2020 Schedule & Session Descriptions

CONFERENCE SESSION DESCRIPTIONS
LISTED TIMES ARE EASTERN DAYLIGHT SAVINGS TIME

    
FRIDAY, OCTOBER 16, 2020
 
1:00 PM – 1:50 PM (1 CPE)
 
Pension 101 – Building Your Foundation
Field of Study:  Governmental Accounting.  Level of Knowledge:  Basic.  Prerequisites: None.  Advance Preparation: None.
Kevin Smith, Crowe LLP
 
This session discusses the fundamentals of accounting for pension and other postemployment benefit systems. We will discuss the different types of plans and the financial reporting requirements for each, including the fair value measurement of investments and accounting for investment transaction costs.
 
After attending this session, you will be able to:
 

• Understand the difference between the valuation of assets on an accounting basis and the funding basis
• Properly account for investment assets and related costs
• Understand the required disclosures related to your system’s plans

 
 
Remote Manager MD
Field of Study:  Personnel/Human Resources.  Level of Knowledge:  Overview.  Prerequisites: None.  Advance Preparation: None.
Jenny Douras, AdvantEdge Training & Consulting
 
When managing a team of remote employees, how do you know if you have a healthy team?  When you don’t see your team all of the time, it can be tough to discover team issues.  However, there are many symptoms that can indicate signs of trouble.  If identified early enough, and corrected with the right management prescription, you can heal a team’s problem areas.  This session will cover some of the key symptoms you can experience with your team, and their corresponding remedies.  Learn how to mend the issues and get your team back in peak performance.
 
After attending this session, you will be able to:
 

• Understand where remote teams can break down and how to spot the issues
• Identify the best tools and techniques to address these specific issues
• Recognize how these management adjustments can improve team productivity, collaboration, and satisfaction

 

---

2:00 PM – 2:50 PM (1 CPE)
 
Actuary 101 – Why an Actuary is So Important to Your Pension Plan During These Difficult Times
Field of study: Specialized Knowledge.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Ed Koebel, Cavanaugh Macdonald Consulting, LLC
 
How does a Pension System maintain a sustainable path toward solvency during the COVID crisis?  The Plan is sure to see various swings in economic and demographic experience during the next valuation cycle.  In this session the actuary will break down their role in this pursuit, provide guidance on the valuation process and provide key terms and concepts, such as present value and unfunded accrued liability that all trustees and staff should understand.  This session will also talk about the process actuaries take when developing and recommending actuarial contribution requirements to the Board.
 
After attending this session, you will be able to:
 

• Understand basic actuarial concepts for the funding of a pension plan
• Understand what actual experience of the Plan does to its Unfunded Accrued Liability from year to year
• Develop a plan for how your pension plans can establish contribution requirements to achieve a higher funded ratio

 
 
Evil Exists, Minutes Matter
Field of Study: Personal Development.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Greg Shaffer, Shaffer Security Group
 
This presentation will offer daily safety tips and mental preparedness techniques as well as survival tactics to help you save your life when the unthinkable happens.
 
After attending this session, you will be able to:
 

• Understand how to develop a survival mindset
• Develop a practice of maintaining situational awareness
• Utilize daily safety tips

 

---

 
3:00 PM – 3:50 PM (1 CPE)
 
CAFR 101 – Introduction to Key CAFR Concepts
Field of Study: Governmental Accounting.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Kevin Smith, Crowe LLP
 
This session provides detailed guidance on the preparation of the Comprehensive Annual Financial Report (CAFR).  We will also discuss the nature and purposes of the Government Finance Officers' Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting, common reporting deficiencies, and opportunities for increased transparency and efficiencies in the preparation process.
 
