Sessions from the 2011 Enrolled Actuaries Meeting

001 - Case Studies in Professionalism & ASOPs

03/28/2011 - 9:00 am - 10:30 am
Session Category: General Sessions
Credits: EA Core 0.80 EA Core/Ethics 1.00 CPD 1.80

In this interactive session, panelists present three real-life case studies involving the ASOPs and professionalism issues. Attendees are invited to propose solutions, while the panelists present their views on how to analyze and resolve conflicting concerns presented by the case studies.

Speakers:

1. David R. Godofsky - Alston & Bird, LLP
2. Paul B. Zeisler - Buck Consultants
3. Carol R. Sears - Actuarial Consulting Group Inc.

002 - Public Plan Funding - An Emerging Crisis

03/29/2011 - 8:45 am - 10:30 am
Session Category: General Sessions
Credits: EA Core 0.90 EA Noncore 0.90 CPD 1.80

As taxpayers and as users of public services such as roads, rails, parks, and libraries, each of us is affected by the emerging funding problems of public pension plans. Many plans are poorly funded, facing increasing contribution levels, and threatening the budgets and the bond ratings of their sponsors. The press has been focusing on this emerging crisis, including the appropriate role of the actuarial profession and the effects of actuarial practices.

Come listen to representatives of plan sponsors and think-tank experts as they discuss the valuation and management of public pension plans for valuable insights into a problem that affects us all.

Speakers:

1. Frank Todisco - U.S. Government Accountability Office
2. Andrew G. Biggs - American Enterprise Institute
3. Keith Brainard - NASRA
4. Elizabeth McNichol - Center on Budget and Policy Priorities

003 - DB Plans: The Fall and the Rise

03/30/2011 - 11:15 am - 12:45 pm
Session Category: General Sessions
Credits: EA Noncore 1.80 CPD 1.80

Private sector defined benefit pension plans are continuing to die a slow death. As representatives of the retirement community, what is the actuarial profession doing to stave off the extinction of defined benefit plans? Without a major shift in retirement policy, corporate defined benefit plans will continue to disappear. Are we doing our job to educate Congress about this? The average American worker is left increasingly vulnerable following the freeze or termination of their defined benefit plan – have we adequately explained the impact on their retirement income security? New and effective plan designs that are sustainable through economic uncertainty and business cycles are imperative to the survival of defined benefit plans – are we leading the charge to advocate for change?

Despite some major initiatives in these areas, generally the answer is NO. With so much new legislation and regulation emerging in recent years, the leaders of our profession are focused on the details of PPA and managing the intricacies of credit balances, interest rate elections and benefit restrictions. As actuaries, we need to take a step back and focus on the bigger issue of how our profession can advocate for saving private sector defined benefit plans.

Speakers:

1. Lance J. Weiss - Gabriel Roeder Smith & Company
2. Thomas J. Finnegan - The Savitz Organization
3. Michael E. Clark - Principal Financial Group
4. Kenneth W. Porter - Benefits Leadership International, LLC

101 - Pension Relief Act (PRA) for Single ER Plans

03/28/2011 - 11:00 am - 12:30 pm
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.80 CPD 1.80

The speakers at this session cover the Pension Relief Act of 2010 and any Technical Corrections and guidance. The relief amortization calculations and an overview of the Installment Acceleration Amount rules are also addressed. Also covered are the look back rules for credit balance usage for charitable plans, extension of accrual freeze relief, and Social Security level income relief. NOTE: Details of the installment acceleration rules are covered in Session 601, and the delay of PPA rules for charitable plans is covered in Session 307. (Repeated at Session 202)

Speakers:

1. Eric A. Keener - Aon Hewitt
2. Michael F. Pollack - Towers Watson
3. Carolyn E. Zimmerman - Internal Revenue Service

102 - Application of Section 436 Rules to UCEBs and Plan Amendments

03/28/2011 - 11:00 am - 12:30 pm
Session Category: Compliance Issues
Credits: EA Core 1.80 CPD 1.80

Before unpredictable contingent event benefits are paid or plan amendments take effect, the plan actuary must test the effect of the UCEB or the plan amendment on the funded status of the plan. The speakers at this session describe the interplay of the various rules, including the relationship between amounts already included in the funding target for UCEBs and actual UCEB liabilities which arise and must be tested, and considerations under the section 436 regulations in testing whether the UCEB benefits can be paid or the plan amendment can take effect. Plan language that is needed to implement the restrictions is also discussed. (Linked to Session 402)

Speakers:

1. James E. Holland Jr. - Cheiron, Inc.
2. Bruce Cadenhead - Mercer

103 - What's Wrong with This…

03/28/2011 - 11:00 am - 12:30 pm
Session Category: Compliance Issues
Credits: EA Core 1.80 CPD 1.80

Speakers at this practical, interactive session address the professionalism standards as they relate to actuarial reports, AFTAP certifications, and elections, along with many of the common pitfalls an actuary should avoid when issuing an actuarial communication.

