Sessions by Day
Monday, May 4
1-A-1 - Megatrends and Macro Risks for Retirement Plans
In the coming decades, America’s demographic and economic landscape is poised for significant transformation, influenced by a variety of dynamic forces. Evolving patterns of work and retirement as well as the shifting age‐dependency ratios both in the US and globally, are set to reshape our society. While some experts are optimistic about the potential advances in biomedicine to enhance our longevity, it is important to acknowledge the importance of addressing challenges such as public health, future pandemics, and lifestyle choices. Additionally, the roles of artificial intelligence, climate change, and other global trends present uncertainty and risk for the future.
This Enrolled Actuaries Conference session explores ideas, data trends, and analysis of these megatrends and macro factors while considering how these factors may influence the long‐term sustainability of single‐employer, multiemployer, and public retirement systems. The panelists may also discuss proactive strategies that actuaries can do today to assist plan sponsors in navigating the future.
Credits:
CPD Credit: 1.50
1-B-1 - Late Breaking Developments
Speakers discuss the latest developments in the private pension plan sector. Topics that may be covered include recently enacted and pending legislation; proposed and final regulatory guidance and other regulatory activity; recent litigation; and pending and adopted revisions to the Actuarial Standards of Practice.
Credits:
CPD Credit: 1.50
1-B-2 - Funding Policy With an Emphasis on Plans Moving to Surplus
A panel of public plan actuaries discuss special assumption considerations and funding policies for situations that go beyond the CCA Public Plans Community’s “White Paper,” including surplus management, multiple employer/multiple design municipal plans, and Texas’s approach to funding soundness restoration plans.
Credits:
CPD Credit: 1.50
1-B-3 - Dealing With Takeover Issues
Panelists detail issues related to takeover cases including difficulties in replicating prior valuation results, missing data and documents, and an uncooperative prior actuary. Additionally, they discuss warning signs that give hints about sticky takeover cases.
Credits:
CPD Credit: 1.50
1-B-4 - Update from the PBGC - Multiemployer Edition
This session is an opportunity for multiemployer pension actuaries to hear directly from PBGC on the SFA program and other key topics of interest in regard to PBGC’s multiemployer insurance program. Representatives discuss updated statistics about plans that have already received SFA, observations on the application process, PBGC guidance, “lessons learned” from applications received to‐date, what to expect for plans that have not yet applied, updates on the census data review process in the last year, and information on filings to demonstrate compliance with conditions after receiving SFA; review PBGC’s most recent financial position and projected funding position of the multiemployer insurance program; discuss the new 4044 assumptions and the impact on withdrawal liability calculations; and cover other PBGC activities – including the upcoming premium due date, changes to the Form 5500, and newly available resources (i.e., the most recent pension insurance data tables).
Credits:
CPD Credit: 1.50
1-C-1 - Recent Court Cases of Interest to Retirement Actuaries
The speakers review recent court decisions, ongoing litigation and complaints filed that could affect defined benefit plans or pension actuaries. This year's cases involve actuarial malpractice, actuarial equivalence, actuarial assumptions, erroneous benefit determinations, recent Supreme Court decisions, and many others.
Credits:
CPD Credit: 1.50
1-C-2 - Breathing New Life Into Retirement Plans: The Corporate Pension Revitalization Council
The Corporate Pension Revitalization Council is a CCA-supported initiative charged with developing ideas for a new retirement plan model to bridge the gap between current DB and DC plans. The project has been underway for over a year, and in this session council members share some of the concepts that have come out of the deliberations. The panel will also review the council’s key objectives and priorities, and there will be ample time for comments and feedback from the audience.
Credits:
CPD Credit: 1.50
1-C-3 - Small Plan Design (Nondiscrimination Issues, Too)
Small plan design and nondiscrimination testing go hand in hand, and some practitioners believe floor offset plans are the most effective way to provide benefits under a DB/DC combination. Others are not so sure. The panelists share their insights and tips on how to design DB/DC small plans, including floor offset plans, and explore benefit calculations, the impact of IRC section 415, and other issues.
Credits:
CPD Credit: 1.50
1-C-4 - Do Your Reports Measure Up? ASOP Communication and Disclosure Rules
We all issue actuarial reports, but do we all know what should (and must) be in them? Many of the pension ASOPs have undergone review and update in recent years, and new ASOPs have been introduced. With these changes in the communication and disclosure rules in the ASOPs, it can be easy to miss a step. The presenters have planned a practical session to help you make sure your actuarial reports comply with professionalism standards and the various ASOP requirements. You can also learn about some of the common pitfalls to avoid when issuing an actuarial communication.
Credits:
CPD Credit: 1.50
1-D-1 - Required Minimum Distributions Issues (and More?)
The IRS finalized new 401(a)(9) regulations in July 2024, reflecting the SECURE Act and certain SECURE 2.0 changes, and issued proposed regulations for other SECURE 2.0 changes. Speakers review both the proposed and final rules affecting defined benefit and defined contribution plans.
