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2010 CCA Audiocast
Schedule
Cosponsored by the
American Academy of Actuaries
Registration Policy
(Registration Process Revised
9/22/2009)
Registration closes at 9:00 AM central
time on the day of the respective audiocast.
Individual Registration:
Registration rates are based on the member status of the
individual registering for the audiocast using the following rates:
Conference Members - $165*
Academy Members - $180*
Non-members - $195*
Group
Registration: $330*
(includes two non-Conference member certificates)
Registration for this event acknowledges that you are aware
of and agree to uphold the "Code
of Professional Conduct." Two or more persons may participate
under a group registration (individuals
sitting in one room using one phone line).
Presentation materials are sent to the group
coordinator for distribution. Additional
non-Conference members (above the initial
two) who wish to receive a continuing
education certificate are charged a $25
processing fee per individual certificate.
Following the conclusion of the audiocast,
all participating Conference members receive
a continuing education certificate at no
additional charge.
*
Registrations received one week prior to the
audiocast are charged a $50 late fee. Fees
listed are applicable for participants in
U.S. only. Participants outside the
U.S. will incur additional phone line
charges payable by the participant.
Audiocast Registration Process
(Registration Process Revised
9/22/2009)
-
To register for the
audiocast, please use the
CCA Audiocast Registration Form and submit the
appropriate payment through the CCA Online Store.
-
Confirmations are
automatically generated through the website at
registration.
-
(Revised Process) An
e-mail will be
forwarded to the individual or group administrator
on the Monday before the audiocast containing
a PDF
version of the presentation,
call-in instructions, and
a
link to request your personalized PIN number that allows
you to connect to the call through the conferencing
service.
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Certificates for
individuals are forwarded on the Friday following
the audiocast.
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Group administrators
must provide a list of attendees who require
certificates no later than two weeks after the audiocast.
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Credits are entered on
www.ActuarialCPD.org (the continuing education
tracking tool) for all attendees who are CCA members.
Cancellation Policy
Cancellations received in writing within one week prior of the seminar will be refunded the
full fee minus a $50 processing fee. After these dates no refunds will be
available. |
Upcoming 2010
Audiocasts:
Pension Funding Relief
September 14, 2010
12:30 PM – 1:45 PM EDT
Credit: CPD/EA Core 1.5
Register Now
Cosponsored by the American Academy of Actuaries
and the Society of Actuaries.
Special Registration Rates for This Audiocast
CCA Members - $165*
SOA or Academy Members - $180*
Non-members - $195*
Group Registration - $330*
Moderator:
Ellen L. Kleinstuber, FCA, MAAA, EA, ASA, MSPA, The Savitz
Organization
Presenter:
Tonya B. Manning, FCA, FSA, MAAA, EA - Consulting Actuary
Maria M. Sarli, FCA, FSA, MAAA, EA - Towers Watson
Carolyn E. Zimmerman - Internal Revenue Service
PRA 2010 provides welcome funding and benefit restriction
relief for sponsors of single employer defined benefit plans. As with any
new pension legislation, some aspects appear relatively straight-forward
while other provisions raise a plethora of questions to (hopefully) be
addressed by future regulatory guidance. Our panel of presenters will first
cover the basics of the funding relief options, then move on to address
issues related to plans with PPA delayed effective dates, the complexities
of the “cash flow rule” that may limit the relief available to certain
employers, the impact on certain benefit restrictions and the notification
requirements for plan sponsors electing relief. The session concludes with a
discussion of the consulting considerations for actuaries working with their
clients to evaluate the relief options available to them.
Ellen L. Kleinstuber, FCA, MAAA, EA,
ASA, MSPA has over 15 years experience in the pension and
actuarial field. Her specific expertise includes ERISA and Internal Revenue
Code compliance for single employer plans, Pension Protection Act defined
benefit funding and administration issues, retirement plan design and
communications, and defined benefit plan terminations. She is also
experienced in defined benefit funding and accounting valuations, pension
plan administration, nondiscrimination testing and annual compliance
filings.
As a member of the ERISA compliance practice, Ellen provides research and
consulting support to the actuarial and pension administration outsourcing
practices, and assists with the development, review and maintenance of the
firm’s standard reports and compliance documents. She is also responsible
for the training and continuing education programs for the firm’s
professional staff and serves as the editor of the Savitz client newsletter,
For Your Benefit.
Ellen is a frequent speaker at the annual Enrolled Actuaries meeting, as
well as the annual meetings of the Conference of Consulting Actuaries,
Society of Actuaries, and the SOA’s Employee Benefits Spring Meeting. She is
a member of the American Academy of Actuaries’ Pension Committee and the
Pension Section Council of the Society of Actuaries, where she serves as the
chairperson of the Pension Section’s Continuing Education Committee. Ellen
is also a member of the planning committee for the EB Spring Meeting and a
member of the Board of Directors of the ASPPA Benefits Council of the
Delaware Valley.
Before joining Savitz in 2009, Ellen was a vice president for a national
actuarial consulting firm where she served as a member of the chief
actuary’s thought leadership and technical resource group as well as a lead
consultant and valuation actuary for a wide variety of clients.
Tonya B. Manning, FSA, MAAA, FCA, EA
is a retirement actuary and consultant based in Winston-Salem, North
Carolina. Her professional expertise is the modeling, analysis and design of
postretirement employee benefits (pensions, health and life insurance).
Ms. Manning has over 20 years of consulting experience in the areas of plan
design, governance, compliance and pension risk management for private and
public sector employer and employee groups. In addition, she has experience
in assisting other actuaries with quality assurance and compliance with
actuarial professional standards.
Ms. Manning is active in several professional organizations. She is a member
of the Board of Directors for the Society of Actuaries, currently serving as
Vice President. Prior to that, she was chair of the Society’s Pension
Section Council. She is currently a member of the Pension Council and the
Volunteer Resource Committee for the American Academy of Actuaries and the
Pension Committee for the Actuarial Standards Board. In addition, she is a
member of the planning committee for the Enrolled Actuaries Meeting.
A frequent speaker, Ms. Manning has made many presentations regarding
pension law at conferences and seminars to both peers and plan sponsors.
Ms. Manning is a Fellow of the Society of Actuaries, an Enrolled Actuary
under ERISA, and a Member of the American Academy of Actuaries. She
graduated from the University of North Carolina at Chapel Hill with a
Bachelor of Science degree in Mathematics.
Maria M. Sarli, FCA, FSA, MAAA, EA
is a consultant in Towers Watson's Atlanta office and a member of Towers
Watson’s actuarial leadership team.
Maria serves as Towers Watson’s resource actuary. In this role, she is a
national resource for Towers Watson consultants, providing consulting and
technical review of client projects, analyzing laws and regulations in
coordination with research lawyers, developing research materials,
delivering training on a variety of actuarial and regulatory issues, and
helping develop and implement standards, practices and systems for Towers
Watson’s Retirement line of business.
With over 25 years of consulting experience, she has provided pension, DC,
postretirement medical, executive benefits and other related benefit
consulting and administration services to a wide range of public companies
and professional service organizations, and she has deep expertise in
benefit design, compliance, valuation, accounting and administration. She is
a frequent speaker at meetings of professional organizations and a member of
various professional committees which work with the IRS, PBGC and DOL. She
is currently on the Gray/Green/Blue Book Committee, EA Meeting Planning
Committee and EA Exam Advisory Committee.
