If you are interested in speaking at the 2011 P&I East Coast Defined Contribution Conference please contact Connie Mullis, Director of Programming, (205) 980-0481 or firstname.lastname@example.org.
SUNDAY, October 30, 2011
3:30 p.m. - 5:00 p.m.
5:00 p.m. - 7:00 p.m.
Welcome Cocktail Reception
MONDAY, October 31, 2011
7:30 a.m. - 8:30 a.m.
Registration and Networking Breakfast with Sponsors and Exhibitors
8:30 a.m. - 8:45 a.m.
Welcome and Opening Remarks
- Christopher J. Battaglia, Vice President and Publisher, Pensions & Investments
- Marla Kreindler, Partner, Winston & Strawn LLP (Conference Co-Chair)
8:45 a.m. - 9:45 a.m.
An economic and investment outlook
From the economy to investment strategies to risk management, Neel Kashkari's opening keynote address will cover the waterfront. He'll begin with the secular outlook for the global economy and the impact of policy-making and increased financial regulation. He'll then discuss global investment opportunities and strategies that can withstand the negative impact of financial repression, hedge against higher inflation, and benefit from the heightened differentiation in global balance sheets and economic growth potentials. Finally, Mr. Kashkari will comment on the need for risk management beyond portfolio diversification, as a significant percentage of the U.S. population prepares for retirement.
- Neel Kashkari, managing director, head of global equities, PIMCO and former interim assistant secretary of the treasury for financial stability
9:45 a.m. - 10:15 a.m.
10:15 a.m. - 11:15 a.m.
General Session: Seatbelts for rollercoasters
Extreme market volatility of the past several years has both thrilled and terrified investors, causing some to take even greater risks, while others have prioritized capital preservation over long-term returns. How participants perceive and respond to market volatility can significantly impact their ability to accumulate retirement savings. Our panel will discuss strategies for helping DC participants manage volatility and achieve better long term results through a variety of techniques, including:
- Offering alternatives to stable value funds
- Utilizing strategies that dampen volatility in balanced funds
- Leveraging participant inertia to avoid chasing returns
- Targeting communications during periods of heightened market volatility
- Address market risk in target date funds
- Pamela Hess, Director of Retirement Research, Aon Hewitt
- Chip Castille, Managing Director, Head of US and Canada Defined Contribution, BlackRock
- Jeffrey D. Morrison, CFA, Institutional Portfolio Manager, MFS Investment Management
- John M. Miller, CFA, Managing Director, Head of U.S. Retirement, PIMCO
- Kelly Wapp, Treasury Analyst, Koch Industries, Inc.
11:15 a.m. - 12:15 p.m.
General Session: Same end, different means
Virtually everyone in the defined contribution agrees on the desired outcome of all of their hard work; ensuring participants have adequate retirement incomes. While the desired outcome is universal, the ways to reach that goal can, and do, vary widely. Executives from two plans will share their divergent approaches:
In one case study, plan officials are taking what they call a paternalistic approach to try and break the cycle of inertia they believe plagues some participants. They are focusing heavily on auto-everything, as well as packaging together all possible savings approaches that goes well beyond the DC plan.
In another case study, plan officials are relying on education, communication and workforce demographics to help ensure participants have the information they need to choose the right asset allocation from investment options. the executives believe are the best in class, while reducing the risk of lawsuits.
- Toni Brown, Director of US Client Consulting, Mercer
- Tamiko Hutchinson, Global Retirement Program Office Manager, Intel Corporation
- Sonja Kellen, Retirement Benefits Manager, Microsoft Corporation
12:15 p.m. - 2:00 p.m.
Luncheon and Lillywhite Awards Presentation and Keynote Address
Can DC plans achieve adequacy targets? What is the future for "retirement"?
Dallas Salisbury brings 37 years of retirement research experience to this presentation. His remarks include the latest data from the largest integrated DC and IRA databases in the nation, the 21st Retirement Confidence Survey. He'll also discuss the latest comprehensive modeling on alternative futures for "retirement," including the implications for retirement income and retirement plan contributions of deficit-driven proposals to reduce contribution limits in qualified DC plans.
- Dallas Salisbury, President and CEO, Employee Benefit Research Institute
2:00 p.m. - 2:50 p.m.
TRACK A: How best to add global exposure to your DC portfolios
Most DC plans today offer multiple U.S. equity options and at least one non-U.S. equity option. Recognizing fewer overall choices help participant decision-making, does it make sense to add a global equity option? Or, should you combine your U.S. and non-U.S. equity options into one global equity option? Does the same apply to fixed income? Should a global fixed-income option replace the standard core/core-plus option? Join the conversation.
- Lori Lucals, CFA, Defined Contribution Practice Leader, Callan Associates
- Bryan Dunnivant, Investment Director. Eli Lilly and Company.
- George Evans, Senior Vice President and Director of Equities, OppenheimerFunds.
