Return to Pensions & Investments


Preliminary Agenda (as of 7/23/2012)

8:00 am - 9:00 am
Registration and Networking Breakfast

9:00 am – 9:15 am
Opening Remarks

Jacob O’Shaughnessy, CFA [Conference Moderator]
Arnerich Massena

9:15 am – 9:45 am
PRESENTATION: The Evolving Role of the Public DC Plan

In today’s world, the only constant is change. Faced with rapidly changing economic and regulatory conditions, governmental employers across the U.S. are taking a comprehensive look at how to implement deferred compensation and similar programs to best help employees meet their retirement objectives.
There is a growing onus on plan sponsors to offer best-in-class programs, considering the potential consequences of not doing so, from financial penalties and reputation damage to retirees falling short of their objectives. Governmental employers are finding it more critical than ever to offer a cutting-edge deferred compensation component to their retirement benefit programs.
Speaker: Jacob O’Shaughnessy, CFA
Arnerich Massena

9:45 am – 10:25 am
WORKSHOP: Managing Risks in Your Supplemental Defined Contribution Plans

As the market stabilizes it becomes easier to forget the issues that arose during the Great Recession, and how dramatically 457(b) plans were impacted. This session reviews some of the lessons learned from the economic volatility and discusses how to address these potential issues moving forward. Topics will include structuring retirement benefits policy, assessing the risk of the DC plan and the best practices for applying a risk-managed approach to protecting your participants’ supplemental retirement savings.
Speaker: Rich Hiller
Senior Vice President

10:25 am – 10:45 am
Networking Break

10:45 am – 11:30 am
PANEL DISCUSSION: The Optimal Public Fund DC Investment Lineup

No plan has the same needs or the same participant demographic. No plan sponsor has the same investment philosophy. Yet there are often trends and broad brush similarities among the DC plans offered by public plan sponsors. What are the right building blocks for today’s fit-for-purpose DC plan? What asset classes should be offered in the core? How extensiveshould the choice be in specialty segment of the menu? With an acknowledgement of the impact of globalization on the US economy, are plan sponsors offering a range of international options? This panel discussion will provide insights into how plan sponsors are viewing today’s investment challenges on behalf of their participants.
Panelists: Bill Martin
Senior Vice President, Senior Portfolio Manager
American Century Investments

Stephen Bozeman

Gregory T. Long
Executive Director
Thrift Savings Plan

Benjamin B. Taylor
Vice President< br/> Callan Associates

11:30 am – 12:10 pm
WORKSHOP: The Fiduciary Perspective: Selecting (or Creating) a Prudent and Appropriate Target-Date Option for your Participants

In six short years, the importance of target date funds to the future of retirement savings has become manifestly clear. Many sponsors are starting to realize that the selection of a targetdate option may be the single most important fiduciary responsibility they carry. For this reason, some are exploring and implementing custom target date while others are taking afresh look at their existing options with respect to glidepath design, asset allocation,underlying managers and whether a “to” or “through” approach makes sense for their participants. This presentation will provide fiduciaries with a framework to guide them through the process of evaluating and selecting a target date offering that meets the needs of their plan and its participants.
Speaker: Seth Finkelstein, CFA
SVP, Client Portfolio Manager and Head of Investment Services
ING Investment Management

12:10 pm – 1:20 pm
Networking Luncheon

1:20 pm – 2:10 pm
PRESENTATION: Do Individuals Understand Risk?
Evidence and applications

This presentation will discuss evidence from several financial literacy surveys on individuals’ knowledge of risk and risk diversification. It will cover findings from both the United States and other countries that participated in an international comparison of financial literacy. In addition to identifying the demographic groups who lack financial literacy the most, the presentation will discuss applications and programs to promote risk literacy.
Speaker: Annamaria Lusardi
Denit Trust Distinguished Scholar in Economics and Accountancy
The George Washington University School of Business

2:10 pm - 2:50 pm
WORKSHOP: Understanding Risk in Target-Date Funds

Risk measurement and risk management are still in their infancy with respect to target-date products. This session discuss the challenges and limitations of current approaches to risk management, and offer a framework for assessing risk across the entire glidepath that accounts for an investor’s wealth levels and movement through the asset accumulation and distribution phases. Additionally, it will discuss current thinking on employing volatility as an asset class to hedge risk in target-date products, focusing on both the opportunities and challenges provided by this asset class.
Speaker: Rich Weiss
Senior Vice President, Senior Portfolio Manager
American Century Investments

2:50 pm - 3:35 pm
PANEL DISCUSSION: Engaging the Plan Participant

How can plan sponsors engage their participants more constructively? It’s a question that all plan sponsors face. This session will consider which approaches work and which have been less successful. How can plan sponsors ensure that participants understand their role in their own financial future. What communications strategies work best? Are advice products of any use? What education can realistically be delivered? How should the fact that many public DC plans are supplemental fit into the strategy? And how do you match the communication style to the plan demographic?
Panelists: Patti Balthazor Bjork
Director of Retirement Research
Aon Hewitt

Andrew Ness

Jennifer Mausolf
Marketing & Product Development Director
Municipal Employees' Retirement System of Michigan

3:35 pm – 3:55 pm
Networking Break

3:55 pm - 4:35 pm
WORKSHOP: Keeping the Commitment: Public Plans in the New World of Retirement

Today we are faced with a new world of investing – and the challenges, volatility and frustrations that the new world has wrought are here to stay, at least for the foreseeable future. Potential funding shortfalls threaten many public pension plans, forcing investment managers to rethink how they can meet their obligations. Plans throughout the US are struggling to rework the retirement equation in ways that meet their responsibilities to their members and the tax payers who support them. The higher sense of purpose remains, but there is a growing recognition that we need to rethink how to fulfill it. In short, the retirement equation has changed. The defined contribution model, once a supplement to DB plans, has matured, becoming more of a complete retirement solution. As DC plans are increasingly part of the conversation, public plans need to develop and understand DC best practices. An opportunity exists to learn from successful corporate DC plans, tailoring lessons learned to meet the unique needs and culture of public plans. This in-depth discussion will focus on best practices in DC plan design, education and investment strategies in an effort to help make DC plans a more valuable part of the benefit equation.
Speaker: Tom Skrobe
Managing Director, Head of Distribution

Stephen Bozeman

4:35 pm - 5:20 pm
PANEL DISCUSSION: The Challenge of Retirement Income

With DC plans likely to form a larger part of the retirement equation for public workers in the future, plan sponsors are considering how best to pave the way for participants to turn retirement savings into retirement income. In one way the discussion is complicated by the range of retirement plans many public employees have; DC retirement income may have to work in concert with DB payments. But in other ways it could be a simpler discussion. The fact that DC assets are far from overtaking DB assets in the public sphere means that this is a perfect moment to consider how best to incorporate income solutions into the DC offer.
Panelists: Tom Applegate, CFA
Client Portfolio Manager
ING Investment Management

Tim Walsh
Senior Managing Director, Product Management

Thomas C. Woodruff, Ph.D.
Director, Healthcare Policy & Benefit Services
Office of the Comptroller of the State of Connecticut

Kevin Cress, CFA
Senior Consultant

5:20 pm – 6:30 pm
Closing Cocktail Reception