Prior to joining Towers Watson, Maria was a principal with a global HR
outsourcing and consulting firm.
Maria holds a B.A. in mathematics from Rutgers University and is a fellow of
the Society of Actuaries and the Conference of Consulting Actuaries, a
member of the American Academy of Actuaries, and an enrolled actuary.
Carol Zimmerman has been
working in Employee Plans and Ruling Agreements with the Internal Revenue
Service for approximately 5 years, following 25 years of pension consulting
with national firms. In her current position, she is involved in a number of
activities including reviewing ruling requests, participating in several
regulation projects, and assisting practitioners and IRS personnel with
technical questions.
Carol currently serves as the Chair of the Joint Board for the Enrollment of
Actuaries. She is a Fellow of the Society of Actuaries, an Enrolled Actuary,
and a Member of the American Academy of Actuaries. She has also been active
in the actuarial profession, serving on the Academy of Actuaries’ Pension
Committee and speaking frequently at actuarial meetings.
International
Issues Subject
October 13, 2010
12:30 PM – 1:45 PM EDT
Credit: CPD 1.5 (EA TBA)
Register Now
How Have the
New ASOPs Changed Your Practice?
November 10, 2010
12:30 PM – 1:45 PM EST
Credit: CPD/EA Core 1.5
Register Now
Presenter:
S. Aquil Ahmed - Consulting Actuary
Rather than walking through the requirements of the Actuarial
Standards of Practice (ASOPs) such as 4, 27, 35, 44, etc.; the speakers at
this session show how actuarial practice has evolved in response to the
ASOPs.
Accounting Hot
Topics (Employee Benefit)
December 1, 2010
12:30 PM – 1:45 PM EST
Credit: CPD 1.5 (EA TBA)
Register Now
Qualification
Standards and “New” JBEA Regs
December 15, 2010
12:30 PM – 1:45 PM EST
Credit: CPD/EA Core 1.5
Register Now
Moderator:
Rob Austin - Hewitt Associates
Presenters:
Jay A. Yager - Hewitt Associates
Patrick McDonough - Joint Board for the Enrollment of Actuaries
A refresher/practicum on the Qualification Standards and a
discussion of the JBEA regulations to be effective in January 2011.
Previous 2010
Audiocasts:
Public
Plan Issues - Update on GASB Project
February 10, 2010
12:30 PM – 1:45 PM EST
Credit: CPD/EA Noncore 1.5
Moderator:
William B. (Flick) Fornia, FSA, FCA, MAAA, EA - Aon Consulting
Presenters:
Paul Angelo, FSA, FCA, MAAA, EA - The Segal Company
James J. Rizzo, ASA, FCA, MAAA, EA - Gabriel, Roeder, Smith & Company
The Governmental Accounting Standards Board is in the throes
of an extensive review of their project to consider the possibility of
improvements to the existing standards of accounting and financial reporting
for postemployment benefits -- pension and OPEB -- by employers and by the
trustees, administrators, or sponsors of pension or OPEB plans. Paul and Jim
have attended many recent GASB meetings and hearings and have been principal
authors of various comments to the GASB.
Topics may include:
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Overview of GASB;
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Overview of GASB's posteemployment benefits project;
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Accounting/Reporting focus;
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Actuaries' input to the process;
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Pension Liability Recognition:
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Tentative decisions by GASB;
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Pension Expense Recognition;
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Potential Cost Methods and Assumptions; and
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Likely outcomes.
William B. (Flick) Fornia
is Senior Vice President, human resource consultant and actuary for Aon
Consulting, specializing in public sector retirement plans.
Flick has nearly 30 years of actuarial and consulting
experience, primarily in the areas of retiree pension and healthcare
benefits. He managed the Denver Retirement Practice of a major
consulting firm and has served nationally as a Senior Consultant
specializing in public pensions. He joined Aon in 2006 as the national
public pension resource for Aon, and leads their public pension plan
practice.
Flick has expertise in all retirement-related areas, including
financing, plan design, bond analysis, asset-liability studies, retiree
healthcare and legislative testimony. His career includes serving as
corporate actuary for The Boeing Company, and as consultant for numerous
multinational corporations in Brazil and Argentina.
He has performed actuarial services for statewide retirement systems in
Alaska, California, Colorado, Louisiana, Missouri, New Mexico, North
Dakota, Oklahoma, Puerto Rico, Utah, Vermont and Wyoming. Other clients
have included the US Department of State, IBM, US WEST and Ford Motor
Company.
Flick is an author and frequent speaker at organizations such as the
Pension Research Council, the National Association of State Retirement
Administrators (NASRA), the National Council on Teacher Retirement (NCTR),
the National Association of Public Pension Attorneys (NAPPA), the
Conference of Consulting Actuaries, the Western Pension and Benefits
Conference, the International Foundation of Employee Benefit Plans, The
Conference Board, the Government Finance Officers Association (GFOA),
and the Brazilian Association of Pension Plans (ABRAPP). Articles and
speeches have addressed all aspects of retirement programs including
retiree healthcare plans, and the challenges of public sector defined
contribution plans. He co-authored “A Better Bang for the Buck – The
Economic Efficiencies of Defined Benefit Plans” with the National
Institute of Retirement Security in 2008.
Flick earned a Bachelor of Arts in Mathematics at Whitman College. He is
a Fellow of the Society of Actuaries, Enrolled Actuary, Member of the
American Academy of Actuaries, and Fellow of the Conference of
Consulting Actuaries. He currently serves on the steering committee of
the Conference of Consulting Actuaries Public Pensions Subcommittee, and
is on the faculty of the Society of Actuaries Fellowship Admissions
Course.
James J. Rizzo, ASA, FCA, MAAA, EA
is a Senior Consultant and Actuary with Gabriel, Roeder, Smith & Company
--- A national firm specializing in actuarial and benefits consulting
for the public sector.
Mr. Rizzo has over 30 years of experience in virtually all aspects of
pension, health and retiree medical plans for governmental entities,
working directly with elected officials, trustees and directors at both
state and local levels.
He has a national reputation as an expert in public sector pension and
retiree medical plans. He has written articles and papers and is a
frequent speaker at national, state and local conferences.
Mr. Rizzo serves on various national committees of the American Academy
of Actuaries and the Conference of Consulting Actuaries, and has served
on three advisory committees to the Governmental Accounting Standards
Board.
He keeps one foot in the world of actuarial and advisory services to
pension and OPEB plans, and the other foot in the world of accounting
and financial reporting on such plans.
From the beginning, Mr. Rizzo has been intimately involved in the
Post-Employment Benefit project currently on GASB’s agenda, including
drafting comments, testifying, presenting at a formal Board workshop,
and numerous informal discussions with Staff.
