Please join us for our next Technical Lunch Forum.
Thursday, June 2, 2016 11:30 am - 1 pm
Offices of Precept Advisory Group, 130 Theory - #200, Irvine, CA 92617
$25 for Members, $40 for Non-Members
Fee includes lunch
Make your Lunch selection during registration
The Pension Risk Hot Potato
Russ Proctor, FSA, FCA, EA
Corporations are facing a dramatic increase in expenses related to maintaining their ongoing or frozen defined benefit (DB) plans. Pension Benefit Guarantee Corporation (PBGC) variable rate premiums are projected to increase almost 400% from 2013 to 2019. Volatile interest rates and equity markets result in unwanted volatility in shareholder equity on the balance sheet. This has resulted in an unprecedented increase in Pension Risk Transfer activity.
Several new risk management solutions are available that can help reduce pension volatility and related expenses. A case study will be presented explaining how one company analyzed the various solutions available and the steps it took to reduce the economic cost of the plan, de-risk the plan and better manage the plan’s funded status and liquidity needs.
This session will outline strategies to:
· Reduce DB plan PBGC premiums and other administrative expenses
· Reduce DB plan funded status volatility and its impact on the balance sheet
· Help plan participants understand and manage the risks they may have just accepted.
Russ Proctor, Director, Retirement Solutions Division, Pacific Life
Russ is responsible for consulting with companies to reduce and remove financial risk inherent in their pension plans. He also works with companies that have defined contribution plans, such as a 401(k) or 403(b) plans, to provide guaranteed lifetime income options for plan participants. Prior to joining Pacific Life, Russ was a retirement consultant with more than 24 years of experience most recently as a principal with Mercer Human Resource Consulting. Russ holds a Bachelor of Science degree in actuarial science from Drake University. He is a Fellow of the Society of Actuaries (FSA), a Fellow of the Conference of Consulting Actuaries (FCA), and an Enrolled Actuary (EA).
This Technical Lunch Forum will be of particular interest to retirement plan professionals who want to know the latest that is going on in our industry: accountants, actuaries, attorneys, benefits directors, consultants, human resources personnel, investment professionals, plan administrators, practitioners, third party administrators and trust officers.
This Technical Lunch Forum will be held in the offices of Precept Advisory Group. Check-in is open from 11:30 to 11:45 a.m. Please arrive on time, as our program will begin promptly at 11:45 a.m.
Due to the special nature of this program, we cannot accept walk-ins the day of the event.
Reservation deadline - Monday, May 30.
ASPPA—1 CE Credit
CEBS—1 CPE Credit
CFP -1.5 Hours
CPA (California) — 1.5 Hours
ERPA —1 Hour
MCLE (California) —1.5 Hours
NIPA - 1 Hour
Thank you to the Precept Advisory Group for hosting this Technical Lunch Forum:
The statements and materials presented at WP&BC Orange County Chapter events are solely the opinions of the speakers and do not represent the opinions or positions of WP&BC Orange County Chapter. In addition, WP&BC Orange County Chapter assumes no responsibility for the content or accuracy of the statements and materials presented by speakers at WP&BC Orange County Chapter events.