After attending this session, you will be able to:

• Understand the GFOA’s reporting requirements for the CAFR
• Review and evaluate your own CAFR to identify areas for improved disclosures
• Assess your CAFR preparation process to implement more efficient and effective practices

 
 
Public Speaking:  How to Have Tough Conversations / How to Share Criticism
“Preparing Behind the Scenes”
Field of Study: Communications and Marketing.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Jan Hargrave, Jan Hargrave & Associates
 
You mention public speaking or tough conversations and people either love it or hate it.  There is no in-between.  You know what you want to say but there’s still that nagging feeling that you’ll say the wrong thing or that someone will not approve.  Why is this kind of communication so difficult? The answer lies in the manner in which our brains perceive and process communication. 
 
This seminar provides tools for a critically important activity in professional life:  selling your ideas or having tough conversations while still maintaining ongoing, important relationships.  Becoming a more authentic speaker and getting others to see your point of view requires expressing your ideas in a convincing, relationship-building manner.  Cultivating a sense of trust between individuals results in facilitating both the exchange and the acceptance of ideas more easily and favorably.
 
After attending this session, you will be able to:
 

• Determine strategic persuasion tactics that build trust
• Understand the importance of the “second conversation” (body language) to communicate with authenticity and confidence
• Identify your own personal relation-based persuasion style
• Develop tactics to become an influential, charismatic leader

 

---

 
4:00 PM – 4:50 PM (1 CPE)
 
The ABC’s of Investments
Field of Study: Finance.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Danielle Clark, Ernst & Young, LLP
Daniel Messing, Ernst & Young, LLP
 
This session will cover basic concepts and strategies for investing. We will focus on fundamentals of different types of investments, how they function, and key considerations for using various investment types. Our session will include debt, equity, derivatives (futures/forwards/swaps) as well as others.
 
After attending this session, you will be able to:
 

• Understand the various risks that affect your plan’s financial condition
• Interpret the assessment provided by your actuaries on your significant risks
• Evaluate the adequacy of your funding policy in consideration of this assessment

 
 
How to Avoid the Wrong Attention from a CIO – Best Practices for Cyber Awareness in 2020
Field of Study: Information Technology.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Scott Smeester, CIO Mastermind Group
 
You are a target. Every day, unauthorized users attempt to break into your computer systems to steal, change or destroy information; so the risks are high. Bad actors use elaborate, sophisticated and disturbing lengths to gain access. Immunity to attack does not exist. A strong posture, though, can be yours.  This session will unveil some of the common practices that can get you, the common professional, in trouble with your company’s security officer.  Scott will outline best practices to reduce your risk, and he will clarify what to do in the event you experience a breach. You can strengthen your security posture, and this session is your first step.
 
After attending this session, you will be able to:
 

• Understand the different types of threats
• Identify the best practices to avoid cyberattack
• Develop a plan on how to respond in the event of a successful attack against you

 

---

 
 MONDAY, OCTOBER 19, 2020
 
ETHICS SEMINAR (3 CPE Total)
1:00 PM – 3:45 PM
 
All the Queen's Horses
Field of Study:  Behavioral Ethics.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Dr. Kelly Richmond Pope, DePaul University
 
Great employees are “great” - that is, until they make an ethical lapse. In this interactive workshop, we will learn how even the best employee can rationalize bad decisions. Based on her work with convicted white-collar offenders and whistle-blowers, Dr. Kelly Richmond Pope will share knowledge about ethical decision-making, fraud prevention strategies and ways to encourage and promote a sound ethical culture.
 
After attending this session, you will be able to:
 

• Understand the impact of a sound ethical culture
• Identify symptoms of fraud
• Evaluate existing internal control practices

 

---

TUESDAY, OCTOBER 20, 2020
1:00 PM – 1:50 PM (0 CPE)
 
P2F2 Annual Business Meeting
P2F2 Board of Directors
 
Review of the organization’s operations and financial statements, and election of board members.
 
