Professional Standards Seminar
EA Core 5.4 Credits (PD 4.5)
Sunday, March 25, Noon – 5:00 PM

Speakers

Code of Professional Conduct, ASOPs, Qualification Standards, EA Regulations - pension actuaries are surrounded by professional standards. How can we be sure that we are meeting all of these requirements? How do standards benefit us and our clients? Are our standards serving their purpose? What can I and/or my employer do to mitigate exposure?

Whether you have specific questions and concerns or just want an update on professional standards, consider attending this informative, retirement benefits focused seminar on professional standards and ethics (presented on Sunday, March 25, from noon - 5:00 p.m., at the site of, and preceding the Enrolled Actuaries Meeting.)

Speaker: Lucian Acuff -  Acuff & Associates

There is no roadmap to successful marketing of a smaller consulting firm – each firm follows a different path as it winds it way from establishment, through growth on to maturity and continued profitability. Nevertheless, these paths tend to fall into patterns and themes that can be mined for new ideas to create new marketing plans, rejuvenate current plans or provide the branching off point into a new area of business.

Join other smaller consulting firm representatives as we discuss formulating a business plan, marketing the business and optimizing growth for sustained profitability.

Topics for discussion include market positioning, areas of concentration, client communications, marketing strategy, and selling yourself and your services to prospective clients.

Pension Symposium: The Future is Here – So What Does That Mean?
EA Noncore 8.4 Credits (PD 7.0) (May have some Core Credit depending on outcome of discussion.)
Wednesday, March 28, 2:30 – 6:00 PM & Thursday, March 29, 8:00 AM – 12:30 PM

In response to the continuing concern over the funding status of the US pension system,
Congress passed the Pension Protection Act. While the new Act attempts to explain and change the face of funding in the pension world, the actuarial profession is faced with the challenge of figuring out: where the pension system is going, is there still a future for defined benefit plans, are employers just going to terminate their present plans, and what happens when employees realize that the “new” 401k plans are nothing more than savings accounts?

As a profession, we must take a step back and look at the broader picture as our concern extends to nations throughout the world who are facing retirement crises of their own. Listen as we discuss how the private US retirement system is positioned in comparison to its international counterparts, and the importance of employer sponsored retirement plans. The Symposium consists of four sessions – two on Wednesday afternoon and two on Thursday morning. Speakers address the current state of pension plans by identifying strengths, weaknesses, opportunities and threats – with a focus on strengthening retirement security in the US. The purpose of each session is to identify potential pathways for our profession as we collaborate with other stakeholders in defining future directions.

Speakers from the large consulting firms, Senate Finance Committee, AARP, Pension Rights Center, AFL/CIO, PBGC and other Washington related representatives are invited to present their views on what’s happening and where we are headed. These are interactive sessions with short presentations followed by open discussion with the speakers.

Section 1 - Revisiting the Three-legged Stool
Social Security, voluntary employer-sponsored retirement benefits, and individual savings have jointly served as the foundation for retirement security in the United States.

• Does this three-legged model continue to make sense given the new Pension Protection Act?

• What are the conditions for a viable system of voluntary employer-sponsored retirement benefits? If these conditions cannot be met, then what are the implications and where do we go?

• Is there truth to the suggestion that the PPA is simply a device designed to help transition our nation toward an all-individual savings retirement security system?

• Does the administration have a position regarding longevity risks for aging
  Americans?

Section 2 - The Employer’s Perspective
The defined benefit pension plan has been a mainstay of corporate benefit programs for several decades.

• Can and should defined benefit and defined contribution plans co-exist?

• What are the longer term issues associated with DB plan freezes?

• What is the future of cash balance and hybrid plans for the employer?

• Why should an employer want to continue to sponsor a defined benefit plan?

• What risks are appropriate for an employer to assume when sponsoring a defined benefit plan?

• How is the “attract and retain” equation altered by current trends?

• How has the nature of employer commitments to employees been altered?

Section 3 - The Employee’s Perspective
Given a choice, employees always opt for “more” rather than “less.” But in the real world, the choices aren’t so clear – they tend to require trade-offs.

• What sort of plan do employees want?

• Do employees want defined benefit plans?

• What do employees expect from participation in defined benefit plans?

• Are employees sufficiently knowledgeable about the longevity risk?

• How much risk – and what types of risk – are employees willing to assume?

• Are employees equipped to make proper short-term versus long-term decisions?

• What types of education on retirement security matters are needed?

Section 4 - Where Do We Go From Here?
This final section closes with a look ahead. The goal is to develop a vision for a clear and concise future for pension plans. This vision should help guide our profession’s efforts toward building a framework for greater retirement security in the US.

GASB 43/45 Seminar
EA Credit to be determined by final onsite outline and final presentation. (PD 7.0)
Wednesday, March 28, 2:30 – 6:00 PM & Thursday, March 29, 8:00 AM – 12:30 PM

Speakers
Karl Johnson
 Governmental Accounting Standards Board
Kathleen E. Manning
 MWM Consulting Group
James J. Rizzo
 Gabriel Roeder Smith & Company
Dale H. Yamamoto
 Hewitt Associates

Many large public entities have addressed the financial aspects of GASB statements 43 and 45. There have been lessons learned from these experiences and how they may be used for others who have yet to value other post-employment benefits. These new accounting standards represent a significant amount of new actuarial valuation work that has not been done in the past.

In the short-term, the demand will outstrip the supply of actuarial expertise. This seminar provides experienced professionals to share their insights into the actuarial funding and accounting aspects of the new GASB rules. Topics include implementation, forecasting and design changes, including several case studies.