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ASEA Actuarial Insights

 

Join us June 10–11 (via Zoom webinar) for a snapshot of the most pressing issues of the day, to address your need for critical information ahead of Actuarial Symposium in August 2021.

Engage with seasoned professionals and industry experts through the chat and Q&A features during presentations  on hot topics in the pension field.

 


Agenda

THURSDAY, JUNE 10, 2021

 

1–1:50 p.m. ET

Welcome & Session 1: ARPA — Where are we now?

The American Rescue Plan Act of 2021 was enacted to provide economic relief to those impacted by the COVID-19 crisis. However, the Act also includes changes to IRC Section 430 rules for DB single employer minimum funding valuations. We will discuss these DB funding related changes in this session including any IRS, DOL or PBGC guidance issued before the session. Attendees will:

  • Review the changes to the funding segment rates and shortfall amortization period.

  • Discuss the effective dates and employer elections including the interplay with the AFTAP rules under IRC Section 436.

  • Review plan document and PBGC issues related to ARPA.

Karen Smith,  MSEA, President, Nova 401(k) Associates

 

1:50–2 p.m. ET

Brain Break

 

2–2:50 p.m. ET

Session 2: Over Funding Issues

With recent market returns many DB plans have become overfunded. This can create significant issues, particularly where the plan sponsor is looking to terminate the plan. This session will focus on the many issues that arise in such situations, and the tools in dealing with the excess assets. Discussion will include allocation of excess assets, use of qualified replacement plans as well as strategies around sale of the plan sponsor. Attendees will:

  • Learn how to minimized the 4980 excise tax.
  • Learn how to effectively use qualified replacement plans.
  • Learn how the properly structured sale of the plan sponsor can result in realization of much of the excess.

James E. Turpin, MSEA, President, The Turpin Consulting Group, Inc.

 

2:50–3 p.m. ET

Brain Break

 

3–3:50 p.m. ET

Session 3: DC Plans — What DB People Need to Know

Actuaries and DB administrators naturally focus on DB issues, but DC issues can have a significant impact on both DB plan itself and on how it must be operated to coordinate with the DC plan. Top-heavy, combined deduction limits, non-discrimination testing and investment options are just a few examples, along with the Secure Act changes to the 401(k) safe harbor rules. We’ll address these and other DC issues that actuaries, especially those in the smaller plan arena, need to be familiar with to ensure compliance in combined plan designs. Attendees will:

  • Gain an understanding of how DC plans impact on DB plans.
  • Review the changes to the 401(k) safe harbor rules after the Secure Act.
  • Discuss how DC issues can affect combined plan designs.

Lorraine Dorsa, MSEA, Actuary, Aegis Pension Services, Inc.
Angela Vadnais, MSEA, Enrolled Actuary, Pension Benefits Unlimited, Inc.

 

FRIDAY, JUNE 11, 2021

 

1–1:50 p.m. ET

Session 4: Adopting Plans After Tax Year-end

The SECURE Act now allows plans to be adopted up to the due date of the plan sponsors tax return for post 2019 tax years. This session will examine some of the many issues that arise due to such late adoption. Attendees will:

  • Discuss when plans may now be adopted based on tax filing status of plan sponsor.
  • Discuss the impact of the funding and deduction rules on post year end adoption.
  • Discuss the impact on current plans and document provisions.

Justin Bonestroo, MSEA, CPC, QPA, QKA, CPFA, Senior Vice President, CBIZ
Kevin J. Donovan, FSEA, President, Pinnacle Plan Design, LLC

 

1:50–2 p.m. ET

Brain Break

 

2–2:50 p.m. ET

Session 5: Plan Termination Issues and Solutions

This session will include actual practice topics such as pitfalls and gotchas during a plan termination, timing and consideration of payments, vesting of terminated participants, required minimum distributions, including RMDs in pay status, and lump sums. Suggested potential solutions and hints will be offered. Session participants will:

  • Know how to coordinate timing of benefit payments.
  • Know how to handle RMDs during a plan termination.
  • Be aware of pitfalls and gotcha and how to avoid or correct them.

Mary Ann Rocco, MSEA, Owner, Mary Ann Rocco, EA Consulting Actuary

 

2:50–3 p.m. ET

Brain Break

 

3–3:50 p.m. ET

Session 6: Getting Better Results with PBGC Premiums

With the PBGC consistently increasing the flat and variable premium rates, it is becoming expensive for companies to sponsor defined benefit plans. The methodology required for calculating premiums is resulting in more and more fully funded plans being required to pay large variable rate premiums. However, there are options available within the plan design, premium filing and valuation processes that consultants can leverage to help mitigate these expenses for their clients. This session will explain how to utilize these techniques to minimize the PBGC premiums.

  • Review the various options available for calculating PBGC premiums.
  • Learn why two plans that are similarly funded may have drastically different variable rate premiums.
  • Explore plan design techniques to potentially minimize variable rate premiums.
  • Understand the unique considerations for cash balance and traditional plans.

Charles A. Brown, MSEA, QPA, QKA, Consulting Associate Director, Wolters Kluwer Law & Business

 


Ticket Price

Member: $240

Non-member: $390

 


Continuing Education

ASEA Members

The 2021 ASEA Insights event offers 6 hours of ASPPA CE credit.

 

JBEA Credit

5 hours of JBEA Core and 1 hour of JBEA Non-Core will be available.

 

Accountants (NASBA)

ASPPA is not an approved provider through NASBA for online education. No CPE credit will be available.  

 


Recordings

The sessions will be recorded. All registrants will have access to the recordings for 30 days after the virtual live event has concluded, but CE will not be offered for listening to recorded sessions.

 

Committee

Raymond D. Berry, MSPA — Conferences Chair

Kevin Donovan, FSPA, Pinnacle Plan Design, LLC

Lorraine Dorsa, MSPA, Aegis Pension Services, Inc

Nolan S. Frank, MSPA, Tepfer Consulting Group, Ltd.

Justin Greindl, MSPA, Fidus Actuarial Solutions, LLC

Kenneth M. Vollmer, MSPA, Premier Plan Consultants

 

ASEA Management Council

Justin Bonestroo, MSPA, CPC, QPA, QKA, CPFA, CBIZ — ASEA President

Virginia C. Wentz, FSPA, CPC, The MandMarblestone Group, LLC — ASEA President-Elect

 

Confirmation

You will receive an email from ASEA with confirmation of your registration. If you did not received a confirmation within 10 business days after registering, please contact the Accounting Department. Details of how to join the virtual event will be provided to all registered attendees shortly and recordings will become available post-event for those who are not able to join live.

 

Cancellation

Submit cancellation request by June 4, 2021. A refund of the conference fee, minus a $100 processing fee, will be issued for cancellations received by that date. No refunds will be granted for requests received after June 4, 2021. Please note refunds will not be given for no-shows.

 

Substitution

Substitution of registrations is permitted prior to the conference. Only one substitution is permitted per original registrant. The individual submitting the substitution request is responsible for updating any contact information.

 

Program Content

The views and opinions expressed by speakers or others who have provided materials to and for this conference are not necessarily those of ARA, ASEA or its affiliate organizations. ARA, ASEA and its affiliate organizations assume no responsibility for, nor endorses any of the comments, recommendations or materials that are provided.

 

Questions? We're here to help!

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