- Thomas Idzorek, CFA, Global Chief Investment Officer, Morningstar Investment Management
- Christopher Orndorff, Senior Portfolio Manager, Western Asset Management
TRACK B: The evolution of a Defined Contribution plan
Join us for this case study of a plan sponsor that includes:
- Using the recordkeeper RFP process as an opportunity to change the dynamics of your DC plan
- Reworking the company match to encourage greater levels of participation
- Moving from mutual funds to separate accounts and commingled funds
- Changing the investment menu
- Tweaking the fee structure
- Providing a different participant experience
- Scott Faris, JD, CFA, Senior Consultant Hyas Group, LLC
- Joshua Newmister, Global Retirement Program Manager, Symantec Corporation
- Kristi Mitchem, Senior Managing Director, Global Head of Defined Contribution, State Street Global Advisors
2:50 p.m. -3:00 p.m.
3:00 p.m. - 3:50 p.m.
TRACK A: What Kind of Inflation Protection Do DC participants need, when and how?
While inflation reduces real rates of return and erodes purchasing power at any point in time, how participants perceive and react to the threat of inflation is influenced by their retirement stage: those still working and saving for retirement are less concerned with the impact of inflation than those living on fixed incomes and watching their cost of living increase as their savings dwindle, even though risk posed by inflation is the same for both groups. Our panel will explore how to incorporate investment vehicles that are intended to mitigate the risk of inflation into the plan, such as TIPS and REITs (Treasury Inflation Protected Securities and Real Estate Investment Trusts). Additionally, the panel will discuss effective communication and education initiatives to encourage appropriate usage that leads to better outcomes for participants.
- Matthew Gnabasik, Managing Director, Blue Prairie Group
- Craig Lazzara, Vice President US Equities, S&P Indices
- Michael C. Sobolik, Regional Director of North America Research, Invesco
- Margaret Walsh, Director of Benefits, OGE Energy Corp.
- Rick Wurster, CFA, CMT; Asset Allocation Portfolio Manager, Wellington Management Company, LLP
- Ed Gleason, Sr., Specialist Retirement Strategy. American Airlines, Inc.
- Tony Bohn, Vice President, Chief HR Officer, Norton Healthcare, Inc.
- Jeananne Goodhue, Vice President, Client Relationship, Diversified
- Nancy Krangle, Director of Compensation & Benefits, CROSSMARK
4:15 p.m. - 5:05 p.m.
TRACK A: How you can benefit from providers' best practices
Many service providers, like plan sponsors, are committed to implementing best practices to help their plan sponsor clients and, of course, to help them stay competitive. Panelists will discuss overall trends in their industry as well as specific strides they have made, including:
- Advances in technology and how those enhancements benefit plan sponsors;
- Specific changes in fee structures;
- Improvements in reporting, such as timeliness and clarity;
- A look at what new ideas that will help plan sponsors are under development.
- Martha L. Tejera, Principal, Tejera & Associates
- Susan Fulshaw, Managing Director, Institutional Sales and Service, TIAA-CREF
- Laurie Nordquist, Executive Vice President & Director, Institutional Retirement and Trust, Wells Fargo & Company
- Matthew D. McOsker, Vice President Technology Product Development, T. Rowe Price Retirement Plan Services, Inc.
- Deirdre Walker, Retirement Plans Manager, Weyerheauser
TRACK B: Rethinking target date funds: mix & match ? which pre-mixed portfolio is right for your DC plan?
The many forms and variations of pre-mixed portfolios include off-the-shelf and custom target date funds, risk-based funds, and model portfolios combining target dates and risk profiles. In addition to discussing the plan characteristics that favor one approach over another, our panel will explore the advantages and disadvantages of the various approaches, including:
- Fiduciary risk implications
- Sector and single-stock concentrations and tactical allocations
- Administrative approaches and costs
- Participant utilization and outcomes
- All-or-nothing choices (e.g. should a plan sponsor offer only one approach? Should a participant be required to invest all-or-nothing in the fund?)
- Jacob O'Shaughnessy, CFA, Advisor, Arnerich Massena, Inc.
- L. Wayne Adams, Director-Investments, AT&T
- Gretchen Tai, Director of Investment, Hewlett-Packard Company
- Paul Zemsky, CFA, Chief Investment Officer, Multi-Asset Strategies, ING Investment Management Co.
- Marie Swartzwelder, Vice President, Retirement Plan Investment Strategies, Prudential Retirement
5:05 p.m. - 6:30 p.m.
Networking Cocktail Reception
TUESDAY, November 1, 2011
7:30 a.m. - 8:30 a.m.
Networking Breakfast with Sponsors and Exhibitors
8:30 a.m. - 8:40 a.m.
Opening Remarks and Recap of Day One
- Stuart Odell, (Conference Co-Chair), Director, Retirement Investments, Intel Corp.
8:40 a.m. - 9:40 a.m.