Frozen Plans
March 10, 2010 12:30 PM – 1:45 PM EST
Credit: CPD/EA Noncore 1.5
The news is full of stories on employers that have frozen
their defined benefits plans. Actuaries and other pension professionals are
more likely than ever to come into contact with a frozen plan on a regular
basis. The presenters on this audiocast address several topics related to
frozen plans such as:
-
Planning and preparation entailed in buying annuities for
frozen plans;
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For either a FAS 88 settlement or when they terminate as
well as discussing the “buy-in” concept; and
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Where this may be appropriate for your clients;
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How to set long term and short term pension goals;
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Strategic investment policy - only taking risks that are
expected to be rewarded when considering all assets and liabilities;
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Discussion of the systematic and non-systemic risks
embedded in pension liabilities;
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Using surplus optimization to determine optimal asset
portfolios;
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How synthetics such as interest rate swaps expand the
surplus efficient frontier;
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Tactical considerations in moving toward optimal long
term strategic benchmark; and
-
Journey management - dynamically changing the asset
allocation as the funded ratio changes.
Moderator: Howard Freidin, EA, FSA, FCA, Deloitte Consulting LLP
Presenters: Thomas Toale, Assistant Vice President, U.S. Pensions, MetLife
Daniel Ransenberg, FSA, Director, BlackRock Multi-Asset Client Solutions
Thomas Toale, Assistant Vice President, U.S. Pensions, MetLife, has worked with qualified pension plans and institutional annuity
products for over 35 years. He joined MetLife in 2008 after nearly 20 years
with Aon Investment Consulting, where he was Senior Vice President
responsible for AIC's annuity placement practice. In that role he worked as
a co-fiduciary with plan sponsors and their counsel, actuaries, and
investment consultants to implement annuity arrangements for terminating
plans as well as partial (FAS 88) settlements for ongoing plans. He also
served as consultant to the independent fiduciary responsible for purchasing
termination annuities for defined benefit plans sponsored by several large
employers.
Prior to his career at AON, he was in a similar role with Mercer Investment
Consulting. Tom began his career in the Group Pension Department of New
England Life (now a unit of MetLife). Tom is a frequent speaker at industry
seminars and co-author of several articles and white papers covering a range
of topics dealing with pension risk solutions.
He received his BA Magna Cum Laude from Boston College and an MBA from
Georgia State University. He is a member of the CFA Society of Philadelphia
and the CFA Institute
Daniel Ransenberg, FSA, is a member of the BlackRock Multi-Asset
Client Solutions (BMACS).
The BlackRock Multi-Asset Client Solutions (BMACS) group, which is
responsible for developing, assembling and managing investment solutions
involving multiple strategies and asset classes. Within BMACS, Dan is part
of the Client Strategy team where he advises our strategic clients on
holistic investment solutions including asset allocation, liability driven
investment solutions, and manager structure.
Mr. Ransenberg's service with the firm dates back to 2007, including his
years with Barclays Global Investors (BGI), which merged with BlackRock in
2009. At BGI, he was a member of the Client Advisory Team responsible for
analyzing and structuring optimal portfolios of managers and asset classes
for clients. Prior to this, he dedicated six years of time consulting with
pension plans as an actuary and as an investment consultant in the United
States, England, and Germany.
Mr. Ransenberg was qualified as a Fellow of the Society of Actuaries in
2006. He earned a BA degree, with honors, in mathematical science from the
John Hopkins University in 2000, and an MS degree in financial engineering
from the University of California in 2007.
Considerations for
an Insurance Consulting Actuary to Apply the ASOPs
April 7, 2010
12:30 PM – 1:45 PM EDT
Credit: CPD 1.5
Moderator:
J.P. Neal, FSA, EA, FCA, Towers Watson
Presenters:
Gary Rose, FSA, MAAA, CLU, Lewis & Ellis, Inc.
Max J. Rudolph, FSA, CFA, CERA, MAAA, Rudolph Financial Consulting, LLC
Russel Sutter, FCAS, MAAA, Towers Watson
Insurance consulting actuaries deal with some professionalism
issues that are common to all actuaries and other issues that are related to
their work with the insurance industry. This audiocast will attempt to cover
the spectrum, with emphasis on those concerns that are unique to insurance
consulting actuaries.
The presenters will bring three different perspectives to this broad
category of consulting actuaries.
1) The life practice area has many ASOPs that apply to it, and these
practices have evolved over time as technology improves, products change,
and new tools become available. This section of the audiocast will discuss
some practical issues to implementing the standards of practice in today's
environment.
2) Professionalism issues related to ratemaking and reserving in the
property & casualty area will be discussed, and how the ASOPs come into play
in these core actuarial areas. The ASOPs that will be covered are those that
directly relate to these areas as well as others that are more general in
nature (e.g., data quality and communications).
3) Enterprise risk management is an emerging practice area within the
actuarial profession. How do the standards of practice and code of conduct
fit into work done in this type of situation? A short case study will expose
some of the issues and potential solutions to these questions.
Gary Rose, is President of Lewis & Ellis, Inc. Actuaries & Consultants in
their Kansas City office, found online at
www.LewisEllis.com. As a life
consultant, he has responded to clients' needs for over 30 years. By now he
pretty much has seen it all from pricing and projections to acquisitions and
valuations. He has provided testimony as an expert witness and learned the
differences between statutory and GAAP accounting. Gary is a Fellow of the
Society of Actuaries, Member of the American Academy of Actuaries and a
Chartered Life Underwriter.
Max J. Rudolph, is the founder of Rudolph Financial Consulting, LLC, found
online at
www.rudolphfinancialconsulting.com. He focuses on risk management tools
that help organizations make better decisions. He specializes in using
common sense and communicating risk management practices to external
stakeholders. Over 25 years of financial modeling expertise have led to best
practice strategies related to asset liability management (ALM), enterprise
risk management (ERM), liquidity, capital management and emerging risks. Max
routinely produces articles and newsletters, along with presentations,
covering risk management and investment topics. He has helped small and
mid-sized life and health insurers implement an ERM process, reviewing
current practices and suggesting ways to meet specific stakeholder needs. A
major focus with clients has been to help them communicate current practices
to stakeholders such as rating agencies. He has served the actuarial
profession through volunteering with the SOA, AAA, and CCA, including the
SOA Board of Governors and chair of the ERM Symposium. Max is a Fellow of
the Society of Actuaries, CFA charter holder, Chartered Enterprise Risk
Analyst, and Member of the American Academy of Actuaries.
Russel Sutter, is a consulting actuary at Towers Watson and a member of the
firm's professional standards committee, found online at
www.towerswatson.com. His
consulting experience has included recommendations of annual funding levels
for self-insured entities, analysis of risk financing alternatives for
hospital and medical professional liability programs, development of pricing
and underwriting strategies for personal lines property/casualty insurance
products, valuation of property/casualty insurance agencies for
acquisitions, and evaluation of required reserves for all lines of
property/casualty insurance. Russ serves on the American Academy of
Actuaries Committee on Professional Responsibility. Russ is a Fellow of the
Casualty Actuarial Society and a Member of the American Academy of
Actuaries. He received a B.S. in economics from the Wharton School of the
University of Pennsylvania.
Update on
Healthcare Reform Legislation April
21, 2010
12:30 PM – 1:45 PM EDT
Credit: CPD 1.5
Jointly sponsored by the Conference of
Consulting Actuaries and the Society of
Actuaries. Cosponsored by the American Academy of Actuaries.
