Registration Information

	CCA Member	EA Meeting Attendee	All Other Participants
Professional Standards Seminar	$185	$215	$265
Small Firms Seminar	$160	$185	$205
GASB 43/45 Part Two Seminar	$485	$505	$535
Pension Symposium	$355	$375	$405

Registrations received four business days out from seminar date are considered on­site and are an additional $50.

Space is limited and available on a first come, first-served basis. Registrations are only processed when accompanied by full payment.

All cancellations must be in writing (fax 847/719-6506). Cancellations received on or before 2/28/08 are refunded full fee less 25% administration fee.

Cancellations received after 2/28/08 are refunded full fee less 50% administration fee.

No refunds 15 business days before the seminar.
 

Professional Standards Seminar

Sunday, April 6, Noon - 5:00 PM
EA Core 5.4 Credits

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.

Presenters: Carol Sears, Larry Johansen, TBA

Small Firms Seminar

Wednesday, April 9, 2:00-6:00 PM
EA Noncore 4.2 Credits

There is no roadmap to successful marketing of a smaller consulting firm – each firm follows a different path as it winds its 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.

Presenters: Lucian B. Acuff, Acuff & Associates

GASB 43/45 Part II Seminar

Wednesday, April 9, 2:00-6:00 PM
Thursday, April 10, 8:00 - Noon
EA Credit to be determined by final onsite outline and onsite presentation.

Being one year farther along in the GASB cycle, more valuation work is coming to light. Last year’s seminar explored the basics and this year the seminar continues on addressing the vast amount of issues in accounting and funding presented by GASB. 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.

Presenters: Dale Yamamoto, James Rizzo, Noel Thomas, TBA

Pension Symposium: De-risking the Pension Plan

Wednesday, April 9, 2:00 - 6:00 PM
Thursday, April 10, 8:00 - Noon
EA Noncore 8.4 Credits

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 is focused on putting pension plans on a sounder financial footing, the actuarial profession is faced with sorting out a host of new rules that will almost certainly lead to greater funding volatility. Simultaneously, the profession is grappling with new balance sheet volatility resulting from the new mark-to-market accounting in FAS 158.

Sponsors of frozen pension plans are dismayed to discover that their frozen plans in a mark-to-market world display even more volatility than their ongoing plans once did in the “old days” of actuarial smoothing.

Volatility mitigation strategies are very much the talk of the actuarial profession. This year’s Pension Symposium takes a close look at traditional risk mitigation strategies, as well as some of newer strategies on the horizon.

The Symposium consists of four sessions – two on Wednesday afternoon and two on Thursday morning. The speakers address the current state of risk mitigation in pension plans by discussing the full spectrum of hedging strategies. In addition, they share state of the art thinking on the emerging trends in pension finance solutions. The purpose of each session is to identify potential pathways for our profession as we collaborate with other stakeholders in defining the future direction of pension plans.

Selected speakers from the large consulting firms, government agencies, financial entities and other Washington related groups are invited to present their views on various aspects of de-risking pension plans. Attendees are encouraged to participate actively in the discussion in this highly interactive “roundtable” format.

Section 1 - LDI and Hedging Interest Rate Risk
The behavior of pension liabilities in response to changes in interest rate movement is well known to actuaries and others familiar with finance. This section identifies the array of strategies typically called Liability Driven Investing (or, LDI) and explores their effectiveness at hedging this interest rate risk.

• Exactly what is LDI?

• What are the new, innovative LDI products or approaches today?

• What are “best tools” or “best techniques” in exploring hedging strategies?

• What are the capital market developments that have influenced LDI solutions?

Section 2 - Hedging Longevity Risk
Sponsors of frozen pension plans are making a conscious choice to continue exposure to certain types of risk. While the first section of the Symposium deals with interest rate risk, this section takes a look at longevity risk. With ever-increasing life expectancies, this particular risk may gain more attention in the years to come.

• How significant is longevity risk to a plan sponsor?

• What are the traditional and non-traditional ways of mitigating this risk?

• At what point does a plan sponsor decide to mitigate this risk?

• At what cost can this risk be hedged?

Section 3 - Total de-risking of the plan for the sponsor who wishes to continue to be in the sponsor role
Today, sponsors who freeze their pension plans overwhelmingly choose to remain in the plan sponsor role. However, they also tend to view pension risk very differently after a freeze.

• Can a frozen pension plan be managed in a manner that creates value?

• What do sponsors see as the risk/reward trade-off of maintaining sponsorship of a frozen plan?

• What are the barriers to plan termination?

• Are there risks beyond interest rate and longevity risk that must be tended to?

• What is the ultimate “end game” for a frozen plan?

Section 4 - Total de-risking of the plan for the sponsor who wishes to move out of the sponsor role
The traditional means by which sponsors escape pension obligations is through the purchase of annuity policies. Capital market solutions have been identified as possible alternatives to the traditional insurance company route.

• Why have plan sponsors largely avoided annuity based buy-outs (terminations)?

• What stands in the way of financial buyers stepping in and buying pension plans?

• What are the risk factors involved in pension buy-outs?

• From the sponsor’s perspective?

• From the buyer’s perspective?

• From the participant’s perspective?