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ACOPA Actuarial Symposium Agenda

FRIDAY, AUGUST 18

7:45 a.m. - 8:20 a.m.
Registration and Continental Breakfast

8:20 a.m. - 8:40 a.m.
Welcome and Introductions

8:40 a.m. - 10:20 a.m.
Workshop 1: Regulatory Update
CE: JBEA Core, JBEA Formal, ASPPA, ERPA
We can't know what new regulations will be out in advance of this conference, but we do know that there will be concerns and questions about guidance that has been issued. This session will provide an overview of new legislation and recent IRS/Treasury guidance impacting defined benefit plans, and will highlight areas of concern. After attending this session, session participants will be able to:

  • Recall the guidance that has been released by the IRS and Treasury in the last year.
  • Identify the situations in which the recent changes in the guidance may affect their clients.
  • Describe the effects that changes in the guidance may have on their clients.

Judy Miller, MSPA, ACOPA Executive Director, Director of Retirement Policy, American Retirement Association, Arlington, VA
Michael W. Spaid, MSPA, QPA; Actuary, Internal Revenue Service, Seattle, WA

10:20 a.m. - 10:35 a.m.
Beverage Break

10:35 a.m. - 12:15 p.m.
Workshop 2: Ethics
CE: JBEA Ethics, JBEA Formal, ASPPA Ethics, ERPA

You have been hired by Acme’s new CEO. Acme has been embroiled in very public and expensive litigation regarding alleged kickbacks in a department completely unrelated to the pension department. The new CEO wants to restore Acme’s reputation and has instituted a zero tolerance for unprofessional and unethical behavior. He has instructed every department to rebuild their policies from the ground up and is unconcerned with the financial impact. Nothing is off the table. You finally have the freedom to build the practice and job you have always wanted! What would you do? What would you tell the staff to stop doing? What clients or advisors would you fire and why?

Learning Objectives:

  • Recall IRS and JBEA ethics guidance including Circular 230 and JBEA regulations
  • Describe ethics best practices for both supervisors and rank and file employees
  • Identify ways to resolve common barriers to implementing best practices

Karen Smith, MSPA; President, Nova 401(k) Associates, Houston, TX

12:15 p.m. - 1:15 p.m.
Lunch

1:15 p.m. - 2:30 p.m.
Workshop 3: AFTAP Elections
CE: JBEA Core, JBEA Formal, ASPPA, ERPA
The session will discuss the calculation of the AFTAP under the benefit restriction rules complicated by special rules concerning required actuarial certification of the plan's AFTAP and presumptions that apply prior to that certification and the treatment of reductions in credit balances. The session will also discuss the extent to which the AFTAP status restricts benefits taking into account the timing of the commencement and cessation of a restriction, as well as the interaction of the presumptions and the actuarial certification. The session will cover the things sponsors can do to avoid the application of benefit restrictions, and the things they can to, in effect, make up for benefits lost during a restriction period. After attending this session, participants will be able to:

  • Determine a plan's AFTAP.
  • Determine the extent to which an AFTAP status restricts benefits.
  • Understand options for mitigating any restrictions.

James E. Holland, Jr., FSPA; Chief Research Actuary, Cheiron, Inc., McLean, VA

2:30 p.m. - 2:45 p.m.

Beverage Break

2:45 p.m. - 4:00 p.m.
Workshop 4: Take Over Plans
CE:JBEA Core, JBEA Formal, ASPPA, ERPA
This session will identify a variety of issues that occur when taking over a defined benefit plan including defined contribution issues for DB DC combos. The speaker will address a variety of topics including issues with regards to cooperation, data, prior benefit determinations and prior filings. After attending this session, session participants will be able to:

  • Discuss rules and professional responsibility regarding take over plans
  • Identify most difficult areas to focus on.
  • Describe best practices in plan set up for funding and ongoing administration

Michael Z. Eaton, MSPA, CPC, QKA, QKA; Crested Butte, CO
Kurt F. Piper, FSPA; Owner & Chief Actuary, Piper Pension & Profit Sharing, Venice, CA

4:00 p.m. - 4:15 p.m.
Beverage Break

4:15 p.m. - 5:30 p.m.
Workshop 5: Cash Balance Plans
CE: JBEA Core, JBEA Formal, ASPPA, ERPA
The session will discuss the cash balance designs and include a discussion of different interest crediting rates. Also issues beyond the cash balance benefits including asset rates of return. After attending this session, session participants will be able to:

  • Discuss rules and professional responsibility regarding take over plans
  • Identify most difficult areas to focus on