Speakers:

1. Margaret S. Berger - Mercer
2. John A. Potts - Deloitte Consulting LLP
3. Susan L. Breen-Held - Principal Financial Group

104 - Advanced Nondiscrimination Topics

03/28/2011 - 11:00 am - 12:30 pm
Session Category: Nondiscrimination Issues
Credits: EA Core 1.80 CPD 1.80

Complex coverage and nondiscrimination rules under 401(a)(4), 410(b) and 414(s) affect all our clients. Panelists address specific testing topics, including cross-testing, testing multiple plans, benefits, rights and features, and how to handle the special issues with respect to frozen (or closed) plans.

Speakers:

1. Anne M. Button - Deloitte Consulting LLP
2. Janice M. Harbold - Aon Hewitt

105 - Pension Relief Act for Multiemployer Plans

03/28/2011 - 11:00 am - 12:30 pm
Session Category: Beyond Corporate Retirement Plans
Credits: EA Core 1.80 CPD 1.80

The speakers at this session cover the relief provisions of the Pension Relief Act of 2010 specific to multiemployer plans, based on available guidance. Panelists cover the specific provisions, along with the conditions required to utilize the relief.

Speakers:

1. Joseph F. Hicks Jr. - The Savitz Organization
2. Joshua A. Shapiro - NCCMP
3. John L. Bohman - O'Donoghue & O'Donoghue

106 - Voluntary Correction Programs (EPCRS)

03/28/2011 - 11:00 am - 12:30 pm
Session Category: Compliance Issues
Credits: EA Core 1.80 CPD 1.80

These days, no one can get everything right all the time. What do you do when you discover a compliance problem? Experts in voluntary corrections discuss real-life case studies and explain the correction programs, including SCP, VCP and CAP.

Speakers:

1. Alex M. Brucker - Brucker & Morra
2. Martin Pippins - Internal Revenue Service

107 - Overview of Assumption Setting

03/28/2011 - 11:00 am - 12:30 pm
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.80 CPD 1.80

In this session, panelists discuss how actuaries select assumptions in light of the guidance available to them, including standards of practice, practice notes and FASB guidance. Speakers at this session focus on all manners of assumptions, such as interest rates, demographic assumptions, and assumptions regarding payments, whether entirely at the actuary's discretion or mandated by law or other authority.

Speakers:

1. Colin England - Bolton Partners, Inc.
2. Daniel Sean Atkinson - P-Solve Cassidy
3. Peter Gerard Rossi - US Dept of Defense Office of the Actuary
4. Stephen C. Goss - Social Security Administration
5. Tonya B. Manning - Internal Revenue Service

201 - Minimum Funding Basics for Single Employer Plans

03/28/2011 - 2:30 - 4:00 pm
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.80 CPD 1.80

Need a refresher on funding basics for single employer plans? This session is a basic, high-level overview of current funding requirements, including any new guidance released. Minimum funding requirements are covered, including quarterly required contributions and liquidity shortfall requirements. The basics of pension funding under funding relief is covered, but Session 101 -Pension Relief Act for Single Employer Plans provides a more in-depth discussion. Quarterly contribution requirements are also covered in more detail in Session 501- Managing Credit Balances and Quarterlies. (Repeated at Session 401.)

Speakers:

1. Susan L. Breen-Held - Principal Financial Group
2. Julie Michelle Ferguson - Mercer
3. Michael B. Hanley - Towers Watson

202 - Pension Relief Act (PRA) for Single ER Plans

03/28/2011 - 2:30 - 4:00 pm
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.80 CPD 1.80

The speakers at this session cover the Pension Relief Act of 2010 and any technical corrections and guidance. The relief amortization calculations and an overview of the Installment Acceleration Amount rules are also addressed. Also covered are the look back rules for credit balance usage for charitable plans, extension of accrual freeze relief, and Social Security Level Income relief. NOTE: Details of the Installment Acceleration Rules are covered in Session 601, and the delay of PPA rules for charitable plans is covered in Session 307. (Repeat of Session 101.)

Speakers:

1. Eric A. Keener - Aon Hewitt
2. Michael F. Pollack - Towers Watson
3. Carolyn E. Zimmerman - Internal Revenue Service

203 - Late Breaking Developments

03/28/2011 - 2:30 - 4:00 pm
Session Category: New Rulings/Development
Credits: EA Core 0.90 EA Noncore 0.90 CPD 1.80

Panelists review new guidance provided over the last year, with special focus on important developments that occur shortly before the meeting. The speakers may address rulings, regulations, litigations, and other exciting news. (Note – the breakdown between core and non-core credit is determined based on the actual content of the session.)

