Annual Meeting Retirement Sessions

Come get your 2.0 EA Ethics credits as we discuss case studies covering ethical challenges and dilemmas facing pension actuaries. Audience participation is highly encouraged.

Applying traditional defined benefit GAAP accounting rules to market-based cash balance plans produces irrational and volatile results. To address these concerns, the CCA established a working group to study these designs and prepare recommendations for alternative accounting approaches that would better represent the economics of these designs. Speakers provide an update on the findings and recommendations of the working group.

The pension plan annuity purchase market has evolved significantly since 2012 when the GM and Verizon deals ushered in a new era in pension risk management. We've had new entrants into the market, new innovations, and new issues. The panelists in this session discuss what's new in the annuity purchase market from the insurer perspective to ensure that consultants understand how to best approach the market to optimize results for their clients.

Non-qualified Deferred Compensation (NQDC) participants and executives face many challenges in developing effective retirement income strategies that differ in significant ways from those of rank-and-file employees. Speakers explore both the similarities and differences between the two groups and discuss tools and techniques that are most appropriate for those whose assets include NQDC accounts, including a look at the rules on distribution options under IRC Section 409A.

ASOP 27 has been revised to include ASOP 35, which will be retired once ASOP 27 is effective. Learn what has been changed.

The SECURE 2.0 Act has continued the themes and reforms of the SECURE Act of 2019, which were getting more participants into the retirement system, providing participants ways to accumulate more assets and ensuring participants are connected with those assets when retirement comes. Speakers provide an overview of the key SECURE 2.0 provisions impacting DC plans, including any guidance available on such provisions and any provisions that still are in need of guidance.

Economic trends and company-specific needs often lead to workforce changes. Retirement plans can often be used to facilitate a smooth transition for affected employees. Speakers discuss the strategic, logistical, compliance, and accounting aspects of early retirement windows and other workforce management initiatives.

ERISA turns 50 next year. Whether you are under age 50 or already have passed that mark, don't let a refined knowledge of ERISA remain on your actuarial bucket list. Attend this session and start scratching that item off this year.

Panelists discuss the issues around hedging liabilities (i.e., minimum funding, PBGC, accounting, and termination) including the different risk factors involved. They discuss the practical implementation of hedging strategies along with current challenges to hedging pension liabilities today. Panelists also discuss the role that pension actuaries can play to help facilitate a successful hedging strategy with their clients.

With the recent rise in interest rates many plans are now looking much better funded, and may be within reach of terminating, but is that the only option? What about re-opening the plan, or are there other options altogether? Panelists discuss the pros and cons of termination, continued hibernation, and re-opening along with some ways to use any plan overfunding.

The nuts and bolts of the plan termination process, including small plans and nuances. PBGC input on what they want and issues they've seen will be included.

The postretirement defined benefit plan landscape changes frequently (e.g. lump sum windows, annuity purchases, spinoffs, mergers, business combinations, plan changes, etc.). Clients look to consulting actuaries for guidance on the accounting effects of different events. Clients also look to consulting actuaries for actuarial assumption guidance. At this session, actuaries from accounting firms discuss challenges faced, how they worked with auditors, consulting actuaries, and clients; and resolution considerations based on their experiences and observations. Join us for an interactive session.

Come learn about recent developments in the world of mortality. In this session, speakers discuss the state of mortality improvement and the interplay between experience studies, augmented mortality models, and credibility analysis. Why are experience studies important? What are some of the considerations for improvement models? And how can we incorporate this latest thinking when consulting with our clients? How can credibility analysis be used with augmented mortality models? Hear our panel of mortality experts address these issues and more in this not-to-be missed session.

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.

What do employees want out of their retirement program? How will employers meet these needs in the coming decade? Speakers discuss the recent SOA survey and new/emerging trends in the retirement landscape.

Correcting administrative errors may be one of the few things more complicated than administering pension plans. Luckily the SECURE 2.0 Act of 2022 has made it a little easier. Come learn about the recent changes to the IRS Employee Plans Compliance Resolution System (EPCRS) and what it means going forward.

Panelists discuss issues relating to single-employer plans and PBGC that companies may face. Speakers discuss recent developments and provide practical tips and best practices for working with PBGC. Topics include standard terminations, distress and involuntary terminations, the early-warning program, 4010 filings, reportable events, 4062(e) liability, coverage, recent guidance and developments, and the Advocate.

With SECURE 2.0 now law, what does that mean for designing DC plans? How do the SECURE 2.0 required provisions impact the rest of the design of the DC plan and what are the benefits of including the optional provisions provided under SECCURE 2.0? Panelists provide their thoughts on the answers to these questions. Features such as allowing employer contributions to be contributed as Roth, matching student loan payments, adding in-plan emerging savings accounts and more are addressed.

Does small plan design seem like Jason seeking the golden fleece? Do these testy waters give you fear and trepidation or do they excite you with a spirit of adventure? Learn how to remove the mythology out of small plan design and construct solutions your clients will treasure!

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

Have you ever received a client email saying, "Fabulous actuarial report you sent. I just couldn't stop reading it." Indeed, this may seem like actuarial fantasy or science fiction. While this session will remain reality based, why not attend and discover how your reports and communications can become at least a little more intriguing.

Small plan actuaries need to be aware of the SECURE 2.0 Act's provisions in order to help their clients comply with the new rules. Topics include closed plan rule changes, retroactive plan adoption, retroactive amendments as well as various defined benefit provision changes.