Pension Plan De-Risking: Trends and Developments in 2018
With the continuous growth in business competition and the significance and volatility of pension plan risks, employers are looking for ways to efficiently reduce such risks and costs without creating financial burdens to the company. Employers are increasingly turning to pension de-risking strategies as a means to reduce or minimize their financial risk exposure under defined benefit pension plans.
Listen as a team of thought leaders and professionals brought together by The Knowledge Group provides the audience with an in-depth analysis of all the important issues in Pension Plan De-Risking. Speakers will also present the latest trends and developments surrounding this significant topic.
Key topics include:
- Pension Plan De-Risking: Trends, Developments, and Updates
- Managing pension obligations and dealing with funding shortfalls
- De-Risking Strategies and Practical Tips
- Minimizing Legal Risk when De-Risking
- Emerging Challenges and Opportunities
Steven M. Bull, Senior Vice President, Consulting Actuary
Stanley, Hunt, DuPree & Rhine
Underfunded Pensions – An introduction, financing alternatives and de-risking
- Pension risks and rising costs
- Reducing the funding shortfall
- Advantages of improved plan funding
- Ways to reduce financial risks to the organization
Michael S. Clark, FSA, EA, FCA, MAAA, Director & Consulting Actuary
Liability Reduction Strategies
- The drivers behind liability reduction de-risking strategies
- Annuitization of retiree benefits
- Lump sum cashout windows for vested terminated participants
- Spin-off and termination to reduce active participants
Mark D. Wincek, Partner
Kilpatrick Townsend & Stockton LLP
Taking Legal Risk Out of De-Risking Transactions
- Understanding and adapting to an extended litigation timeframe for de-risking transactions
- The important role of “settlor action” in pension annuitizations
- Prevailing fiduciary practices and the standard of fiduciary conduct
- Choosing between an independent fiduciary and an independent expert
- Other risk-minimization strategies
Who Should Attend:
- Pension Risk Managers
- Benefits Managers
- Compensation and Benefits Consultants
- Employment Law Attorneys
- Employee Benefits Attorneys
- Retirement Plan Financial Professionals
- Retirement Plan Sponsors
- Human Resource & Benefits Personnel
- Insurance Companies
Mark D. Wincek is the leader of the Employee Benefits Practice Group of Kilpatrick Townsend. His practice concentrates on qualified plans, fiduciary matters and executive compensation, and it encompasses counseling, transactions and controversies. Mr. Wincek’s experience includes key roles in a number of well-known pension de-risking annuitization transactions. Mr. Wincek is the author of the chapter on “SERPs and Excess Plans” in the BNA Books Section 409A Handbook, and his list of professional publications includes dozens of articles on compensation and benefits issues. In addition, Mr. Wincek is a former Adjunct Professor of Law at Georgetown University Law Center and a member of the Tax Section of the American Bar Association, where he served as Chairman of the Statutory Welfare Benefits Subcommittee (1986-1990). From 1976 to 1981, Mr. Wincek was on the staff of the U.S. House Ways and Means Committee, serving as Senior Subcommittee Counsel to the Ways and Means Oversight Subcommittee in 1980 and 1981. Mr. Wincek has been listed since 2005 in Chambers USA: America’s Leading Business Lawyers for Employee Benefits & Executive Compensation Law, as a “Leading Individual (Employee Benefits)” and as a member of a highly ranked Washington benefits practice. He also has been listed in The Best Lawyers in America for Employee Benefits Law since 2005, and he is ranked as a “leading expert” in the Legal 500 (Employee Benefits and Executive Compensation). He has been repeatedly listed as a Corporate Counsel “Top Lawyer” and a Washington “Super Lawyer,” and he has been named to Super Lawyer’s list of the top 100 Washington attorneys (without regard to specialty). Based on an independent survey of Fortune 500 companies, Mr. Wincek was named to BTI’s Client Service All-Star Team. Mr. Wincek was recognized by Legal Media Group in its Guides to the World's Leading Labor and Employment Lawyers.
