• 001 - ASOP Updates

    Three Actuarial Standards of Practice recently became effective: ASOP 27 – Selection of Economic Assumptions for Measure Pension Obligations, effective August 1, 2021; ASOP 32 – Social Insurance, effective September 2, 2021; and ASOP 35 – Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations, effective August 1, 2021. Panelists at this session discuss the changes to these ASOPs and how those changes may affect your consulting practice. ASOP 38 – Catastrophe Modeling (for All Practice Areas) will become effective December 1, 2021. In addition, the new ASOP Setting Assumptions was released as the third exposure draft with an April 15, 2021 comment deadline and ASOP 4 – Measuring Pension Obligations and Determining Pension Plan Costs or Contributions was released as a third exposure draft with an October 15, 2021 comment deadline. Panelists at this session discuss the changes to these ASOPs and how those changes may affect your consulting practice.

  • 002 - Business Session & Diversity and Inclusion in a High-Performance Culture

    The CCA’s Business Session begins with the welcoming of attendees, announcement of new directors, Treasurer’s Report and presentation of the CCA’s annual awards. Dr. Ivan Joseph will immediately follow with this year's keynote presentation "Diversity and Inclusion in a High-Performance Culture." A culture of inclusivity is a culture of high performance. Likely you’re prioritizing diversity and inclusion. And, you’ve had setbacks—and need some fresh ideas and inspiration! Dr. Ivan Joseph shares practical and proven strategies to build an inclusive culture. An authority on retention of under-represented populations in predominantly white organizations, Dr. Joseph also speaks movingly from his own experience. He has overcome challenges, broken barriers, and led a transformation toward inclusivity in every organization he’s worked for.

  • 101 - Late Breaking Developments

    Speakers discuss the latest developments in the private pension sector. Recent rulings and regulations - proposed and final - are covered, in addition to pending retirement plan legislation and recent litigation activity.

  • 105 - Practical Aspects of Setting the Expected Return

    Speakers examine both technical and consulting challenges that arise when recommending expected return assumptions for public pension plans. They start by drilling down on some technical pitfalls, including how – and how not – to develop portfolio return statistics, mapping capital market assumptions from various sources, and even a review of the roles of arithmetic and geometric expected returns. Then speakers investigate the overlapping roles and responsibilities of the actuary and the investment consultant. How should the trustees understand differences between our often very different expected returns? And how can we work together to bring the trustees to a prudent understanding of the relationship between asset allocation and the actuary’s investment return assumption?

  • 103 - Annuity Purchase Revolution

    You tell me that it's evolution; Well, you know; We all want to change the world. A lot has evolved in the pension annuity purchase market over the last few years. Speaker address some of that evolution including the increasing market size, the use of independent fiduciaries, assets-in-kind transactions, the use of reinsurance, and other issues affecting the marketplace. We’ll also briefly touch on plan termination issues, but those will be more fully covered in “Lessons Learned from Plan Terminations” (Session 401).

  • 104 - PBGC Discussion of Regulatory Guidance on the American Rescue Plan Act

    The American Rescue Plan Act (ARPA) is arguably the most impactful piece of multiemployer legislation in recent history. ARPA set up a Special Financial Assistance program administered by the PBGC to provide substantial federal relief to deeply troubled multiemployer plans. While the intent of the legislation to provide substantial relief was clear, many details were left to the regulatory process and PBGC released interim final regulations for the Special Financial Assistance program on July 9, 2021. Representatives of the PBGC discuss the guidance in detail including the application process, the calculation of the amount of federal assistance, eligible plans, and operation and investment restrictions for plans that receive assistance.

  • 107 - COVID-19 and the New Workplace

    The pandemic and governments’ reactions to it have had a seismic impact on the workplace. Even for “knowledge workers” whose work wasn’t interrupted, travel (to the office or to client sites) was severely curtailed or eliminated, and the use of video conferencing soared. Our speakers share their views of how the workplace (both the consulting actuary’s and his/her client’s) will evolve, and whether any type of “return to normal” is possible. They’ll also discuss the variety of challenges the new workplace will pose, including managing projects and coordinating workflow, training (particularly for new hires and junior staff), achieving trust between team members, and ensuring effective communication of complex compensation and benefits concepts.