Speakers:

1. John H. Moore - TTerry Consulting LLC
2. Ethan E. Kra - Ethan E. Kra Actuarial Services LLC
3. Kent A. Mason - Davis & Harman LLP

204 - PBGC Potpourri for Small Plans

03/28/2011 - 2:30 - 4:00 pm
Session Category: Small Plan Issues
Credits: EA Core 1.80 CPD 1.80

Hear from representatives of a variety of PBGC departments about issues that directly relate to small plans. Find out what do when your client is going out of business and needs to terminate their pension plan. Understand reportable event filing requirements for small plans, what happens when a small plan misses contributions, and distress terminations for small plans. Learn about common premium filing errors, MyPAA enhancements and more. Attendees are encouraged to come prepared to ask questions of subject matter experts.

Speakers:

1. Kristina Archeval - Pension Benefit Guaranty Corp.
2. Amy C. Viener - Pension Benefit Guaranty Corp.
3. Armando Pompei Saavedra - Pension Benefit Guaranty Corp.

205 - Multiemployer PPA Zone Review

03/28/2011 - 2:30 - 4:00 pm
Session Category: Beyond Corporate Retirement Plans
Credits: EA Core 1.80 CPD 1.80

With more plans falling into either endangered or critical status, this session is a review of the thresholds for each of the statuses, the implications of being in a particular status and what it takes to emerge. The presenters at this session also review the types of corrective actions available to endangered and critical plans.

Speakers:

1. Larry H. Weitzner - Horizon Actuarial Services, LLC
2. Amanda Jean Notaristefano - The McKeogh Company

206 - Is Your Frozen Plan in Trouble?

03/28/2011 - 2:30 - 4:00 pm
Session Category: Compliance Issues
Credits: EA Core 0.90 EA Noncore 0.90 CPD 1.80

Speakers at this session cover the many issues associated with frozen plans, including compliance, funding, nondiscrimination, and BRF issues.

Speakers:

1. Daniel P. Cassidy - P-Solve Cassidy
2. Dean M. Crawford - Towers Watson

207 - ASB Standards for Pension Actuaries

03/28/2011 - 2:30 - 4:00 pm
Session Category: Professionalism and Policy
Credits: EA Core 1.80 CPD 1.80

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.

Speakers:

1. Sheila Kalkunte - American Academy of Actuaries
2. Gordon C. Enderle - Towers Watson
3. James F. Verlautz - Mercer

301 - The Game of At-Risk – Conquering the Issues of Your At-Risk Plans

03/28/2011 - 4:30 - 5:45 pm
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.50 CPD 1.50

Speakers at this session cover the rules relating to at-risk status, calculation of at-risk liabilities, determination of at-risk contributions and other consequences of being at risk. Attention is also given to the restrictions on executive benefit funding.

Speakers:

1. David R. Jarrett - Buck Consultants
2. Amy Carter Sullivan - Transamerica Retirement Solutions

302 - Participant Communications

03/28/2011 - 4:30 - 5:45 pm
Session Category: Non-Technical Communications
Credits: EA Core 1.50 CPD 1.50

Effective communications have always been an important element to managing a retirement program, but PPA has made proper communication essential. In recent years, some of these communication issues have become more prevalent for defined benefit plans. In this session, the speakers review the disclosure requirements and communication strategies relating to Section 436 benefit restrictions, relative value of optional forms, ERISA 204(h) and participant benefit statements. Come away with the knowledge to navigate these complex participant communications.

Speakers:

1. Ellen L. Kleinstuber - The Savitz Organization
2. Marvin Lee Stokes - Aon Hewitt
3. Barbara Haws - Towers Watson

303 - Accounting Convergence

03/28/2011 - 4:30 - 5:45 pm
Session Category: Accounting Issues
Credits: EA Core 0.75 EA Noncore 0.75 CPD 1.50

Convergence of accounting rules has been on the horizon for a number of years. The speakers in this session review the issues, give a status update, and predict where (and when) the rules are likely to shake out.

Speakers:

1. Jerrold Dubner - PricewaterhouseCoopers LLP
2. John A. Potts - Deloitte Consulting LLP

304 - Small Plan Workshop

03/28/2011 - 4:30 - 5:45 pm
Session Category: Small Plan Issues
Credits: EA Core 0.75 EA Noncore 0.75 CPD 1.50

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.)

Speakers:

1. Lawrence Deutsch - Larry Deutsch Enterprises
2. Marjorie R. Martin - Buck Consultants

305 - Corporate In-house Actuaries

03/28/2011 - 4:30 - 5:45 pm
Session Category: Professionalism and Policy
Credits: EA Noncore 1.50 CPD 1.50

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.)