Special Registration Rates for This
Audiocast
CCA/SOA/Academy Members - $165*
Non-members - $195*
Group Registration - $330*
This is the first in a series of presentations jointly
sponsored by the Society of Actuaries, and the Conference of Consulting
Actuaries, and co-sponsored by the American Academy of Actuaries on the
"new" national healthcare reform legislation. With bills passed by congress
and signed by the President, this series provides a discussion of the key
initiatives and impact on all stakeholders. Topics may include:
-
Key provisions of the legislation;
-
Impact on current employer-sponsored health plans;
-
Impact on Medicare programs including Medicare Advantage
and the prescription drug program;
-
Implications on the insurance industry; and
-
Changes to the delivery of healthcare.
Moderator:
Dale H. Yamamoto - Red Quill Consulting
Presenters: Frank
McArdle - Hewitt Associates LLC
Karl Madrecki - Blue Cross/Blue Shield Association
Dale H. Yamamoto, is the founder and President of Red
Quill Consulting, Inc. He has over 30 years of professional actuarial and
consulting experience and has been the national health actuarial resource
for two major consulting firms (Hewitt Associates and Towers Perrin). Dale
has also held positions as the corporate actuary for a Fortune 50 company
and as an actuary for two major insurance companies.
He chaired the 2000 Technical Review Panel of three actuaries
and three economists appointed by the Medicare Board of Trustees to review
the financial methods and assumptions of the Medicare program. Dale has
testified before Congress on the topic of health care and Medicare reform.
Dale was one of four senior health actuaries who reviewed the
Administration’s pricing of the Health Security Act premium estimates for
the American Academy of Actuaries. He served on the Board of Governors of
the Society of Actuaries (2000-2005) and the Board of Directors of the
Conference of Consulting Actuaries (1999-2005 and 2006-present). Dale has
also published several articles on the subject of group benefits, including
a textbook (Fundamentals of Retiree Group Benefits), and has delivered
speeches at a number of professional actuarial and industry meetings.
Dale is a Fellow of the Society of Actuaries, a Fellow of the Conference of
Consulting Actuaries, a Member of the American Academy of Actuaries, a
Member of the National Academy of Social Insurance and an Enrolled Actuary
under ERISA. He holds a B.S. degree in mathematics from the University of
Nebraska.
Frank McArdle is a Principal and manages the Washington, D.C.
Research Office of Hewitt Associates, a global human resources services
firm. Frank consults with large employers on issues and developments in
public policy and in the marketplace that directly or indirectly influence
the design, costs and administration of their benefit programs. In
particular, Frank has been intensely focused on health care reform policies
and their potential impact on employer plans and the overall market, working
actively with policymakers as needed
Prior to joining Hewitt, Frank was Director of Education and Communications
at the Employee Benefit Research Institute (EBRI). Preceding that position,
Frank was a professional staff member at the U.S. Senate, Special Committee
on Aging. Previously, he held several positions with the U.S. Social
Security Administration, among them, as a Special Assistant to the
Commissioner of Social Security.
Frank is a lead author of two recent reports on health reform
for the influential Business Roundtable, published in the latter half of
2009. He is also the lead author of eight reports for The Henry J. Kaiser
Family Foundation on trends in retiree health benefits and their
interactions with potential Medicare and other health reforms. He has had
many of his articles and papers published in Health Affairs and elsewhere
and he serves as a Hewitt resource for the media.
Frank was invited to attend the June 2008 Senate Finance Committee Health
Reform Summit, and has been an appointee to the Advisory Panel on Medicare
Education and participates on the Coordinating Committee of the Centers for
Medicare and Medicaid Services, National Medicare Education Program. He has
ongoing discussions with congressional and administration staff and has been
invited to testify before key congressional committees and the National
Bipartisan Commission on the Future of Medicare. Frank was a congressionally
appointed delegate to the 2002 National Summit on Retirement Savings and is
a member of the National Academy of Social Insurance. He has a Ph.D. from
the University of Virginia, and received his B.A. Summa cum Laude from
Fordham University. Frank was a Woodrow Wilson Fellow and a Fulbright
Scholar.
Karl Madrecki is a Senior Actuary at the Blue Cross and Blue Shield
Association. His experience has included a diversity of operating,
actuarial, marketing, and management responsibilities in the health
insurance industry. In his current role, Karl interacts with the 39
independent Blue Cross and Blue Shield Plans that collectively provide
healthcare coverage for almost 100 million members in the United States.
Karl is a graduate of the Illinois Institute of Technology,
an Associate of the Society of Actuaries, and a Member of the American
Academy of Actuaries. Karl is currently serving on the Academy Health
Practice Council, Federal Health Committee, and Regulatory Capital
Requirements/Solvency Task Force. He has previously served on the Academy
Board of Directors.
Healthcare
Reform Legislation –
Medicare Topics
May 12, 2010
12:30 PM – 1:45 PM EDT
Credit: CPD 1.5
Jointly sponsored by the Conference of
Consulting Actuaries and the Society of Actuaries. Cosponsored by the
American Academy of Actuaries.
Moderator:
Dale H. Yamamoto - Red Quill Consulting
Presenters: Paul I.
Spitalnic - Centers for Medicare and Medicaid Services
Stuart H. Alden - Towers Watson
This is the second in a series of presentations jointly
sponsored by the Society of Actuaries, and the Conference of Consulting
Actuaries, and co-sponsored by the American Academy of Actuaries on the
"new" national healthcare reform legislation. The series provides an in
depth discussion of the key initiatives and impact of the Act on all
stakeholders. This second presentation focuses on Medicare issues that may
include:
-
Key provisions of the legislation that affect the
Medicare program;
-
Discussion of provisions that will likely change Medicare
costs and utilization;
-
Changes to Medicare Advantage and likely outcomes to
health plans;
-
Impact of changes in Medicare programs on
employer-sponsored health plans; and
-
Considerations to make in current accounting-based
valuations.
Dale H. Yamamoto, is the founder and President of Red
Quill Consulting, Inc. He has over 30 years of professional actuarial and
consulting experience and has been the national health actuarial resource
for two major consulting firms (Hewitt Associates and Towers Perrin). Dale
has also held positions as the corporate actuary for a Fortune 50 company
and as an actuary for two major insurance companies.
He chaired the 2000 Technical Review Panel of three actuaries and three
economists appointed by the Medicare Board of Trustees to review the
financial methods and assumptions of the Medicare program. Dale has
testified before Congress on the topic of health care and Medicare reform.
Dale was one of four senior health actuaries who reviewed the
Administration’s pricing of the Health Security Act premium estimates for
the American Academy of Actuaries. He served on the Board of Governors of
the Society of Actuaries (2000-2005) and the Board of Directors of the
Conference of Consulting Actuaries (1999-2005 and 2006-present). Dale has
also published several articles on the subject of group benefits, including
a textbook (Fundamentals of Retiree Group Benefits), and has delivered
speeches at a number of professional actuarial and industry meetings.
Dale is a Fellow of the Society of Actuaries, a Fellow of the Conference of
Consulting Actuaries, a Member of the American Academy of Actuaries, a
Member of the National Academy of Social Insurance and an Enrolled Actuary
under ERISA. He holds a B.S. degree in mathematics from the University of
Nebraska.