 
2:00 PM – 2:50 PM (1 CPE)
 
Pension Funding Optimization: Best Practices for Managing UAL
Field of Study: Specialized Knowledge.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Pete Strong, GRS
Does it feel like your retirement system is on a treadmill? Do contributions continue rising each year while the funded status hardly changes (or worsens)? Do you wish there was a better way – a more optimal way – to fund the pension plan and pay down the Unfunded Actuarial Liability (UAL)? Based on the funding policies in place for many retirement systems, the proverbial “can” may have been “kicked down the road” for some time now.
Boards may have chosen a funding policy with a goal of keeping current costs down without realizing it could cause the UAL to increase rather than decrease (even when all actuarial assumptions are met). This session will show a variety of methods that can be used to pay down what has now become the largest component of cost for most plans – the UAL.
Inherent in the discussion is the need to balance short term obligations with long term budget and benefit security objectives. What is the benefit to the sponsoring organization for paying a little more toward the UAL now? How can this be best accomplished? How can trustees modify the funding policy to more optimally balance short term obligations against long term plan sustainability?
As plan sponsors wrestle with tight budgets and the desire for plans to remain actuarially sound, this session will help them look more deeply into the value of funding, as well as the economic risks when sponsors choose to push plan costs into the future. The session will also take a look at a few case studies which illustrate how other retirement systems have taken steps to more optimally manage the UAL.
After attending this session, you will be able to:
 

• Identify options and flexibility in funding your pension plan UAL
• Understand different approaches to optimize paying down the UAL and the associated risks
• Communicate the economic value of reducing the UAL to plan sponsors

 
 
3:00 PM – 3:50 PM (1 CPE)
 
How COVID is Reshaping the Asset Servicing / Custody Environment
Field of Study: Management Services.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Dan Smith, BNY Mellon
 
This session will discuss how the securities services industry has been dealing with the impact of the COVID-19 pandemic. We’ll look at how market participants have been adjusting their critical functions to the new environment, including operations, technology, and client relationships.
 
After attending this session, you will be able to:
 

• Describe changes that are occurring in the Asset Servicing / Custody industry
• Identify the causes of changes in the Asset Servicing / Custody Environment
• Understand how the Asset Servicing / Custody Environment will be different in the future

 

---

 
WEDNESDAY, OCTOBER 21, 2020
1:00 PM – 2:15 PM (1.5 CPE)
 
Nonverbal Communication Skills that Build Trust and Emotional Well-Being During Virtual Conversations and Social Distancing Conditions
Field of Study: Communications and Marketing.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Jan Hargrave, Jan Hargrave & Associates
 
It’s a scientific fact that a person’s body gestures give away their true intentions. Over ninety percent of all face-to-face or face-to-computer conversations derive from nonverbal clues; thus, the silent messages of the body can reveal even more than the spoken word in conveying true feelings and attitudes.
 
Since our body language “speaks the loudest” and is the most crucial and sound part of our personality, learning how to apply appropriate and deliberate nonverbal gestures that display confidence, exude trust and create a sense of well-being during virtual conversations is imperative. Social distancing conditions intensify uncertainty and fuel anxiety; every aspect of our role as business leaders is now magnified and complicated. We now need to reset expectations for how work gets done and learn new methods to adapt our communication style to a new context.
 
Employing convincing nonverbal behaviors and detecting the body language secrets needed to “read” others, allows for effective, efficient communication. Learn detailed information concerning the “hidden messages” of your body and the bodies of those around you
 
After attending this session, you will be able to:
 

• Communicate your ideas impressively and powerfully during virtual conversations, creating a powerful first impression
• Employ the “TRIPLE-THREAT-Communication Method” by effectively positioning using your eyes, hands and posture during Zoom calls
• Utilize the correct facial expressions of engagement, attention, curiosity, and interest
• Decipher quick ways to sharpen rapport through mirroring and matching
• Understand Abraham Maslow’s Theory of Needs and appreciate why sense of belonging is still important when people are 6-feet away or on a virtual call

 
 
2:30 PM – 3:45 PM (1.5 CPE)
 
Fee / Carried Interest Validation – Choosing the Best Approach for Your LP Organization
Field of Study: Finance.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Mariya Stefanova, Private Equity Accounting Insights
 
Are you ready for fee / carried interest validation? This session will start with discussion around what each limited partnership (LP) organization is currently doing or planning to do in terms of fee validation and their preparedness. Methods of validation used, allocation of resources for in-house fee validation, information required for the validation, data organization, material variances found between limited partner estimated and general partner provided numbers, potential course of action, etc. will all be discussed. The main purpose of this session is for attendees to think through how well prepared they are for fee validation and the steps they must take in order to reach the level of preparedness they hope to achieve.
 