Credits:
CPD Credit: 1.50
1-D-2 - Managing Volatile Capital Market Assumptions
Description forthcoming.
Credits:
CPD Credit: 1.50
1-D-3 - Hot Topics in Accounting
Speakers address recent accounting issues and considerations from the perspective of both actuaries and auditors under ASC 715, 960 and 965 as well as IAS 19.
Credits:
CPD Credit: 1.50
1-D-4 - Variable Benefit Plans – What Problems Do They Solve?
In recent years there has been a gradual but steady trend of multiemployer plan sponsors moving toward variable benefit plans. In this session, speakers discuss the forces behind this trend. Topics include the issues and challenges these designs address, and how variable benefit plans have the potential to benefit both participant and employer stakeholders. In addition to the actuarial perspective, the panel will include speakers from both labor and management who have hands-on experience with these plan designs.
Credits:
CPD Credit: 1.50
Wednesday, May 6
2-A-1 - Economic Assumptions in a Changing Environment
Equity and fixed income markets have faced volatility and uncertainty recently. How can plan sponsors and actuaries navigate this economic environment? Speakers review recent developments in capital markets, explore how those developments affect the management of retirement plans and discuss how actuaries should approach the assumption setting process.
Credits:
CPD Credit: 1.50
2-A-2 - Update on GASB and ASB OPEB Standards
Other Postemployment Benefits (OPEB) are prevalent in the public sector. Speakers discuss a variety of topics related to Public Sector OPEB Plans, including OPEB funding strategies, funding vehicles, plan design, and valuation issues.
Credits:
CPD Credit: 1.50
2-A-4 - ASC 715 Overview
Speakers provide a general overview of ASC 715 accounting for pension and other postretirement benefit plans. This session is meant for attendees that are newer to working under this standard or who need a refresher. Some examples of special events such as curtailments and settlements will also be discussed.
Credits:
CPD Credit: 1.50
2-B-1 - Ethics
In this highly interactive session, panelists and audience members discuss solutions to difficult ethical situations faced by actuaries in their day‐to‐day practices, including dealing with the IRS, correcting errors, billing clients, and clarity of communications. We also discuss how ethical determinations may be affected by professional rules, and the differences between Joint Board regulations and rules of the US actuarial organizations (AAA, SOA, CCA, ASEA).
Credits:
CPD Credit: 1.50
2-C-1 - Church Plans (or Not)
Panelists review the latest developments in church plan litigation and discuss practical actuarial and administrative issues for church plans in the current environment.
Credits:
CPD Credit: 1.50
2-C-2 - Pension Reform Strikes Back
Following the Great Recession, many public pension systems implemented significant pension reforms – closing defined benefit (DB) plans to new hires, creating reduced benefit tiers, or suspending COLAs. In recent years, a surprisingly counter trend has emerged: A number of these reforms are being partially or fully reversed. This session will examine real-world case studies of DB plan re-openings, tier restorations, and COLA reinstatements. Speakers explore the workforce, fiscal, and political dynamics driving these reversals, and the lessons they offer for designing sustainable, resilient pensions. Attendees can expect to gain a deep insight into how workforce effects fiscal policy and stakeholder engagement can make or break pension reform.
Credits:
CPD Credit: 1.50
2-C-4 - Risk Mitigation Strategies
A key lesson from the past 15 years is that multiemployer pension plans become increasingly vulnerable to market declines as they mature. Purchasing annuities for a segment of the retiree population can be an effective tool for mitigating this risk, and one that has become more cost‐effective as interest rates have retreated from historic lows. Panelists discuss the factors that trustees should consider when making this decision, review best practices for actuaries helping boards understand the key issues, and provide an overview of the process from start to finish.
Credits:
CPD Credit: 1.50
2-D-1 - Credible or Incredible Experience Data
Pension and other retirement benefit valuations require actuaries to set many different assumptions. For medium‐sized plans this often involves reviewing experience data that is too small to be credible but too large to ignore. Panelists explore the art and science of fitting appropriate rates to small experience sets, leveraging information from other similar sources, and validating proposed rates as better than the prior assumption when applicable. Panelists also discuss actuarial judgement and adjusting rates to better predict the future as opposed to replicating the past.
Credits:
CPD Credit: 1.50
2-D-2 - Plan Termination Consulting and Considerations
Standard plan terminations have been on the rise over the last ten years and their prevalence is expected to continue into the near future. Plan terminations follow a very prescriptive process with timelines, notices, filings, and the eventual liability settlement. Speakers at this session review the plan termination process and discuss the considerations that need to be given as we work with clients to successfully navigate the process.
Credits:
CPD Credit: 1.50
2-D-3 - Retirement Plan Issues for Persons With Self-Employment Income
Sole proprietors and partners face unique restrictions on funding their retirement plans. The speakers focus on the determination of compensation for self-employed persons, special rules on self-employed contributions and how to allocate contributions among partners and between self-employed persons and other employees.