Stuart H. Alden,
FSA, MAAA, FCA is a senior consultant and actuary in the
Philadelphia office of Towers Watson. He has over 25 years of
experience consulting to large employers, and he specializes in the design,
pricing, accounting and funding of health, life, and disability plans.
In addition to his client work, Stu leads a group of senior actuaries within
the Health and Group Benefits (HGB) practice of Towers Watson; this group is
responsible for actuarial hiring, training and professional development,
production of intellectual capital, technical support, adherence to
actuarial policies and guidelines, and interfacing with other organizations
on actuarial matters.
Stu is a Fellow of the Society of
Actuaries, a member of the American Academy of Actuaries, a Fellow and past
Director of the Conference of Consulting Actuaries, and past president of
the Actuaries’ Club of Philadelphia. He holds a B.A. from Middlebury
College and an M.A. from the University of Michigan.
Paul I. Spitalnic is the Director of the Parts C & D
Actuarial Group in the Office of the Actuary at the Centers for Medicare and
Medicaid Services. His group is responsible for the review and audit of Part
C (Medicare Advantage, or MA) and Part D (prescription drug) plan bid
pricing submission forms. In addition, PCDAG performs actuarial evaluations,
analyses and projections of program expenditures under current law and under
proposed modifications to these laws as well developing the Medicare
Advantage payment ratebook. He has 7 years of actuarial service with CMS
including leading the actuarial efforts for implementing the new Part D
program. Prior to joining CMS, he worked as a consulting actuary for ten
years focusing on retiree health insurance issues. He is an Associate of the
Society of Actuaries, a member of the American Academy of Actuaries and has
a B.A. in Mathematics from Binghamton University.
Healthcare
Reform Legislation – Insurance Market Reforms
May 19, 2010
12:30 PM – 1:45 PM EDT
Credit: CPD 1.5
Jointly sponsored by the Conference of
Consulting Actuaries and the Society of
Actuaries. Cosponsored by the American Academy of Actuaries.
Moderator:
Dale H. Yamamoto - Red Quill Consulting
Presenters: William R.
Lane – Heartland Actuarial Consulting, LLC
George B. Wagoner - Mercer
This is the third in a series of presentations jointly
sponsored by the Society of Actuaries, and the Conference of Consulting
Actuaries, and co-sponsored by the American Academy of Actuaries on the
"new" national healthcare reform legislation. The series provides an in
depth discussion of the key initiatives and impact of the Act on all
stakeholders. This third presentation focuses on the impact of health care
reform on health plans and on active employer plans and what health plans
should be doing now in order to best position themselves for the challenges
ahead. Specific issues may include:
Factors Potentially Increasing Costs, including:
Cost Saving Approaches, including:
-
Better management of care;
-
Increased Medicaid eligibility;
-
Reduction of benefits; and
-
Termination employer plans.
Positioning Plans for the Challenges Ahead, including:
Dale H. Yamamoto, is the founder and President of Red
Quill Consulting, Inc. He has over 30 years of professional actuarial and
consulting experience and has been the national health actuarial resource
for two major consulting firms (Hewitt Associates and Towers Perrin). Dale
has also held positions as the corporate actuary for a Fortune 50 company
and as an actuary for two major insurance companies.
He chaired the 2000 Technical Review Panel of three actuaries and three
economists appointed by the Medicare Board of Trustees to review the
financial methods and assumptions of the Medicare program. Dale has
testified before Congress on the topic of health care and Medicare reform.
Dale was one of four senior health actuaries who reviewed the
Administration’s pricing of the Health Security Act premium estimates for
the American Academy of Actuaries. He served on the Board of Governors of
the Society of Actuaries (2000-2005) and the Board of Directors of the
Conference of Consulting Actuaries (1999-2005 and 2006-present). Dale has
also published several articles on the subject of group benefits, including
a textbook (Fundamentals of Retiree Group Benefits), and has delivered
speeches at a number of professional actuarial and industry meetings.
Dale is a Fellow of the Society of Actuaries, a Fellow of the Conference of
Consulting Actuaries, a Member of the American Academy of Actuaries, a
Member of the National Academy of Social Insurance and an Enrolled Actuary
under ERISA. He holds a B.S. degree in mathematics from the University of
Nebraska.
William R. Lane, FSA (1978), MAAA (1980) founded
Heartland Actuarial Consulting, LLC in 1997 and continues to serve as its
Principal. Prior to 1997, Bill served as the chief Group Actuary for four
different companies. Bill works with the complete spectrum of medical
products in all phases of pricing, underwriting, experience analysis,
product development and market strategy.
Bill was Chair of the Health Section Council of the Society of Actuaries in
2007. He has also chaired the Continuing Education team for the SOA Health
Section and the SOA Health Research Committee for a number of years. He
served on the Health Benefit Systems Practice Advancement Committee for ten
years, and has written a number of articles on pricing medical insurance for
the Health Section newsletter.
George B. Wagoner is a Partner in the Richmond Office
and the Chief Actuary of Mercer’s National Health & Benefits practice. He
works with clients nationwide in employee benefits and human resources
strategic planning, managed care, consumer directed health care, long-term
care, disability, dental, prescription drug, vision and life coverages.
Before joining Mercer in 1985, George worked for a regional insurance
company and a major non-profit health insurance company as a chief group
actuary. George has over 30 years of experience in the group life and health
actuarial field. On both a company- and industry-wide basis, he has served
on task forces dealing with health care and group benefit issues such as
managed care, consumer directed health care, postretirement medical and
life, health care data analysis, health care strategy and health care
reform. George has authored numerous articles and is a frequent speaker
regarding a wide range of health and welfare topics.
George received his BS degree in mathematics from Davidson College. He is a
Fellow of the Society of Actuaries, a member of the American Academy of
Actuaries, and a Fellow of the Conference of Consulting Actuaries. George is
a member of the board of directors of The Health Project, which presents the
C. Everett Koop National Health Awards honoring cost-effective health
promotion and disease prevention programs.
Healthcare
Reform Legislation – Other Perspectives
June 2, 2010
12:30 PM – 1:45 PM EDT
Credit: CPD 1.5
Jointly sponsored by the Conference of
Consulting Actuaries and the Society of
Actuaries. Cosponsored by the American Academy of Actuaries.
Moderator:
Dale H. Yamamoto - Red Quill Consulting
Presenters:
Michelle L. Raleigh - Schramm•Raleigh Health Strategy
Will Fox - Milliman Inc.
Derek N.
Guyton – Mercer
This is the fourth in a series of presentations jointly
sponsored by the Society of Actuaries, and the Conference of Consulting
Actuaries, and co-sponsored by the American Academy of Actuaries on the
"new" national healthcare reform legislation. With healthcare reform
legislation passed by congress and signed by the President, this series
provides a discussion of the key initiatives and impact on all stakeholders.
The fourth presentation addresses other perspectives on healthcare reform.
Topics may include:
The impact of health care reform on states’ Medicaid and CHIP
programs related to changes:
-
Medicaid populations;
-
Benefits/cost sharing;
-
Reimbursement; and
-
Funding.