Mark D. Wincek is the leader of the Employee Benefits Practice Group of Kilpatrick Townsend. His practice concentrates on qualified …
Michael Clark is a Director and Consulting Actuary in P-Solve’s Denver office. In his role he consults on all aspects of financial risk management for defined benefit plans as well as retiree medical plans and defined contribution plans. He also has led numerous clients through pension risk transfers as well as other complex, strategic pension projects. Michael leads P-Solve’s business in the West. Prior to joining P-Solve in 2013, Michael worked for Mercer as well as October Three.
Michael is a frequent speaker at industry and professional association conferences on the topics of pension risk management and pension plan administration and has had several articles published in major trade magazines. He currently serves on the Board of Directors for the Conference of Consulting Actuaries as well as the Western Pension & Benefits Council – Denver Chapter.
He is a Fellow of the Society of Actuaries, an Enrolled Actuary, a Fellow of the Conference of Consulting Actuaries, and a Member of the American Academy of Actuaries. Michael graduated magna cum laude from Brigham Young University with a BS in Statistics.
Michael Clark is a Director and Consulting Actuary in P-Solve’s Denver office. In his role he consults on all aspects …
Steve is a graduate of the University of Michigan Mathematics and Actuarial Science Program. Since 1983, Steve's experience with retirement benefits has included qualified and non-qualified retirement plans, along with other post-employment benefits. He has provided clients with effective solutions to manage plan costs by coordinating benefits, funding and investment polices with plan sponsor objectives. Steve is responsible for developing business by providing guidance to clients with strategic pension advice including the analysis of de-risking options. He develops solutions with our team’s innovative and creative ideas that enhance service delivery and reduce the cost of benefits administration. Steve helps clients manage employee benefit plans in a cost effective manner while coping with government legislation. He designs non-qualified retirement plans used as an executive compensation and retention tool. Steve has been invited to present actuarial, pension and retirement topics at training and continuing education meetings held by various Human Resource and Finance professional associations.
Steve is a graduate of the University of Michigan Mathematics and Actuarial Science Program. Since 1983, Steve's experience with retirement …
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Method of Presentation:
Experience in Pension Law
NASBA Field of Study:
Specialized Knowledge and Applications
NY Category of CLE Credit:
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About Kilpatrick Townsend & Stockton LLP
Kilpatrick Townsend is a leading international law firm with more than 600 attorneys across 19 offices around the world and offers the full range of corporate, intellectual property, and litigation services. Attorneys throughout the firm represent nearly 80 services areas and 30 different industries. Kilpatrick Townsend’s attorneys are fully engaged in the success of the firm’s clients. They deliver results-oriented counsel for corporations at all stages of the growth cycle, from the challenging demands of financial transactions and securities to the disciplines of intellectual property management. A close collaboration between the firm’s practice areas ensures that they are well-positioned to serve all of our clients’ needs.
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.
About Stanley, Hunt, DuPree & Rhine
For over 35 years, clients of SHDR have appreciated their creative advice and efficient plan administration. They understand your duties and responsibilities as the Plan Sponsor. Their experience enables them to offer strategic solutions for managing costs and reducing risks associated with defined benefit plans. Their benefits management outsourcing enables you to utilize SHDR as a resource to simplify benefit administration and reduce distractions. SHDR is a division of BB&T, one of the largest financial services holding companies in the U.S. with $221.2 billion in assets and market capitalization of $36.9 billion as of June 30, 2017. They are able to evaluate and offer potential solutions to deal with any retirement challenge you may face. They also have the flexibility, if desired, to package multiple retirement disciplines into a single source, customized, bundled solution to simplify duties. Their services address the needs of plan sponsors and the required duties to manage pension plans in an ever-changing regulatory and compliance environment. The Perfect Client Experience – all from one Company!