New York, NY, September 26, 2015 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Michael S. Clark, Director & Consulting Actuary, P-Solve will speak at the Knowledge Group’s webcast entitled: “Pension Plan De-Risking 101: It’s Time to De-Risk Your Pension Plan Benefits LIVE Webcast.” This event is scheduled for November 6, 2015 from 3:00 PM to 5:00 PM (ET).
For further details, please visit: https://theknowledgegroup.org/event_name/pension-plan-de-risking-101-its-time-to-de-risk-your-pension-plan-benefits-live-webcast/
About Michael S. Clark
Michael Clark, FSA, FCA, EA, MAAA is a Director and Consulting Actuary in the Denver, CO office of P-Solve. He has worked with a number of clients across various industries on all aspects of their retirement programs. He is an experienced actuary and has consulted on the financial risk management of defined benefit plans as well as retiree medical plans. He has also consulted on defined contribution design issues along with nonqualified retirement and deferred compensation plans. Michael has presented at industry and professional association conferences on the topics of plan administration and pension risk management and has had several articles published in major trade magazines. Michael is a Fellow of the Society of Actuaries, an Enrolled Actuary and a Fellow of the Conference of Consulting Actuaries. Michael graduated magna cum laude from Brigham Young University with a degree in Statistics.
P-Solve is a dynamic, growing actuarial and investment consulting firm. Our core business is strategic retirement plan consulting for all types of qualified and non-qualified benefit plans. Our clients are located in the US and the UK and have included both for-profit and not-for-profit organizations. Our clients have come to trust and value our independent advice. P-Solve is owned by the UK based River and Mercantile Group. For more information, please visit our website at http://www.psolve.us
A recent paper published by the Society of Actuaries states that “Since the 2007-2008 recession, de-risking has become the most discussed topic in corporate pension risk management.”
The economic environment over the last decade along with new mortality tables and rising PBGC premiums have put into focus just how out of control pension plan costs can get. On the one hand, the equity markets have been a boon for sponsors for the last seven years, but at the same time interest rates used to value pension liabilities have decreased causing liabilities to spike. In 2014, the Society of Actuaries released updated mortality tables that highlight that pensioners are living longer. Finally, with several rounds of legislation affecting pension plan sponsors over the last five years we have seen dramatic increases in the cost of PBGC premiums. With all of these developments many plan sponsors are left wondering what they can do to manage what is seemingly unmanageable.
Risk management is the process by plan sponsors quantify, minimize, or eliminate the potential risks that the company’s pension plan poses to its organization. These risks commonly include volatility on balance sheet liabilities and income statement expenses as well as large swings in cash contribution requirements.
De-risking has evolved into two main discussion points over the last several years: risk management and risk transfer. Risk management generally starts with plan design features and then moves onto asset solutions such as traditional liability driven investment strategies or up-and-coming structured equity arrangements. Risk transfer, on the other hand, completely eliminates a plan sponsor’s pension obligation. The most common forms of risk transfer available to sponsors have come in the form of lump sum cashout windows for vested terminated participants and annuity purchases for subsets of the participant population.
In this two-hour Live webcast, a panel of distinguished professionals and thought leaders will help you understand the important aspects of this significant topic. They will provide an in-depth discussion of Pension Plan De-Risking. Speakers will discuss the possible challenges, implications as well as critical issues surrounding this topic. They will also offer best practices in ensuring compliance with applicable laws.
Key issues that will be covered in this course are:
· Pension Plan De-risking – An Overview
· Pension Plan Liabilities and Benefit Obligations
· Risk Management Techniques:
o Plan Design
o Liability Driven Investing
o Structure Equity
· Risk Transfer Opportunities:
o Lump Sum Cashout Windows
o Annuity Purchases
· Legal Challenges and Risks
About The Knowledge Group/The Knowledge Congress Live Webcast Series
The Knowledge Group was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register for an event, please visit: http://theknowledgegroup.org