Changes in how the other markets (individual, small, large
group) are impacted by the changes in the Medicaid and CHIP markets.
The impact of reform on pre-Medicare retirees:
The provider perspective:
-
Impact on hospitals and physicians and other health care
professionals;
-
Implications of reform to the reimbursement and delivery
of care; and
-
Longer term, and indirect, impact of provider
implications.
Dale H. Yamamoto, is the founder and President of Red
Quill Consulting, Inc. He has over 30 years of professional actuarial and
consulting experience and has been the national health actuarial resource
for two major consulting firms (Hewitt Associates and Towers Perrin). Dale
has also held positions as the corporate actuary for a Fortune 50 company
and as an actuary for two major insurance companies.
He chaired the 2000 Technical Review Panel of three actuaries and three
economists appointed by the Medicare Board of Trustees to review the
financial methods and assumptions of the Medicare program. Dale has
testified before Congress on the topic of health care and Medicare reform.
Dale was one of four senior health actuaries who reviewed the
Administration’s pricing of the Health Security Act premium estimates for
the American Academy of Actuaries. He served on the Board of Governors of
the Society of Actuaries (2000-2005) and the Board of Directors of the
Conference of Consulting Actuaries (1999-2005 and 2006-present). Dale has
also published several articles on the subject of group benefits, including
a textbook (Fundamentals of Retiree Group Benefits), and has delivered
speeches at a number of professional actuarial and industry meetings.
Dale is a Fellow of the Society of Actuaries, a Fellow of the Conference of
Consulting Actuaries, a Member of the American Academy of Actuaries, a
Member of the National Academy of Social Insurance and an Enrolled Actuary
under ERISA. He holds a B.S. degree in mathematics from the University of
Nebraska.
Michelle L. Raleigh is a Managing Member and Senior
Actuary at schramm•raleigh Health Strategy (srHS), a consulting firm
established to assist publicly-sponsored health and welfare purchasers
understand, quantify, and develop strategies to manage the development,
risk, financing, implementation, and monitoring of their insurance programs.
Michelle has spent 20 years as a consulting health care actuary working with
employer groups and public programs (Medicaid, Medicaid expansion, and
Children’s Health Insurance Program (CHIP)). Over the last several years,
Michelle has concentrated in areas to reform health care by improving the
way it is delivered, monitored, and reimbursed.
Mrs. Raleigh is an Associate in the Society of Actuaries, a Member of the
American Academy of Actuaries, a Fellow in the Conference of Consulting
Actuaries, and a Member of the Uninsured Work Group of the American Academy
of Actuaries.
Mrs. Raleigh is also a published author and speaker on capitation rate
development, the uninsured/underinsured, and health care reform initiatives.
Mrs. Raleigh received her Bachelor’s degree in Business Administration with
a focus in actuarial science and risk management/insurance from the
University of Wisconsin-Madison.
Will Fox is a principal and consulting actuary with
the Seattle office of Milliman. Mr. Fox focuses on improving the provider
contracting analytics for both insurers and hospitals. Will developed the
HECSTM (Hospital Evaluation and Comparison System) so that
clients can create their own reports to benchmark their contracts on a case
mix and severity adjusted basis and benchmark the results vs. operating
costs and Medicare allowables. Will believes that insurers and hospitals can
work together to reduce the cost of healthcare. He has authored several
research reports on provider contracting and is a frequent speaker on the
subject for a variety of organizations.
In addition, Will has significant experience and proficiency in medical
underwriting, rate setting and underwriting process improvement. Will
developed the RenewalMUGs software to help health plans improve their
renewal underwriting process and has worked with many clients to automate
some or all of the underwriting process.
Mr. Fox is a Fellow in the Society of Actuaries, and a Member of the
American Academy of Actuaries, and worked for a major insurance company
prior to joining Milliman in 1992. He received his BS, with honors, in
Mathematical Sciences from Oregon State University.
Derek Guyton is a Partner in
Mercer Health & Benefits’ Chicago office. With 30 years in the health and
welfare field, his experience includes product design and development,
pricing, experience monitoring, actuarial valuations, financial statement
analysis, forecasting and expense controls.
Derek’s background includes many types
of health and welfare analyses:
-
Retiree medical: Strategy and
design, measurement of liabilities, cost analysis, accounting issues and
funding. In addition to managing and providing the strategy for several
large retiree medical projects, Derek has worked on evaluating Part D
alternatives for large employers. He currently leads Mercer’s national
Retiree Medical Steering Committee and is the coordinator of all retiree
medical consulting activities.
-
Consumerism: Development of a Mercer
high-deductible pricing model, consumerist plan design and option
pricing. Derek also has direct experience in establishing HRA and HSA
plans.
-
Long-term disability: Reserve
valuations for VEBA funding, rate analyses, vendor marketing and
self-insurance cost analysis.
-
Pricing and plan design: Renewal
analyses, health plan design strategy, underwriting and actuarial cost
analysis for medical and prescription drug plans.
-
Employee contribution forecasting
and strategy.
-
Postemployment liabilities (FAS
112): Identification of liability areas, measurement, cost analysis and
accounting issues.
Before joining Mercer, Derek was an
actuary and manager in the group pricing department of a large insurance
company, involved with experience analysis and rating procedures. Derek
graduated cum laude from Drake University with a degree in actuarial
science. He is a Fellow of the Society of Actuaries.
PPA Updates: PPA
Today, Where it's Headed and How it Relates
June 16, 2010
12:30 PM – 1:45 PM EDT
Credit: EA Core 1.5, CPD 1.5
Moderator:
Ellen L. Kleinstuber, FCA, MAAA, EA, ASA, MSPA, The Savitz
Organization
Presenter:
Eric A. Keener, MAAA, FSA, EA, Hewitt Associates LLC
Susan L. Breen-Held, EA, CPC, MAAA, Principal Financial Group
A look on where PPA is today, what we have learned and where
it appears to be headed and how it relates to how pension actuaries’ work is
changing. We’ll try to answer some “unanswered questions.”
Ellen L. Kleinstuber, FCA, MAAA, EA,
ASA, MSPA has over 15 years experience in the pension and
actuarial field. Her specific expertise includes ERISA and Internal Revenue
Code compliance for single employer plans, Pension Protection Act defined
benefit funding and administration issues, retirement plan design and
communications, and defined benefit plan terminations. She is also
experienced in defined benefit funding and accounting valuations, pension
plan administration, nondiscrimination testing and annual compliance
filings.
As a member of the ERISA compliance practice, Ellen provides research and
consulting support to the actuarial and pension administration outsourcing
practices, and assists with the development, review and maintenance of the
firm’s standard reports and compliance documents. She is also responsible
for the training and continuing education programs for the firm’s
professional staff and serves as the editor of the Savitz client newsletter,
For Your Benefit.
Ellen is a frequent speaker at the annual Enrolled Actuaries meeting, as
well as the annual meetings of the Conference of Consulting Actuaries,
Society of Actuaries, and the SOA’s Employee Benefits Spring Meeting. She is
a member of the American Academy of Actuaries’ Pension Committee and the
Pension Section Council of the Society of Actuaries, where she serves as the
chairperson of the Pension Section’s Continuing Education Committee. Ellen
is also a member of the planning committee for the EB Spring Meeting and a
member of the Board of Directors of the ASPPA Benefits Council of the
Delaware Valley.