After attending this session, you will be able to:
 

• Understand options available for fee / carry validation and choosing the best approach for your organization
• Evaluate the allocation of resources to your in-house validation program and the information required, including adequate data organization
• Develop processes and procedures around fee / carry validation – defining scope, setting tolerance levels for error, fund selection, set-up and calculation.

  

---

THURSDAY, OCTOBER 22, 2020
1:00 PM – 1:50 PM (1 CPE)
 
The 2020 Election and the Implications for Investors
Field of Study: Economics.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Greg Valliere, AGF
 
Veteran Washington analyst Greg Valliere will handicap the November elections, with a focus on how this might affect the financial markets. Greg will discuss the post-election environment in 2020 as a new Congress looks at a wide range of legislation, including possible tax changes, trade policy, health care, and regulatory reform.
 
After attending this session, you will be able to:
 

• Evaluate options regarding how Congress can fund the enormous budget deficit
• Determine the impact for taxes and other sectors if the Democrats control the White House, Senate and House after the election
• Understand the implications of trade disputes between the U.S. and China
• Understand the role of the Federal Reserve and the impact of lending policies on future interest rates

 
2:00 PM – 2:50 PM (1 CPE)
 
Actuarial Funding Policy – Developing and Maintaining a Sound Policy in These Turbulent Times
Field of Study: Specialized Knowledge.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Paul Angelo, Segal
Todd Tauzer, Segal
 
In addition to realistic actuarial assumptions, public pension plans need well designed actuarial funding policies to provide systematic funding of the promised benefits.  What are the essential components of an actuarial funding policy and what are model practices for each component? What are the consequences of cutting corners when the need arises? This session will review the basics and then consider whether the COVID crisis calls for a reexamination of those practices. The answers may surprise you!
 
After attending this session, you will be able to:
 

• Understand the essential components of an actuarial funding policy
• Develop funding policy components that are in line with model actuarial practices
• Understand the consequences of ineffective or inconsistent funding patterns
• Explain how the extraordinary circumstances under COVID-19 do or do not affect the maintenance of sound actuarial funding policies

 
 
3:00 PM – 4:40 PM (2 CPE)
 
Business Continuity Panel – Pandemic Discussion
Field of Study: Management Services.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Shifat Hasan, California State Teachers’ Retirement System
Judy Huntley, New York State Teachers’ Retirement System
Ben Huxen, Louisiana Municipal Police Employees’ Retirement System
Emily Kirkpatrick, Citco Institutional Services
Kimberley Petz, California State Teachers’ Retirement System
Jennifer Rosebraugh, Washington State Department of Retirement Systems
 
Join us as we have panelists from California, New York, Louisiana and Washington State discuss how business continuity planning assisted their system with the onset of Covid-19. This session will cover everything from the remote workforce, technology and personnel challenges, and the maintenance and development of the System’s culture during unprecedented times. The session will provide thoughts for consideration in your business continuity plan to address unforeseen events as we all have developed lessons learned over the past several months.
 
After attending this session, you will be able to:

• Understand how other systems in key states reacted to the environment and political orders
• Assess options and considerations for teleworking, including maintaining a culture of collaboration while working remotely
• Identify best practices implemented by other pension plans that can be applied to your system’s business continuity plans

 

---

FRIDAY, OCTOBER 23, 2020
1:00 PM – 1:50 PM (1 CPE)
 
Measuring Pension Risk:  It’s Not Just for the Actuary
Field of Study: Specialized Knowledge.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
David Kausch, GRS
 
The Actuarial Standards Board (ASB) has adopted an Actuarial Standard of Practice (ASOP No. 51) for pension valuations that provides guidance to actuaries on the measurement of risk associated with pension obligations and actuarially determined contributions. The ASOP requires that actuaries provide an assessment of the significant risks associated with the measures. While the ASOP impacts the work of the actuary, it is important that retirement system trustees and sponsors gain a good understanding of these risks and how they can affect various funding policy decisions. During this session, the presenter will explain the significant risks that may affect the plan’s financial condition and discuss the methods to be used to measure these risks.
 