Kevin J. Donovan, MSPA; President, Pinnacle Plan Design, LLC, Tucson, AZ

5:30 p.m. - 6:30 p.m.
Networking Reception

SATURDAY, AUGUST 19

7:15 a.m. - 8:00 a.m.
Continental Breakfast

8:00 a.m. - 9:15 a.m.
Workshop 6: DC Pitfalls
CE: JBEA Non-Core, JBEA Formal, ASPPA
This session will identify a variety of issues that occur with defined contribution plans when combining with a defined benefit plan for testing. The speaker will address a variety of topics including issues with regards to coverage, gateway, and plan design. After attending this session, session participants will be able to:

  • Discuss rules relating to DB DC combos
  • Identify areas most likely to cause problems with testing
  • Describe best practices in plan design and administration

John R. Markley, FSPA, CPC, CEO; Markley Actuarial Services, Inc., Lancaster, PA

9:15 a.m. - 9:30 a.m.
Beverage Break

9:30 a.m. - 11:10 a.m.
Workshop 7: Actuarial Potpourri
CE: JBEA Non-Core, JBEA Formal, ASPPA
This session will identify a variety of issues that we may occasionally encounter but may need an update or review. The speakers will address a variety of topics including issues with regards to FASB calculations and disclosures, church plans, and public (governmental) plans. After attending this session, session participants will be able to: 

  • Discuss rules relating to FASB calculations and disclosures, including updates
  • Interpret recent updates relating to church plans
  • Identify issues and updates regarding public plans

James E. Holland, Jr., FSPA, Chief Research Actuary, Cheiron, Inc., McLean, VA
William G. Karbon, MSPA, CPC, QPA; Executive Vice President & Director of Compliance, CBIZ Benefits & Insurance Services, Inc., Lawrenceville, NJ
Richard Kutikoff, MSPA; President, Pacific Benefit Services, Sherman Oaks, CA

11:10 a.m. - 11:25 a.m.
Ed Burrows "Humdinger" Award Presentation

11:25 a.m. - 11:40 a.m.
The Actuarial Foundation Presentation

11:40 a.m. - 12:00 p.m.
ACOPA Business Meeting

12:00 p.m. - 1:00 p.m.
Lunch

1:00 p.m. - 2:15 p.m.
Workshop 8: ASOPs Update
CE: JBEA Core, JBEA Formal, ASPPA, ERPA
ASOP 21 brought about an increased amount of disclosures in our work. What has changed since that ASOP was released? This session will cover actuarial standards of practice relevant to your everyday practice. The discussion will include practical applications of the ASOP's. Pending ASOP and their implications will also be discussed. After attending this session, session participants will be able to:

  • Gain a broader understanding of the current and proposed ASOP's.
  • Apply applicable ASOP's for various client engagements.

Lynn M. Young, MSPA; Consulting Actuary, Pinnacle Plan Design, LLC, Phoenix, AZ
Mary Ann Rocco, MSPA, Mary Ann Rocco, EA Consulting Actuary, Huntington Beach, CA

2:15 p.m. - 2:30 p.m.
Beverage Break

2:30 p.m. - 3:45 p.m.
Workshop 9: Benefit Calculations and QDROs
CE: JBEA Core, JBEA Formal, ASPPA, ERPA
Session will focus on calculating accrued benefits under various formulas and determine if a formula satisfies minimum accrual standards. The session will discuss the impact that distributions and late retirement factors have on the calculation of post-NRA accruals. The session will explain the requirements for QJSA, QOSA and QPSA and how each might be waived. The session will cover QDRO policy and procedures and compare shared payment and separate interest QDROs. Topics will include the actuarial adjustment of assigned benefits and discuss the issues related to the assignment of death benefits. After attending this session, session participants will be able to:

  • Describe and calculate accrued benefits under various forumlas
  • Determine retirement benefits payable after NRA using applicable factors.
  • Understand the requirements for QJSA, QOSA and QPSA and how each might be waived.
  • Describe the elements of a QDRO.

Lauren Okum, MSPA; Premier Actuarial Solutions, Chicago, IL
Michael B. Preston, FSPA, MAAA, EA; President, Preston Actuarial Services, Inc., Orland, CA

3:45 p.m. - 4:00 p.m.
Beverage Break

4:00 p.m. - 5:15 p.m.

Workshop 10: Ask the Experts
CE: JBEA Core, JBEA Formal, ASPPA, ERPA
Here's you chance to get answers to your technical and outstanding question from a panel of pension plan experts. Come prepared with your question that you have encountered in your practice. After attending this session, session participants will be able to:

  • Relate with peers on technical issues and examine outstanding questions about pension plans
  • Collaborate with experts to receive feedback on pension plans

Kevin J. Donovan, MSPA; President, Pinnacle Plan Design, LLC, Tucson, AZ
James E. Holland, Jr., FSPA, FCA, MAAA, ASA, EA; Chief Research Actuary, Cheiron, Inc., McLean, VA
Michael W. Spaid, MSPA, QPA; Actuary, Internal Revenue Service, Seattle, WA

5:15 p.m.
Conference Adjourns