Before joining Savitz in 2009, Ellen was a vice president for a national
actuarial consulting firm where she served as a member of the chief
actuary’s thought leadership and technical resource group as well as a lead
consultant and valuation actuary for a wide variety of clients.
Eric A. Keener, FSA, EA, MAAA
is a Principal and Consulting Actuary in Hewitt Associates' Retirement
Consulting practice. Located in Hewitt's Norwalk, Connecticut office, he
consults with clients on a broad range of issues related to the design,
financing, and administration of defined benefit, defined contribution, and
postretirement welfare plans. In addition, he is a member of Hewitt's
National Resource Actuary group, responsible for developing internal
continuing education content and serving as a technical resource for other
consultants on complex issues related to the accounting and funding of
employee benefit plans.
Eric has been a speaker at numerous professional society meetings and other
forums. He is a member of the Blue, Gray, and Green Book Committee for the
annual Enrolled Actuaries Meeting, a member of the Society of Actuaries'
Pension Section Council and Pension Section Research Committee, and a member
of the American Academy of Actuaries' Pension Accounting Committee.
Susan L. Breen-Held, EA, CPC, MAAA
is a Consulting Actuary in Principal Financial Group’s Retirement Actuarial
Consulting practice. Located in the Des Moines, Iowa office, she consults
with clients on a range of issues related to the design and funding of
defined benefit plans. As Principal’s research actuary for qualified DB plan
issues, she develops continuing education content and anchors workgroups
that develop new tools, processes and consulting communications for
Principal’s actuarial and administrative staff and clients. She is also
heavily involved in supporting Principal’s legislative efforts in
Washington, through review, modeling, and lobbying for pension proposals.
Sue has been a speaker at numerous professional society meetings and client
forums. She is also a regular contributor to Principal’s client magazine,
Benefit Edge. A member of the Enrolled Actuaries Meeting Committee, she will
serve as Vice-Chair for the 2011 meeting, and is a member of the American
Academy of Actuaries and the American Society of Pension Professionals and
Actuaries.
Illustrative
Requests for Guidance
July 14, 2010
12:30 PM – 1:45 PM EDT
Credit: EA Core 1.5, CPD 1.5
Moderator:
John W. Robinson - Capital Region BOCES
Presenters:
Robert J. Rietz - Consulting Actuary
Carol R. Sears - Actuarial Consulting Group Inc.
Did you know when actuaries need help with thorny
professional problems, they can ask an ABCD member for informal advice? In
addition to considering cases involving possible violations of the Code of
Professional Conduct, the ABCD provides guidance to actuaries who ask for
help in interpreting the Code and/or actuarial standards of practice (ASOPs).
During this 75 minute audiocast, ABCD members discuss the Request for
Guidance (“RFG”) process and respond to a series of simulated RFG’s.
John W. Robinson FSA, FCA, MAAA
is currently Chief Actuary for the Capital Region BOCES in Albany, NY. In
this capacity, he provides post-retirement medical valuations to school
districts throughout the state of New York. He started his actuarial career
with the actuarial consulting firm R. Watson & Sons in Kingston, Jamaica,
where he spent three years and earned his ASA. This was followed by 23 years
in life insurance financial reporting at Nationwide Financial in Columbus,
OH, F&G Life in Baltimore, MD, Loyal American Life in Mobile, AL and
Hartford Life in Simsbury, CT.
John regularly volunteers to grade exams for the Society of Actuaries, and
was a contributing author to the first edition of the Society’s FAP modules.
He currently serves as president of the International Association of Black
Actuaries.
He holds a B.Sc. (Special) in Mathematics from the University of the West
Indies and a M.S. in Statistics from Florida State University.
Robert J. Rietz recently
retired from being a Director in the Detroit office of Deloitte Consulting
LLP, and led the Total Rewards practice in Deloitte’s North Central region.
He was their Chief Pension Actuary from 2006 to 2009, and has over 30 years
of experience in the employee benefits consulting arena. He was the General
Director of Rewards for a large health insurance company for three years.
Mr. Rietz is a member of the Actuarial Board for Counseling and Discipline,
a former President of the Conference of Consulting Actuaries, a former Vice
President of Professionalism for the American Academy of Actuaries, and was
appointed by Governor John Engler to serve as the public representative on
the board of the Michigan Public School Employees’ Retirement system,
serving from 1995 to 2001.
Mr. Rietz was awarded the John Hanson prize in 1998 for the best paper on
employee benefits, and is an occasional contributor to Contingencies
magazine. He is a frequent speaker at annual meetings of the Conference of
Consulting Actuaries and the Enrolled Actuaries meeting on topics such as
professionalism, communications and accounting for pension and retiree
medical plans.
He is a member of the American Academy of Actuaries, a fellow of the
Conference of Consulting Actuaries, a fellow of the Society of Actuaries, a
member of the American Society of Pension Professionals & Actuaries and is
an Enrolled Actuary.
Mr. Rietz is a graduate of Michigan State University, with a Bachelor of
Science in Mathematics.
Carol R. Sears, FSPA, MAAA, FCA, CPC,
EA is a Principal of Actuarial Consulting Group, Inc., an
employee benefits consulting firm. Ms. Sears has over thirty years of
experience in the employee benefits consulting field. She is a graduate of
the University of Illinois with a degree in Actuarial Science and Finance.
Ms. Sears is a Fellow of the American Society of Pension Professionals and
Actuaries, a Fellow in the Conference of Consulting Actuaries, a member of
the American Academy of Actuaries, a Certified Pension Consultant and an
Enrolled Actuary.
Ms. Sears has previously served as the President and Vice President of the
American Society of Pension Actuaries (ASPPA), and as ASPPA’s Technical
Education Consultant. She served on the Education and Examination Committee
for 12 years, most notably as the General Chair. Ms. Sears served as a
member of the American Academy of Actuaries’ Board of Directors. She was
also a member of the Advisory Committee for The Joint Board for the
Enrollment of Actuaries of the United States Department of Labor and The
United States Department of Treasury for several years.
Ms. Sears is the current chair of the Actuarial Board for Counseling and
Discipline (ABCD). The ABCD was formed to serve the five US-based
organizations representing actuaries to consider complaints and questions
concerning possible violations of the Actuarial Codes of Professional
Conduct.
Ms. Sears is a current member of the Board of Directors of the Conference of
Consulting Actuaries (CCA). The mission of the Conference is “The Conference
– Where leading consultants collectively advance actuarial practice”. She
serves as chair of the Benefits Task Force which recently analyzed and
redesigned staff benefits programs.
Ms. Sears is a frequent local and national speaker on topics relative to
retirement plans and other employee benefit programs. She has testified
before the U.S. House of Representatives Ways and Means Committee about the
pension industry. She was a speaker at the National Women’s Small Business
Summit, chaired by six U.S. Senators, discussing pension and retirement
issues. ASPPA selected Ms. Sears as the 2005 recipient of the prestigious
Educator’s Award, in recognition of her leadership and outstanding
contributions to educating the retirement industry.