Credits:
CPD Credit: 1.50
2-D-4 - Update from the Joint Board
Representatives of the Joint Board for the Enrollment of Actuaries discuss current developments and other information relevant to Enrolled Actuaries and the profession at large. In addition, the panelists provide an overview of the requirements that the Joint Board regulations impose on Enrolled Actuaries. Attendee questions are encouraged.
Credits:
CPD Credit: 1.50
Friday, May 8
3-A-1 - Social Security Funded Status and Future Alternatives to Save it
Panelists provide an overview of the Social Security program’s current financial position along with near‐ and long‐term projections, and identify the most critical economic and demographic drivers of the program’s financial well‐being. Key assumptions relied on in making these projections are identified, along with the methodology used in selecting them.
Our experts also discuss the kinds of changes to current taxes and benefits are projected to be required to achieve long-term sustainability, and look at legislative proposals (past and potential in the future) to bolster the long‐term financial status of the program.
Credits:
CPD Credit: 1.50
3-A-2 - 415 for Public Plans in the Current Economy
Panelists at this session review the mechanics of 415 and special rules for public sector plans. Section 415 calculations in the public sector have different treatment for certain public safety employees, issues surrounding COLAs and may have hidden surprises in early retirement incentives for plans that otherwise may not have 415 concerns.
Credits:
CPD Credit: 1.50
3-A-3 - Funding Strategies, Minimum Requirements, Opportunities, and Pitfalls
Qualified single employer plans must meet minimum funding requirements including in some cases quarterly deposits and potentially even liquidity shortfall contributions. Panelists cover the key elements of minimum required contributions, such as annual amounts, quarterly deposits, voluntary/mandatory/automatic credit balance elections, and liquidity shortfall contributions. In the process, speakers present strategies to mitigate these challenges, as well as discuss opportunities to accelerate or characterize contributions to reduce plan costs like PBGC premiums or to minimize other administrative burdens such as benefit restrictions.
Credits:
CPD Credit: 1.50
3-A-4 - SFA Post-Receipt Investment / Fiduciary Issues
Special financial assistance (SFA) is a lifeline for eligible multiemployer pension plans, but navigating both the application process and ongoing compliance requirements can be complex. Speakers briefly review recent developments in SFA applications, highlighting key trends with a focus on post‐SFA requirements, including the annual statement of compliance, funding rules, and applicable conditions and restrictions. Come and gain a better understanding of how to maximize the chances of a successful SFA application and ensure plans remain compliant after receiving SFA.
Credits:
CPD Credit: 1.50
3-B-1 - New Issues in DC Plans
The DC plan landscape continues to evolve. Speakers address some key issues that plan sponsors and consultants want to be aware of as they navigate the DC plan landscape. The speakers point out the changes to DC plans from SECURE 2.0, the growing Pooled Employer Plan market, and prevailing attitudes from employees about DC benefits based on recent research from the SOA Retirement Section.
Credits:
CPD Credit: 1.50
3-B-2 - Missing Participants and Post-NRA Issues
Plans are continuing to experience problems with missing participants, many who may be past the Normal Retirement Date. Do you know what to do when you are trying to terminate the plan and can’t locate someone? What about when people appear after age 65 or age 70? Get some help with your questions as our panel reviews how to determine the benefits that should be provided when people reappear, and thoughts on what to do if they don’t.
Credits:
CPD Credit: 1.50
3-B-3 - Retro Adoption/Amendments
Prior to 2020 qualified plans were required to be adopted prior to the employer’s year end. With the Secure Act, plans can now be adopted post tax year end. How do you implement a retroactive DB Plan, how is it established and what challenges are there with existing plans? The speakers discuss the many planning and compliance issues with plans adopted after the end of the employer’s tax year.
Credits:
CPD Credit: 1.50
3-B-4 - Bias in Pension Actuarial Work
How does bias creep into the assumptions and models pension actuaries use to providing actuarial services? What can you do to identify and avoid bias?
Credits:
CPD Credit: 1.50
3-C-1 - Single Employer Regulator Update: IRS, PBGC and Treasury
A panel of representatives from the IRS, PBGC, and Treasury Department provide updates and 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.
Credits:
CPD Credit: 1.50
3-C-2 - Public Employee Retirement Systems Workshop
Join your public plan colleagues in a candid, open discussion of current issues. Session topics may include ASOP 4, plan design, impact of inflation, and practical discussions of issues raised in other sessions.
Credits:
CPD Credit: 1.50
3-C-4 - Withdrawal Liability Litigation Update
Court decisions that affect the assessment, calculation, and collection of withdrawal liability continue apace. Speakers discuss these developments, with particular emphasis on actuarial assumption challenges, the treatment of partial withdrawal liability credits, statute of limitations, and issues particular to plans that have or hope to receive Special Financial Assistance.
Credits:
CPD Credit: 1.50
3-D-1 - AI and Technology in the Actuarial Workplace
ChatGPT and other advanced AI and analytic technologies are becoming increasingly prevalent in today’s workplace. Learn about what these technologies do, how they are being used, and how they will shape the future of work in actuarial consulting.
Credits:
CPD Credit: 1.50