Speakers:

1. Leslie A. McIntosh - Weyerhaeuser Company
2. Deborah A. Tully - Raytheon Company

306 - Impact of Healthcare Reform

03/28/2011 - 4:30 - 5:45 pm
Session Category: Accounting Issues
Credits: EA Noncore 1.50 CPD 1.50

Healthcare reform made a variety of changes that affect retiree medical valuations directly and indirectly. Our panelists briefly review the changes, discuss approaches to measuring their impacts for the valuation and how to reflect the new rules under ASC 715-60. The panelists also discuss how reform may affect valuation assumptions in general.

Speakers:

1. Dale H. Yamamoto - Red Quill Consulting
2. Milind Kirit Desai - Aon Hewitt

Session Coordinator/Recorder:

Keith T. Sartain - Aon Hewitt

307 - Eligible Charitable Plan

03/28/2011 - 4:30 - 5:45 pm
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.50 CPD 1.50

Are any of your clients 501(c)(3) organizations? Do you know if their DB plan is sponsored by more than one employer (not just if they are multiple-employer)? If they fall under the classification of eligible charity plans, they may be forced to revert to pre-PPA funding and benefit restriction rules. In this session, learn how this applies to your clients.

Speakers:

1. Craig P. Rosenthal - Mercer
2. Zorast Wadia - Milliman Inc.

401 - Minimum Funding Basics for Single Employer Plans

03/29/2011 - 11:00 am - 12:30 pm
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.80 CPD 1.80

Need a refresher on funding basics for single employer plans? This session is a basic, high-level overview of current funding requirements, including any new guidance released. Minimum funding requirements are covered, including quarterly required contributions and liquidity shortfall requirements. The basics of pension funding under funding relief are reviewed, but Session 101 - Pension Relief Act for Single Employer Plans provides a more in-depth discussion. Quarterly contribution requirements are also covered in more detail in Session 501- Managing Credit Balances and Quarterlies. (Repeat of Session 201.)

Speakers:

1. Susan L. Breen-Held - Principal Financial Group
2. Julie Michelle Ferguson - Mercer
3. Michael B. Hanley - Towers Watson

402 - Section 436 Lump Sum and Benefit Accrual

03/29/2011 - 11:00 am - 12:30 pm
Session Category: Compliance Issues
Credits: EA Core 1.80 CPD 1.80

As funding levels drop, plan actuaries will need to become more conversant with the section 436 restrictions on the payment of lump sums and other restricted benefits, and on the continuation of benefit accruals. Presenters at this session describe the application of the rules, the choices that are available when restrictions apply, and the options a plan can provide when restrictions cease to apply. The speakers at this session also discuss plan language that may be needed to implement these restrictions.

Speakers:

1. James E. Holland Jr. - Cheiron, Inc.
2. Eric A. Keener - Aon Hewitt
3. Mark T. Dungan - Towers Watson

403 - Discussion of Gray Book & Blue Book Questions and Answers

03/29/2011 - 11:00 am - 12:30 pm
Session Category: Compliance Issues
Credits: EA Core 1.80 CPD 1.80

Experienced practitioners involved in the process lead a review of government responses to the Gray Book 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.

Speakers:

1. Maria M. Sarli - Towers Watson
2. Bruce Cadenhead - Mercer

404 - Qualification Standards and Joint Board Regulations

03/29/2011 - 11:00 am - 12:30 pm
Session Category: Professionalism and Policy
Credits: EA Core 1.80 CPD 1.80

Attend this session for an update on the Qualification Standards including the narrowing of the EA exemption for continuing education effective in 2011. Also hear about the proposed regulations issued by the Joint Board for the Enrollment of Actuaries issued in 2009, including some of the key comments received (or final regulations, if released).

Speakers:

1. Karen Nowiejski Smith - Nova Pension Valuations LLC
2. Carolyn E. Zimmerman - Internal Revenue Service

405 - Withdrawal Liability Refresher and PBGC Technical Update 10-3 for Multiemployer Plans

03/29/2011 - 11:00 am - 12:30 pm
Session Category: Beyond Corporate Retirement Plans
Credits: EA Core 1.80 CPD 1.80

Withdrawal Liability is back. PBGC Technical Update 10-3 provides guidance on simplified methods for applying the PPA requirement for a multiemployer plan in critical status. Beyond simply disregarding certain benefit reductions in determining the plan's unfunded vested benefits for purposes of determining an employer’s withdrawal liability, there is a lot to know about this topic. The presenters at this session review each of the statutory withdrawal liability allocation methods and also how to deal with critical status benefit reductions that have to be disregarded when assessing withdrawal liability.

Speakers:

1. James J. McKeogh - The McKeogh Company
2. Constance Markakis - Pension Benefit Guaranty Corp.

406 - Current Issues w/Public Employee Retirement Systems

03/29/2011 - 11:00 am - 12:30 pm
Session Category: Beyond Corporate Retirement Plans
Credits: EA Core 1.80 CPD 1.80

A panel of experienced public plan actuaries discuss current issues including: sustainability, plan design, defined contribution developments, risk measurement and management and actuarial assumptions.