After attending this session, you will be able to:
 

• Understand the various risks that affect your plan’s financial condition
• Interpret the assessment provided by your actuaries on your significant risks
• Evaluate the adequacy of your funding policy in consideration of this assessment

 
 
2:00 PM – 2:50 PM (1 CPE)
 
Technology and Operations Post-COVID-19: Are Pension Systems Ready for the New Normal?
Field of Study: Business Management and Organization.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Eric Bernstein, Broadridge Financial Solutions, Inc.
 
Join Eric Bernstein and a guest panel on the technology and operational changes for pension systems as the COVID-19 crisis evolves. As firms have coped with a series of issues resulting from the pandemic - working from home, virtual customer service, etc. - along with industry pressures, pension systems, treasuries and other fiduciaries need innovative technology and operational solutions.
 
After attending this session, you will be able to:
 

• Identify technology and operational changes that are occurring in pension systems
• Understand possible solutions to new challenges in public pension plans
• Evaluate what other pension plans have been doing to cope with the pandemic

 
 
3:00 PM – 3:50 PM (1 CPE)
 
Exploring the Best Online Resources
Field of Study: Specialized Knowledge.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Dave DeJonge, Retired Arizona Public Safety Personnel Retirement System
Tim Rekow, Minnesota State Retirement System
 
Join Tim and Dave as we explore some fantastic online resources and discover how to find answers to the questions that arise in your day-to-day work.  We’ll also explore tools available to all P2F2 members on the P2F2 website and member forum.
 
After attending this session, you will be able to:

• Identify great online resources you can add as tools to your toolbox
• Use the P2F2 member forum to find answers to difficult questions
• Reduce the amount of time you spend surfing the Internet for answers

 

---

 
MONDAY, OCTOBER 26, 2020
1:00 PM – 1:50 PM (1 CPE)
 
What’s Going on at the GASB?
Field of Study: Governmental Accounting.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Michelle Czerkawski, Governmental Accounting Standards Board
 
This session will focus on activities of the GASB over the past twelve months, including the recent statement related to fiduciary activities and deferred compensation plans, as well as major GASB projects and research activities.
 
After attending this session, you will be able to:
 

• Understand the key aspects of GASB’s new standards, current projects, and other activities
• Define the potential effect of these standards and projects on your system
• Identify potential implementation concerns for your system

 
 
2:00 PM – 3:40 PM (2 CPE)
 
Understanding the Current Economic Environment
Field of Study: Economics.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Ryan James Boyle, Northern Trust
Michael Feroli, J.P. Morgan
Jeff Korzenik, Fifth Third Bank
Alicia Levine, BNY Mellon
Marija Veitmane, State Street
 
Trends in our economy at the national and regional levels will be discussed, giving focus to economic indicators such as employment, inflation, interest rates, and wages. Through this discussion participants will better understand how the economy has weathered an unprecedented shock in 2020 and what risks remain ahead.
 
After attending this session, you will be able to:
 

• Recognize the current trends in our economy at multiple levels
• Understand the economic outlook in light of the possible paths of the COVID-19 pandemic
• Understand how the 2020 election may redirect the progress of the economic recovery

 

---

 
TUESDAY, OCTOBER 27, 2020
1:00 PM – 1:50 PM (1 CPE)
 
Federal Update
Field of Study: Specialized Knowledge.  Level of Knowledge: Update.  Prerequisites: None.  Advance Preparation: None.
Leigh Snell, National Council on Teacher Retirement
 
Federal interest in public pension issues continues.  Learn about pending federal legislation and the potential impact on governmental plans, as well as other challenges ahead.
 
