 Carolyn E. Zimmerman Internal Revenue Service
  • 1 Monica L. Gajdel Aon
  • 2 Harold J. Ashner Keightley & Ashner, LLP
  • 1 Gregory C. Braden Morgan, Lewis & Bockius LLP
  • 2 Alex M. Brucker Brucker & Morra
  • 3 David R. Godofsky Alston & Bird, LLP
  • 1 Susan L. Breen-Held
  • 1 Susan L. Breen-Held
  • 2 Eric A. Keener Aon
  • 2 Eric A. Keener Aon
  • 3 David Woodmansee USI Consulting Group
  • 3 David Woodmansee USI Consulting Group
  • 4 Carolyn E. Zimmerman Internal Revenue Service
  • 4 Carolyn E. Zimmerman Internal Revenue Service
  • 5 Tonya B. Manning Buck
  • 5 Tonya B. Manning Buck
  • 1 Maria M. Sarli Willis Towers Watson
  • 2 Mark J. Spangrud Aon
  • 3 Rhonda Migdail Keightley & Ashner LLP
  • 4 Tonya B. Manning Buck
  • 1 Susanne Simon Buck Global, LLC
  • 2 Michael D. Schachet Aon
  • 1 David R. Godofsky Alston & Bird, LLP
  • 2 Sarah Wright October Three LLC
  • 0 Christopher M. Bone Pension Benefit Guaranty Corp.
  • 2 Laurence Pinzur Aon
  • 1 James J. McKeogh The McKeogh Company
  • 2 Larry Howard Weitzner Horizon Actuarial Services, LLC
  • 1 Joshua Shapiro Groom Law Group
  • 2 Joseph A. LoCicero The Segal Group
  • 3 Marc Ness Pension Benefit Guaranty Corp.
  • 1 Matthew G. Deckinger MGD Consulting Inc.
  • 2 Phillip A. Romello Segal Consulting
  • 1 James J. Rizzo Gabriel Roeder Smith & Company
  • 2 William R. Hallmark Cheiron, Inc.
  • 3 Michelle L. Czerkawski Governmental Accounting Standards Bd.
  • 1 Ellen L. Kleinstuber Bolton Partners, Inc.
  • 2 Harold J. Ashner Keightley & Ashner, LLP
  • 3 Laura Rosenberg Fiduciary Counselors Inc.
  • 1 C. David Gustafson Pension Benefit Guaranty Corp
  • 2 Amy C. Viener Pension Benefit Guaranty Corp.
  • 3 Dan Liebman Pension Benefit Guaranty Corp.
  • 1 David J. Kupstas Actuarial Consulting Group Inc.
  • 2 James A. Kenney Kenney Consulting LLC
  • 1 Ellen L. Kleinstuber Bolton Partners, Inc.
  • 2 Bruce Cadenhead Mercer
  • 3 William R. Hallmark Cheiron, Inc.
  • 4 Joshua Shapiro Groom Law Group
  • 1 Lawrence A. Johansen New Hampshire Retirement System
  • 2 Lance J. Weiss Gabriel Roeder Smith & Company
  • 1 Paul Angelo Segal Consulting
  • 2 John Tuohy Office of the Treasurer
  • 1 David N. Levine Groom Law Group, Chartered
  • 2 Brian B. Murphy Gabriel, Roeder, Smith & Company
  • 1 Peter R. Hardcastle Cheiron, Inc.
  • 2 Lars C. Golumbic Groom Law Group
  • 1 Jeffrey Litwin Sibson Consulting, A Division of Segal
  • 2 Kenneth L. Friedman
  • 3 Dan Liebman Pension Benefit Guaranty Corp.
  • 1 James G. Berberian Buck
  • 2 Lloyd A. Katz The Benefit Practice
  • 3 Leonard Earl Smothermon Willis Towers Watson
  • 1 Jonathan Stern Willis Towers Watson
  • 2 Michael W. Spaid Internal Revenue Service
  • 3 Steven H. Klubock Internal Revenue Service
  • 1 Ari N. Jacobs Aon
  • 2 Travis John Winkels Willis Towers Watson
  • 3 Margaret G. McDonald Prudential Financial
  • 1 Lawrence Deutsch Larry Deutsch Enterprises
  • 2 James E. Turpin The Turpin Consulting Group, Inc.
  • 1 Lawrence Deutsch Larry Deutsch Enterprises
  • 2 Marjorie R. Martin Buck
  • 0 Damon Silvers AFL-CIO
  • 0 Brian C. Donohue October Three LLC
  • 0 Ellen L. Kleinstuber Bolton Partners, Inc.
  • 0 Stephen C. Goss Social Security Administration
  • 0 Gary Koenig AARP
  • 1 Bruce Cadenhead Mercer
  • 2 Eric A. Keener Aon
  • 3 Rhonda Migdail Keightley & Ashner LLP
  • 4 Carolyn E. Zimmerman Internal Revenue Service
  • 1 Bruce C. Gaffney Ropes & Gray
  • 2 Alden Bianchi Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
  • 3 Janet Mak Internal Revenue Service
  • 1 James E. Holland Cheiron, Inc.
  • 2 Earl Pomeroy Alston & Bird, LLP
  • 3 Donald E. Fuerst
  • 4 Judy A. Miller ASPPA
  • 1 Joseph F. Hicks CBIZ Retirement Plans Services
  • 2 James J. Donofrio Pension Benefit Guaranty Corp.
  • 3 Nick Novak Pension Benefit Guaranty Corp.
  • 1 Karen Dillman Sebach DATAIR Employee Benefit Systems, Inc.
  • 2 Kevin Joseph Donovan Pinnacle Plan Design, LLC
  • 3 G. Neff McGhie Sierra Pension Services, Inc.
  • 4 Carolyn E. Zimmerman Internal Revenue Service
  • 5 Larry J. Heberle Internal Revenue Service