Speakers:

1. Mark Olleman - Milliman Inc.
2. Lance J. Weiss - Gabriel Roeder Smith & Company

407 - Cash Balance - Recent Developments

03/29/2011 - 11:00 am - 12:30 pm
Session Category: Plan Design Issues
Credits: EA Core 1.80 CPD 1.80

The presenters at this session review developments affecting cash balance and other hybrid defined benefit plans, including the proposed and final regulations issued in October 2010. Topics include, among others, market rates of return, whipsaw (lump sum, annuity, and funding), backloading, age discrimination, and cash balance conversions. (Repeated at Session 608)

Speakers:

1. Lawrence J. Sher - October Three LLC
2. Richard Shea - Covington & Burling LLP
3. Michael W. Spaid - Internal Revenue Service

501 - Managing Credit Balances and Quarterlies

03/29/2011 - 2:00 - 3:30 pm
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.80 CPD 1.80

The presenters at this session provide a refresher on the rules governing credit balances, including calculation of credit balances, elections, and election deadlines. Effects of credit balances on various funded status threshold tests and related strategies are also covered. Finally, the panelists cover satisfying quarterly required contributions with credit balances, contributions, or a combination thereof, and the effect of late contributions on credit balance elections.

Speakers:

1. Mark T. Dungan - Towers Watson
2. David Scharf - Buck Consultants

502 - IRS Focus Group

03/29/2011 - 2:00 - 3:30 pm
Session Category: Compliance Issues
Credits: EA Core 1.80 CPD 1.80

Representatives of the Employee Plans Division of the IRS meet with session attendees 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.)

Speakers:

1. Donald J. Segal
2. Seth H. Tievsky - Internal Revenue Service
3. Martin Pippins - Internal Revenue Service
4. David M. Ziegler - Internal Revenue Service
5. Andrew Zuckerman - Internal Revenue Service

503 - ERISA Litigation Affecting DB Plans

03/29/2011 - 2:00 - 3:30 pm
Session Category: New Rulings/Development
Credits: EA Core 1.80 CPD 1.80

Speakers on this panel review recent court decisions affecting defined benefit plans and pension actuaries.

Speakers:

1. John H. Lowell - P-Solve Cassidy
2. Gregory C. Braden - Morgan, Lewis & Bockius LLP
3. David R. Godofsky - Alston & Bird, LLP

504 - Small Plan Funding Issues

03/29/2011 - 2:00 - 3:30 pm
Session Category: Small Plan Issues
Credits: EA Core 0.90 EA Noncore 0.90 CPD 1.80

Small plans can be tricky. Often, legislators and regulators create inadvertent pitfalls just when they thought they were helping you out. The panelists' presentation should help you navigate those gotchas before they attack your small plans.

Speakers:

1. Richard A. Hochman - McKay Hochman Co., Inc.
2. Howard P. Rosenfeld - Rosenfeld/Tortu Ret. Planning

505 - Multiemployer Plans Workshop

03/29/2011 - 2:00 - 3:30 pm
Session Category: Beyond Corporate Retirement Plans
Credits: EA Core 1.80 CPD 1.80

This session is an opportunity for multiemployer plan actuaries to engage in a discussion of practical issues, problems and experiences encountered in their practices. (This session is not recorded.)

Speakers:

1. Matthew G. Deckinger - MGD Consulting Inc.
2. Peter R. Hardcastle - Cheiron, Inc.

506 - Reductions in Force

03/29/2011 - 2:00 - 3:30 pm
Session Category: PBGC/Plan Termination Issues
Credits: EA Core 1.80 CPD 1.80

Your client is reducing their workforce. What are the effects on company financials and are there any nondiscrimination issues? Will the reduction trigger a partial plan termination and/or an ERISA Section 4062(e) event? What are the notification requirements to PBGC, what liabilities to the plan might need to be settled, and what is the process? These are some of the questions scheduled for discussion by PBGC and private practitioners.

Speakers:

1. Kelly Lynn Karger - Towers Watson
2. Lonie A. Hassel - Groom Law Group
3. Ajit Gadre - Pension Benefit Guaranty Corp.

507 - PEP Design

03/29/2011 - 2:00 - 3:30 pm
Session Category: Plan Design Issues
Credits: EA Core 1.80 CPD 1.80

Panelists review the design of the Pension Equity Plan (PEP) from a technical perspective. What works? What doesn't? For example, how does the PEP design satisfy the accrual rules and age discrimination requirements? How does a PEP satisfy the market rate of interest requirements for hybrid plans?