  • 109 - Innovative Healthcare Solutions

    Inefficiencies, high-cost, and gaps in care in the US healthcare system have created opportunities for innovative solutions to offer value to health plans and plan sponsors. This engaging session features leading experts who have spent years developing solutions for health plans as consultants and as strategic leaders within various innovative solution providers. The panel addresses where the biggest opportunities lie to reduce cost and improve care, as well as the various types of programs that have been proven to drive results.

  • 108 - Pharmacy Forecasting – Not Just for Pharmacy Actuaries Anymore

    The pharmaceutical landscape has been changing rapidly in the last decade. More and more of the spend on pharmaceutical drugs is being shifted to the medical benefit. Oncology, gene therapy, and many of the immunomodulators are now administered in a doctor’s office. New methods of forecasting and benefit management need to be considered when looking to the future. Where will these techniques come from? In this session the presenters discuss the history of pharmacy benefit forecasting and management and the emerging techniques that require a unique combination of methodologies from other actuarial disciplines.

  • 102 - Nonqualified Executive Plans: A Look From Participants’ Eyes

    Panelists discuss how nonqualified plans fit into an executive's overall financial plan. Speakers at this consider the effect of recent and proposed tax changes, as well as the impact of other changes in the environment, on how participants and plan sponsors view these plans.

  • 106 - Financial Vaccination for the Next Pandemic Available Through Your Captive

    The Covid-19 pandemic tested the robustness of corporate risk management strategies and insurance programs of virtually every company regardless of size or business sector. Many companies suddenly found themselves unprotected with unanticipated exposures or otherwise were left “holding the bag” of financial losses arising from the pandemic that had been inadequately insured. Speakers discuss innovative uses of corporate captives to close gaps in insurance products in the market regarding risks associated with pandemics as well as trends and emerging practices in captive utilization as a central tool for enterprise risk management. Speakers focus on proactive initiatives companies need to take before the next pandemic strikes.

  • Progressing Your Career: A Women in Consulting Community Forum

    While the Women in Consulting Community is focused on the challenges faced by women actuaries working in consulting, it is not just for women. All attendees can benefit from the conversation, and the shared knowledge helps to foster inclusiveness. This community is currently open to members and non-members alike. If you are a non-member who would like to participate, please e-mail Shannon Peterson.

  • 202 - Dialogue with the PBGC

    PBGC representatives discuss current topics and issues relevant to single and multiemployer retirement plans.

  • 204 - Assessing Pension Investment Strategies in Today's Environment

    ARPA has changed the regulatory environment for corporate pension plans, loosening funding requirements and rules about benefit restrictions. The capital market environment has evolved in ways that few would have anticipated. Speakers review case studies that help sponsors reevaluate their funding and de-risking strategies, and showcase other new approaches emerging in the de-risking space, including the use of derivatives overlays.

  • 201 - Assumption Setting in a COVID-19 Environment

    (Polling Included) Pension actuaries must consider how COVID-19 will affect the assumptions used in valuing pension plan obligations. Mortality is a natural assumption to start with, but the pandemic has dramatically affected the economy and workforce demographic patterns and will likely affect several assumptions. Speakers share how they are approaching this critical topic.

  • 207 - Cyber Risk: Understanding Business and Industry Risks

    Presenters explore the range of business cyber risks, their effect on the employee benefits industry, and the use of cyber risk insurance.

  • 203 - Predictive Analytics and Participant Behavior

    Panelists address issues surrounding participant behavior and how predictive analytics can be used to identify patterns.

  • 208 - Pricing and Trend Implications of COVID-19

    The pandemic and our response to it have sent shockwaves through the country. Economies, systems, governments, employers, and families have all felt the impact. Our health care system was not spared given its critical connection to those entities. The system reacted to massive demand reduction for many services and massive demand increase for others and the impact continues to evolve. Some of the consequences are reflected in claims experience health actuaries study every day. Our panelists offer several illustrations of the pandemic impact on things like total costs and service specific utilization patterns. Additionally, they provide opinions on the persistence of the experience changes the data has revealed.

  • 205 - Public Pension Data Resources

    What data resources are available to actuaries and how can they help? Presenters showcase their publicly available data surveys and visualization tools, as well as ongoing updates, that can help actuaries gather and communicate nationwide pension information.

  • 302 - EA Survivor (Function)

    Outwit. Outplay. Outlast. Come prepared to take on other EAs in this exciting game of EA trivia. You’ll need your HP-12C, a computer/tablet/phone with an internet connection, and lots of stamina to make it through this grueling 75-minute session of past EA exam questions. At stake is eternal EA glory to brag about for years to come (some of our past winners are still bragging).