GASB Preliminary
Views - Advanced Topics
August 25, 2010
12:30 PM – 1:45 PM EDT
Credit: CPD/EA Noncore 1.5
Moderator:
William B. (Flick) Fornia, FSA, FCA, MAAA, EA - Aon Consulting
Presenters:
Paul Angelo, FSA, FCA, MAAA, EA - The Segal Company
James J. Rizzo, ASA, FCA, MAAA, EA - Gabriel, Roeder, Smith & Company
The Governmental Accounting Standards
Board's "Preliminary Views (PV)" is in a crucial stage in
their comprehensive review of pension and OPEB accounting and financial
reporting standards for public employers and systems. Since the PV
document was issued in June there has been a considerable amount of work
by the CCA's Public Plans Committee and other groups developing and evaluating
possible responses to the GASB PV. This presentation is an
advanced discussion of those alternatives, targeted toward individuals
and organizations considering responding to the PV.
Topics will include the following,
identifying the open issues and possible responses:
-
Overview of GASB's
Preliminary Views document
-
Cost of services:
funding vs. accounting
-
Pension liabilities on
the Balance Sheet
-
Measurement Issues:
projections, discount rate, cost method
-
Pension expense for
liability changes: amendments, gain/loss, assumption changes
-
Pension expense for
asset changes: smoothing and corridors
-
New rules for Cost
Sharing employers
-
Frequency and Timing
of Measurements
-
Submitting comments
and next steps.
William B. (Flick) Fornia
is Senior Vice President, human resource consultant and actuary for Aon
Consulting, specializing in public sector retirement plans.
Flick has nearly 30 years of actuarial and consulting
experience, primarily in the areas of retiree pension and healthcare
benefits. He managed the Denver Retirement Practice of a major
consulting firm and has served nationally as a Senior Consultant
specializing in public pensions. He joined Aon in 2006 as the national
public pension resource for Aon, and leads their public pension plan
practice.
Flick has expertise in all retirement-related areas, including
financing, plan design, bond analysis, asset-liability studies, retiree
healthcare and legislative testimony. His career includes serving as
corporate actuary for The Boeing Company, and as consultant for numerous
multinational corporations in Brazil and Argentina.
He has performed actuarial services for statewide retirement systems in
Alaska, California, Colorado, Louisiana, Missouri, New Mexico, North
Dakota, Oklahoma, Puerto Rico, Utah, Vermont and Wyoming. Other clients
have included the US Department of State, IBM, US WEST and Ford Motor
Company.
Flick is an author and frequent speaker at organizations such as the
Pension Research Council, the National Association of State Retirement
Administrators (NASRA), the National Council on Teacher Retirement (NCTR),
the National Association of Public Pension Attorneys (NAPPA), the
Conference of Consulting Actuaries, the Western Pension and Benefits
Conference, the International Foundation of Employee Benefit Plans, The
Conference Board, the Government Finance Officers Association (GFOA),
and the Brazilian Association of Pension Plans (ABRAPP). Articles and
speeches have addressed all aspects of retirement programs including
retiree healthcare plans, and the challenges of public sector defined
contribution plans. He co-authored “A Better Bang for the Buck – The
Economic Efficiencies of Defined Benefit Plans” with the National
Institute of Retirement Security in 2008.
Flick earned a Bachelor of Arts in Mathematics at Whitman College. He is
a Fellow of the Society of Actuaries, Enrolled Actuary, Member of the
American Academy of Actuaries, and Fellow of the Conference of
Consulting Actuaries. He currently serves on the steering committee of
the Conference of Consulting Actuaries Public Pensions Subcommittee, and
is on the faculty of the Society of Actuaries Fellowship Admissions
Course.
Paul Angelo, FSA, MAAA, FCA, EA
joined The Segal Company’s San Francisco office in 1998 as a
Vice President and Actuary. He was promoted to a Senior Vice President
in 2006.
Mr. Angelo currently serves as valuation actuary for fourteen major
California county and city retirement systems and associations, as well
as the University of California Retirement Systems. His assignments for
these systems have included DROP valuations, funding policy design and
review, pension obligation bond issues, and consulting to bargaining
parties on benefit design. Most recently Mr. Angelo has completed a
variety of studies of contribution volatility management following the
recent market turmoil.
In 2007 Mr. Angelo served as a staff consulting actuary to the
California Public Employee Post Employment Benefits Commission. Mr.
Angelo is currently a member of the GASB Postemployment Accounting and
Financial Reporting Project Task Force and of the California Actuarial
Advisory Panel.
In addition to his consulting activities, Mr. Angelo is
also active in national actuarial organizations. He is a member of the
American Academy of Actuaries Pension Committee, and has served as chair
of its Public Plans Subcommittee. He currently serves as founding chair
of the Public Plans Committee of the Conference of Consulting Actuaries.
He is the past chair of the Pension Section Council of the Society of
Actuaries and recently concluded his service on the program committee
for the annual Enrolled Actuaries Meeting in Washington, D. C.
Mr. Angelo is an active speaker on retirement topics. He has made
frequent presentations to California’s statewide retirement associations
(SACRS and CALAPRS), the National Association of Public Pension
Attorneys (NAPPA), NASRA and NCTR. Recent presentation topics include
Liability Driven Investing, asset smoothing methods, the GASB’s
Postemployment Benefits project and the ongoing debate regarding
financial economics and public sector plans. Since its inception, Mr.
Angelo has participated as faculty in the new trustees' course presented
by CALAPRS at Stanford University.
Mr. Angelo is also a frequent speaker on public pension topics and
financial economics at conferences sponsored by the at the American
Academy of Actuaries, the Conference of Consulting Actuaries and the
Society of Actuaries.
Mr. Angelo has a Bachelor of Science degree in
Mathematics from the University of Notre Dame, and an Master of Arts
degree in Mathematics from Harvard University. He also holds a Master of
Actuarial Science degree from the University of Michigan Graduate School
of Business Administration.
Mr. Angelo is a Fellow of the Society of Actuaries, a Member of the
American Academy of Actuaries, a Fellow of the Conference of Consulting
Actuaries, and an ERISA Enrolled Actuary.
James J. Rizzo, ASA, FCA, MAAA, EA
is a Senior Consultant and Actuary with Gabriel, Roeder, Smith & Company
--- A national firm specializing in actuarial and benefits consulting
for the public sector.
Mr. Rizzo has over 30 years of experience in virtually all aspects of
pension, health and retiree medical plans for governmental entities,
working directly with elected officials, trustees and directors at both
state and local levels.
He has a national reputation as an expert in public sector pension and
retiree medical plans. He has written articles and papers and is a
frequent speaker at national, state and local conferences.
Mr. Rizzo serves on various national committees of the American Academy
of Actuaries and the Conference of Consulting Actuaries, and has served
on three advisory committees to the Governmental Accounting Standards
Board.
He keeps one foot in the world of actuarial and advisory services to
pension and OPEB plans, and the other foot in the world of accounting
and financial reporting on such plans.
From the beginning, Mr. Rizzo has been intimately involved in the
Post-Employment Benefit project currently on GASB’s agenda, including
drafting comments, testifying, presenting at a formal Board workshop,
and numerous informal discussions with Staff.
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