Speakers:

1. Bruce C. Gaffney - Ropes & Gray
2. Robert E. Walter
3. Carly Nichols - Buck Consultants
4. Carolyn E. Zimmerman - Internal Revenue Service

601 - Impact of Installment Acceleration Rules

03/29/2011 - 4:00 - 5:30 pm
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.80 CPD 1.80

The Pension Relief Act allows single employer plan sponsors to elect reduced shortfall amortization payments. However, larger employers may find the benefit of the relief mitigated by installment acceleration rules associated with 1) aggregate excess employee compensation and 2) aggregate amount of extraordinary dividends and stock redemptions for the plan year. The panelists discuss how the conditions are defined, how the installment acceleration amount (IAA) is calculated, how to allocate the IAA across multiple plans and multiple elections years, how to apply caps and carryovers, the impact on later installments, etc. The speakers include illustrative examples of the impact on funding.

Please attend the Pension Relief Act for Single Employer Plans (Sessions 101 or 202) for a broader overview of the provision.

Speakers:

1. Maria M. Sarli - Towers Watson
2. Kenneth K. Lining - Aon Hewitt

602 - Lump Sums

03/29/2011 - 4:00 - 5:30 pm
Session Category: Compliance Issues
Credits: EA Core 1.80 CPD 1.80

The panel covers a variety of issues encountered by plans which pay lump sums. Topics covered may include calculation of lump sums, methodologies for valuing lump sums in accounting and funding valuations, top-25 restrictions on lump sum payment, 415 limits, grandfathering of more generous actuarial conversions than PPA, and calculations of benefits earned following an earlier lump sum payment.

Speakers:

1. Jeanette C. Wagner - Towers Watson
2. Lisa G. Ullman - PricewaterhouseCoopers LLP

603 - Fiduciary Basics

03/29/2011 - 4:00 - 5:30 pm
Session Category: Compliance Issues
Credits: EA Core 1.80 CPD 1.80

The current economic, regulatory and litigation climate is increasing the focus on fiduciary issues and related issues of sound benefit plan governance for DB plans. The speakers at this session review the basic responsibilities all fiduciaries should be aware of, including best practice compliance approaches and case studies of common situations which may create fiduciary concerns. The panelists also cover rules non-fiduciaries (including Enrolled Actuaries) should observe to avoid inadvertently becoming fiduciaries.

Speakers:

1. Barbara Haws - Towers Watson
2. Andrew L. Oringer - Dechert LLP
3. William Belanger - Towers Watson

604 - Small Plan Design and Technical Issues

03/29/2011 - 4:00 - 5:30 pm
Session Category: Small Plan Issues
Credits: EA Core 0.90 EA Noncore 0.90 CPD 1.80

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, general tested formulas, and DBk Plans.

Speakers:

1. Lawrence Deutsch - Larry Deutsch Enterprises
2. Kevin Joseph Donovan - Pinnacle Plan Design P C
3. Thomas J. Finnegan - The Savitz Organization

605 - ERISA Basics

03/29/2011 - 4:00 - 5:30 pm
Session Category: Compliance Issues
Credits: EA Core 1.80 CPD 1.80

A survey of the basic rules applicable to qualified pension plans. As the rules have multiplied, do you find it more difficult to keep track of all the requirements? This session is for you! The speakers on this panel review the basics and give you a road map to a fully compliant plan!

Speakers:

1. David C. Kaleda - Alston & Bird, LLP
2. Christine Shaffer Nassor - Towers Watson

Session Coordinator/Recorder:

Sarah A. Burke - Alston & Bird, LLP

606 - Funding Methods for Governmental Plans

03/29/2011 - 4:00 - 5:30 pm
Session Category: Beyond Corporate Retirement Plans
Credits: EA Core 1.80 CPD 1.80

Governmental plans are not subject to the ERISA regulations on funding methods. However, most governmental plans use some type of level funding method to determine the recommended contributions. Lately, the methodology used has come under scrutiny, particularly in the media. The presenters at this session discuss the funding methods used for governmental plans and the reasoning behind variations. The speakers also address the criticism that has been voiced in the press.

Speakers:

1. Paul Angelo - The Segal Company
2. Douglas L. Rowe
3. Judith A. Kermans - Gabriel Roeder Smith & Company

607 - Overview of the Code of Professional Conduct

03/29/2011 - 4:00 - 5:30 pm
Session Category: Professionalism and Policy
Credits: EA Core/Ethics 1.80 CPD 1.80

It may have been awhile since you last reviewed our Code of Professional Conduct in detail. Our panel of experts helps you in refreshing your knowledge of the Code and include an overview of some common situations faced by Enrolled Actuaries.

Speakers:

1. Thomas C. Griffin - American Academy of Actuaries
2. Lawrence A. Johansen - New Hampshire Retirement System

608 - Cash Balance - Recent Developments

03/29/2011 - 4:00 - 5:30 pm
Session Category: Plan Design Issues
Credits: EA Core 1.80 CPD 1.80

The presenters at this session review developments affecting cash balance and other hybrid defined benefit plans, including the proposed and final regulations issued in October 2010. Topics include, among others, market rates of return, whipsaw (lump sum, annuity, and funding), backloading, age discrimination, and cash balance conversions. (Repeat of Session 407.)

