Pension Plan De-Risking: Tips & Strategies
De-risking is an important tool for companies in managing the expense and cash volatility associated with pension plans. Many de-risking strategies are now available for companies to choose from. To determine which strategy will best serve the plan, it is important to understand the plan’s features, its current state and the company's overall ability to accept and face risk. Companies should also consider recent regulatory developments that can affect certain pension risk management approaches and the fiduciary implications of implementing these strategies.
In this LIVE Webcast, a panel of distinguished professionals and thought leaders will provide an in-depth analysis of the various pension plan de-risking strategies, its advantages and disadvantages, and the factors that companies should consider in identifying which strategy may be appropriate for a plan.
Key topics include:
- Why Companies are De-Risking
- Strategies for De-Risking Pension Obligations
- Advantages and Disadvantages of Pension De-Risking
- Legal Challenges to Pension De-Risking
- Regulatory Risk Management
- Strategic Planning for De-Risking
R. Evan Inglis, Senior Actuary
Nuveen Investments, Inc.
- Evolution of perspective on pension risk – plan size increasing, 1980’s, 1990’s bull market, new accounting & funding rules in the 2000’s
- Approaches to de-risking – investment de-risking, lump sum payments, group annuity purchases, plan termination
- Impact of de-risking – what is the financial impact of reducing pension risk?
- Slow development based on issues & barriers – low interest rates, accounting advantages
- Current status & future development
Shayan Jafrani FSA, FCIA, Director, Actuarial Services
- Pension Plan Risks
- Tackling Longevity
- Buy-out and Buy-in annuities
- Annuity Due Diligence
- De-risking through pension plan design
Rachel J. Markun, Partner
Hawkins Parnell Thackston & Young LLP
- The benefits and risks of conducting a Mock DOL Audit to Evaluate Compliance
- LaRue Developments---When Every Fiduciary Claim is a Class Action Claim
- Corporate Oversight of Fiduciary Actions
- Maintenance of adequate fiduciary liability insurance.
Who Should Attend:
- Benefits Managers
- Compensation and Benefits Consultants
- Employment Law Attorneys
- Employee Benefits Attorneys
- Retirement Plan Financial Professionals
- Retirement Plan Sponsors
- Human Resource & Benefits Personnel
Shayan Jafrani is a Director of Pension Actuarial Services at PwC in Toronto, Canada. He has over 13 years of experience and has served as actuary for several Canadian pension plan sponsors. Shayan has worked with clients to develop and implement pension de-risking solutions through a combination of investment and plan design approaches. He also supports and advises audit professionals in the areas of auditing pension plan financial statements, including the assessment of actuarial assumptions, methodologies and accounting for special events. Shayan has assisted in the development of pension plan funding and investment policies for private and public sector clients in Canada and has led due diligence assignments for private equity and corporate buyers focused on the impact of HR programs, including pension and other employee benefits.
Shayan is a Fellow of the Society of Actuaries and a Fellow of the Canadian Institute of Actuaries.
Shayan Jafrani is a Director of Pension Actuarial Services at PwC in Toronto, Canada. He has over 13 years of …
Rachel J. Markun is a Partner in the Napa and San Francisco offices of Hawkins Parnell Thackston & Young LLP. Ms. Markun advises clients regarding the corporate, tax and fiduciary issues relating to ESOPs and employee benefit plans. She has represented plan fiduciaries, employers and financial institutions in connection with legislative and regulatory initiatives relating to the Internal Revenue Code, ERISA, the federal securities laws, and the California tax laws. She has extensive tax expertise relating to tax-exempt entities including matters involving unrelated business tax issues and all aspects of retirement plan qualification issues. She represents retirement plan corporate sponsors in a variety of matters, including Internal Revenue Service audits and U.S. Department of Labor investigations. Ms. Markun has an active practice in addressing ERISA issues in litigation matters and in addressing regulatory matters involving ESOPs. She has extensive experience in substantive ERISA issues and in preparing defense strategies for ERISA cases, including privilege issues, co-fiduciary liability issue and damages issues. She counsels many ESOP companies and fiduciaries on a range of compliance, best practices and risk management issues. Ms. Markun is a frequent lecturer and author on corporate, tax and fiduciary issues relating to ESOPs and employee benefit plans.
Rachel J. Markun is a Partner in the Napa and San Francisco offices of Hawkins Parnell Thackston & Young LLP. …
Evan is a senior actuary working in the Institutional Solutions Group at Nuveen Asset Management where he advises on investment strategies for pension plans. Evan is a thought leader who has worked with a wide variety of organizations in the U.S. and around the world. He has over 30 years of experience working with employee benefit plan financial matters and is a frequent speaker and writer on a wide variety of retirement issues and ideas. He developed the award-winning “Feel Free” approach to retirement spending. Additionally, he wrote early industry papers explaining how to invest pension assets for cash balance plans, for terminating plans and using plan demographic profiles.
Prior to joining Nuveen, Evan was the chief actuary at Vanguard where he advised pension clients on liability-driven investment strategies and served as a resource for institutional clients on pension and related issues. Evan spent the first part of his career with Watson Wyatt (now Willis Towers Watson) where he served in various roles including lead actuary for the General Motors pension account, Global Director of Quality, and senior consultant in the Oslo, Norway and Stockholm, Sweden offices. Evan has served as a consultant to the World Bank advising pension regulators in Costa Rica, India, and Egypt on actuarial and investment issues.
Evan is a member of the American Academy of Actuaries Public Interest Committee and serves on the Pension Practice Council. He is chairperson for the Continuing Education Committee of the Investment Section of the Society of Actuaries (SOA). Previously, he was a member of the Board of Directors for the SOA and chaired the Pension Finance Task Force, jointly sponsored by the Society and the Academy. Evan is a Fellow of the Society of Actuaries and a CFA Charterholder.
Evan is a senior actuary working in the Institutional Solutions Group at Nuveen Asset Management where he advises on investment …
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Method of Presentation:
Experience in business or employment practice
NY Category of CLE Credit:
Areas of Professional Practice
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About Hawkins Parnell Thackston & Young LLP
Over the last half century, Hawkins Parnell Thackston & Young LLP has grown to include more than 150 lawyers in 10 offices across the country. The team represents many of America’s largest corporations, small local businesses, and individuals in complex litigation and transactions. As national leaders in their fields of expertise, their ESOP, Employee Benefits, M&A, Tax & ERISA group brings extraordinary depth in perspective when advising clients in connection with retirement plans, equity incentives, executive compensation, shareholder issues, fiduciaries, mergers and acquisitions, and employment and benefits litigation throughout the country.
About Nuveen Investments, Inc.
Nuveen, the investment manager of TIAA, brings a legacy of service to our responsibility of managing $970 billion in assets as of December 31, 2017. Nuveen operates in 34 countries across the globe, and 3,300+ professionals serve institutional and individual investors through award-winning capabilities spanning public and private asset classes.