Keynote Address - James M. Delaplane Jr., Principal of Government Relations, Vanguard
Defined Contribution Plan policy update: Deficits and Disclosures
Washington has begun taking steps to reduce the federal budget deficit, and more significant reforms to taxes and entitlement programs appear to be in the offing. Obama appointees at the Department of Labor are implementing an active regulatory agenda across a range of plan disclosure issues.
P&I's favorite insider will address the implications of these developments for defined contribution plans. Whether it is threats to the tax incentives for retirement savings, the effect of entitlement changes on retirement plan design, a continued focus on fees and investments (particularly target date funds), promotion of retirement income solutions or an expansion of fiduciary obligations, there will be no shortage of DC plan issues at play as we look forward to election year 2012.
9:40 a.m. - 10:40 a.m.
General Session: The Innovators
Learn about the cutting-edge changes being made by your peers, such as developing a striking new way of providing the employer match and successfully incorporating annuities into plan design through target-date funds.
Discussion topics will include:
- How to streamline complex investment lineups
- How plan design can improve employees' productivity, career path and retirement-readiness
- Developing striking new ways of providing the employer match
- Why plan officials made the changes?
- What the implementation process involved?
- How they won over their bosses and boards?
- What were the cost considerations?
- And, more.
Sneak preview of the 2012 Innovation Awards, sponsored by Pensions & Investments and Defined Contribution Institutional Investment Association (DCIIA). The innovators of the year will be recognized at next year's Pensions & Investments Defined Contribution West Coast Conference.
- Thomas J. Fontaine, Head, Defined Contribution Investments, AllianceBernstein
- Nicole Smith, Benefits Program Manager, Franklin Templeton Investments
- Marvin Tong, CFA, CAIA, Project Manager Investments, Southern California Edison
- Alex Voitovich, Executive Director Global Benefits, Marsh & McLennan Companies, Inc.
10:40 a.m. - 11:10 a.m.
11:10 a.m. - 12:10 p.m.
General Session: Defined Contribution Ghosts: Addressing fears of fiduciary and litigation risks
Some plan sponsors are responding to the increasing tide of fiduciary litigation and the constant public eye on Defined Contribution plans in the media and in Congress, by focusing on fiduciary and litigation risk avoidance. Is this an emerging trend or a step backwards?
- Does innovation create fiduciary risk or is staying with the herd the best defense?
- Does providing additional participant communications and investment education create fiduciary risk?
- Will the DOL's recent proposed changes to the definition of fiduciary under ERISA increase fiduciary risk and litigation?
- Will converting a plan to 100% passive investment strategies insulate a plan fiduciary from the risk of litigation?
- Is creating a custom strategy, such as custom target funds, the same as taking on more risk?
- Marla Kreindler, Partner, Winston & Strawn LLP
- Abigail Pancoast, Chief Counsel, Defined Contribution, Lincoln Financial Group
- Hal Bjornson, Executive Director, J.P. Morgan
- Carol A. Cypert, CRA, CRC, , Deferred Compensation Manager, San Francisco, Employees' Retirement System
- Margaret H. Raymond, Vice President, Associate General Counsel, Fidelity Investments
12:10 p.m. - 2:00 p.m. Luncheon Keynote Address
PlanSuccess TM: Practical Behavioral Finance Solutions to Improve 401(k) Plans
The relatively new field of behavioral finance has demonstrated that many of the poor decisions participants make about their 401(k) plans stem from psychological factors such as inertia, loss aversion, and myopia. the power of the PlanSuccess System lies in transforming these behavioral obstacles into behavioral opportunities to help participants make better choices. In this talk, Professer Benartzi will highlight how PlanSuccess - the new system he is developing with the Center for Behavioral Finance - can help financial advisors and plan sponsors improve 401(k) plans.
- Shlomo Benartzi, Ph D., Professor, UCLA Anderson School of Management, Chief Behavioral Economist, Allianz Global Investors Center for Behavioral Finance
2:00 p.m.-3:30 p.m.
Post-Conference Plan Sponsor Only Round Tables
The post-conference plan sponsor-only round tables are designed specifically for idea sharing and networking with your peers. These round tables have quickly become one of the most popular sessions of the conference. Plan sponsors, consultants and attorneys facilitate the open discussion.
(Open to defined contribution plan executives only)
Small/Midsize Plans (under $1 billion in assets)
- Julia Durand, Deferred Compensation Administrator, CalSTERS
- Thomas Harty, Institutional & Retirement Consultant, JMG Finanacial Group, Ltd.
- David A. Hildebrandt, Partner, Kirton & McConkie PC
- Cynda Reznicek, Director Compensation and Benefits, Zachry Holdings, Inc.
Large Plans ($1 billion or more in assets)
- Gay Lynn Bath, Deferred Compensation Manager, Oregon Savings Growth Plan
- Jennifer Flodin, Chief Operating Officer & Cofounder, Plan Sponsor Advisors
- R. Bradford Huss, Director, Tucker Huss
- Lavina Mehta, CFA, CTP, Manager of Investments, Retirement Plans Group, Bechtel Corporation
Agenda subject to change.