Speakers:

1. Lawrence J. Sher - October Three LLC
2. Richard Shea - Covington & Burling LLP
3. Michael W. Spaid - Internal Revenue Service

701 - Form 5500 Topics

03/30/2011 - 8:00 - 9:15 am
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.50 CPD 1.50

Gone are the days of “same as last year” preparation of Form 5500. 2010 brought many changes – among them are electronic filing with EFAST2, Schedule C disclosures, and potentially increased liability as a paid preparer. More changes are coming in 2011, including PTINs and the new Schedule 8955-SSA. Come join our panel for a discussion of these issues and how pension professionals and plan administrators have been dealing with them.

Speakers:

1. Ellen L. Kleinstuber - The Savitz Organization
2. Janet Rabinowitz - Towers Watson

702 - Investment for Pension Risk Management for Ongoing and Frozen Plans

03/30/2011 - 8:00 - 9:15 am
Session Category: Investment Issues
Credits: EA Core 1.50 CPD 1.50

What should actuaries know about managing pension investments to control risk? Speakers at this session cover a plan's investment strategy over its life cycle, including special considerations for frozen or closed plans, and de-risking as your plan's funded position improves.

Speakers:

1. Eric I. Palley - Guggenheim Partners
2. David Anthony Kelly - Mercer
3. Gene M. Kalwarski - Cheiron, Inc.

703 - Dialogue with the JBEA

03/30/2011 - 8:00 - 9:15 am
Session Category: Compliance Issues
Credits: EA Core 1.50 CPD 1.50

We expect to have new Joint Board regulations in time for this year's meeting. Come hear the details from key Joint Board members and get your questions answered.

Speakers:

1. Donald J. Segal
2. Patrick W. McDonough - Joint Bd. for the Enrollment of Actuaries
3. Carolyn E. Zimmerman - Internal Revenue Service

704 - PBGC Update

03/30/2011 - 8:00 - 9:15 am
Session Category: PBGC/Plan Termination Issues
Credits: EA Core 1.50 CPD 1.50

A panel of PBGC representatives provide 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.

Speakers:

1. Amy C. Viener - Pension Benefit Guaranty Corp.
2. C. David Gustafson - Pension Benefit Guaranty Corp.
3. Laricke Blanchard - Pension Benefit Guaranty Corp.
4. Catherine B. Klion - Pension Benefit Guaranty Corp.

705 - Disclosure Rules for Multiemployer Plans Under Section 101(k)

03/30/2011 - 8:00 - 9:15 am
Session Category: Beyond Corporate Retirement Plans
Credits: EA Core 1.50 CPD 1.50

PPA added disclosure rules for multiemployer plans. The Department of Labor issued final regulations in 2010 interpreting those rules. Under those regulations, almost anything the plan actuary provides to the client will be subject to broader disclosure than ever before. The speakers at this session cover the regulations and the practical implications of the rules. Learn what documents must be provided and what circumstances and conditions exist surrounding this disclosure requirement.

Speakers:

1. Hal S. Tepfer - The Savitz Organization of Massachusetts
2. Lars C. Golumbic - Groom Law Group

706 - GASB Update

03/30/2011 - 8:00 - 9:15 am
Session Category: Beyond Corporate Retirement Plans
Credits: EA Core 1.50 CPD 1.50

GASB has suggested possible changes that would dramatically alter the accounting rules with respect to governmental plans. Our panelists review the latest developments related to GASB standards for pension and retiree welfare accounting. A discussion on comments submitted last September on potential modifications to the pension standards, likely future direction and the exposure draft if issued. You can also expect the speakers to discuss best practices that have emerged under GASB 45 and what kind of modifications might be suggested when GASB solicits comments on it.

Speakers:

1. Paul Angelo - The Segal Company
2. Kenneth L. Friedman - Milliman Inc.

707 - Mortality Assumptions in the 21st Century

03/30/2011 - 8:00 - 9:15 am
Session Category: Assumptions/Methods
Credits: EA Core 1.50 CPD 1.50

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.

Speakers:

1. Christopher M. Bone - Edth Limited LLC
2. Diane M. Storm - Actuarial Systems Corporation
3. Alice H. Wade - Social Security Administration
4. Laurence Pinzur - Aon Hewitt

801 - Completing the Schedule SB

03/30/2011 - 9:45 - 11:00 am
Session Category: Funding and Schedule B Issues
Credits: EA Core 1.50 CPD 1.50

Are you comfortable yet with the Schedule SB? Speakers at this session review the Schedule SB in detail, including the impact of final regulations and the Pension Relief Act. Come learn what’s new, what to look out for, and how to get it right. For other Form 5500 topics, such as electronic filing and Schedule C changes, refer to Session 701.

Speakers:

1. Amy Marie Conoscenti - Towers Watson
2. Fred A. Peterson - Aon Hewitt
3. Michael W. Spaid - Internal Revenue Service

802 - Distress Terminations and the Early Warning Program

03/30/2011 - 9:45 - 11:00 am
Session Category: PBGC/Plan Termination Issues
Credits: EA Core 1.50 CPD 1.50

In the aftermath of the 2008 market decline, falling interest rates and continued economic uncertainty, the PBGC may be knocking at your client’s door, or your client may be knocking at the PBGC’s door. PBGC has become more proactive – find out what this means for you and your clients.

At the same time, distress terminations (out of bankruptcy) are becoming increasingly popular with employers. Learn about early warnings and the distress termination process and pitfalls that may be encountered. Come prepared with your questions. A general understanding of the plan termination process is assumed.

Speakers:

1. Ellen L. Kleinstuber - The Savitz Organization
2. Harold J. Ashner - Keightley & Ashner, LLP
3. Kristina Archeval - Pension Benefit Guaranty Corp.

803 - Dialogue with the IRS

03/30/2011 - 9:45 - 11:00 am
Session Category: Compliance Issues
Credits: EA Core 1.50 CPD 1.50

A panel of high ranking IRS 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.

Speakers:

1. Donald J. Segal
2. Harlan M. Weller - U.S. Department of the Treasury
3. Linda Marshall - Internal Revenue Service
4. Carolyn E. Zimmerman - Internal Revenue Service
5. Tonya B. Manning - Internal Revenue Service

804 - Advanced Assumption Setting in Volatile Times

03/30/2011 - 9:45 - 11:00 am
Session Category: Assumptions/Methods
Credits: EA Core 1.50 CPD 1.50

Beyond the basics of assumption setting (see Session 107), what additional considerations might you want to include when you set actuarial assumptions? How should you reflect short term expected changes due to the current economic environment in the assumptions (e.g., discount rate, salary scale, form of payment, retirement age, etc.)? What differences should be assumed for forecasting? When should you use best estimate versus when should you base an assumption on the market?

Speakers:

1. Colin England - Bolton Partners, Inc.
2. Daniel Sean Atkinson - P-Solve Cassidy
3. Peter Gerard Rossi - US Dept of Defense Office of the Actuary
4. Stephen C. Goss - Social Security Administration

805 - Multiemployer Plans -- New FASB Disclosure Requirements

03/30/2011 - 9:45 - 11:00 am
Session Category: Beyond Corporate Retirement Plans
Credits: EA Noncore 1.50 CPD 1.50

The Financial Accounting Standards Board (FASB) released exposure drafts in 2010 related to loss contingencies (withdrawal liability for multiemployer plans) and for disclosure about an employer’s participation in a multiemployer plan. Learn what contributing employers must disclose in their financial statements and how it might affect the plans in which they participate (based on available guidance.)

Speakers:

1. Joyce A. Mader Esq. - O'Donoghue & O'Donoghue LLP
2. Cindy Marie Fraterrigo - PricewaterhouseCoopers LLP

806 - Public Employee Retirement Systems Workshop

03/30/2011 - 9:45 - 11:00 am
Session Category: Beyond Corporate Retirement Plans
Credits: EA Noncore 1.50 CPD 1.50

This is an open forum on current topics of concern to public plan actuaries. This year the speakers focus the discussion on the issue of public plan unfunded liabilities and the extensive press and controversy. Are costs too high? Are benefits too high? Other possible topics include the GASB Preliminary Views, potential insolvency, setting funding assumptions, asset valuation methods, salary spiking, and the focus of public interest on the government sector plans in today’s economy. (This session is not recorded.)

Speakers:

1. William B. Fornia - Pension Trustee Advisors
2. Lawrence A. Johansen - New Hampshire Retirement System

807 - FICA & Early Inclusion

03/30/2011 - 9:45 - 11:00 am
Session Category: Nonqualified Plans
Credits: EA Noncore 1.50 CPD 1.50

Do you remember making a decision on early inclusion for FICA taxes in a nonqualified plan? Times have changed - perhaps your initial decision needs to change, too. Come find out.

Speakers:

1. David Scharf - Buck Consultants
2. Seth D. Chosak - Towers Watson
3. Thomas Dean Matthews - Towers Watson

Conference of Consulting Actuaries - Advancing The Practice
The Conference of Consulting Actuaries (CCA) supports consulting actuaries in all practice areas, in many countries. Members of the CCA receive support and assistance with professionalism, continuing education, client work, representing members' interests, and research support. [More]

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Phone: 847-719-6500 | Fax: 847-719-6506 | E-mail: conference@ccactuaries.org