After attending this session, you will be able to:
 

• Understand the current Federal legislative challenges confronting the public pension community
• Identify significant Federal regulatory matters of concern to state and local retirement plans, their participants, and their sponsors
• Understand public pension plan opponents’ latest activities, their impact on the retirement security of government employees, and what NCTR and other government groups are doing about the situation

 
 
2:00 PM – 2:50 PM (1 CPE)
 
The Power of Projections
Field of Study: Specialized Knowledge.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Joseph Newton, GRS.
 
In this session you will hear about challenges, trends and future directions for public pension funds, actuarial principles, corporate governance, and benefit security. Stress testing is a simulation technique used on asset and liability portfolios to determine the impact of certain economic scenarios.  However, stress testing is not just about forecasting bad outcomes. Sometimes risk can indeed have an adverse cost, but sometimes it can also create opportunity. That is why multiple scenarios and stochastic modeling, typically referred to as scenario testing or sensitivity analysis, should be geared towards the actual decisions that can be made to appropriately and reasonably manage risk and optimize policies. 
 
This session will exhibit how these various techniques are utilized to work through actual examples of successful decisions made by public pension funds, and provides a framework of how other public pension funds could use similar strategies.
 
After attending this session, you will be able to:
 

• Understand how various techniques are utilized to achieve successful decisions  
• Identify a framework for the use of similar strategies on your pension funds
• Develop strategies to manage risk for your pension funds

 
 
3:00 PM – 3:50 PM (1 CPE)
 
Exploring Opportunities in Retiree Health Care
Field of Study: Personnel/Human Resources.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
John Barkett, Willis Towers Watson
Trevis Parson, Willis Towers Watson
 
During this session, we’ll cover a wide range of opportunities to deliver health care to retired employees. We’ll discuss the potential financial implications of each and identify how to effectively evaluate the ability of each approach to meet the sponsor’s objectives for the plan.  Opportunities will include group and individual approaches for both the Medicare-eligible and non-Medicare eligible populations. The discussion will also provide an overview of the current landscape, which differs between the private and public sectors, and thoughts about how the landscape might change in the future.  
 
After attending this session, you will be able to:
 

• Understand the health care options available for different retiree populations
• Identify what options may or may not be applicable to your system
• Understand key differences between the private and public sector landscapes and what the future may hold

---

WEDNESDAY, OCTOBER 28, 2020
1:00 PM – 1:50 PM (1 CPE)
 
Tax Update - Proper Vendor Reporting and the Voluntary Compliance Program
Field of Study: Taxes.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
James Driver, United States Department of Treasury
 
This will be a two-part training session. One will deal with proper vendor reporting and the responsibilities of the paying entity and how to avoid pitfalls in the reporting.  The second portion will be the Voluntary Compliance Program available to plans who discover errors.
 
After attending this session, you will be able to:
 

• Understand current federal tax compliance and reporting issues facing governmental plans
• Understand the basics of IRS voluntary correction and audit processes
• Identify significant tax issues pertinent to public pension plans

 
2:00 PM – 2:50 PM (1 CPE)
 
Tax Transparency – Unmasking the Unknown
Field of Study: Taxes.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Lisa Parnell, Ernst & Young, LLP
 
Tax is a very broad topic. In this session, we will provide a fast-paced discussion of a wide range of topics to provide greater clarity of tax requirements and help address “don’t know what you don’t know” uncertainties. Topics will include general international tax requirements, withholding / reclaims processes, documentation requirements, U.S. tax exemptions for states, unrelated business income tax (UBIT), benefit payment withholding requirement considerations, and the roles / responsibilities of custodians. In addition, we will help answer member questions about what other plans are doing in these areas through interactive survey questions that will be shared with participants.
 
After attending this session, you will be able to:
 

• Understand the standard international tax compliance requirements related to investing in common markets, including common strategies and pitfalls
• Discuss considerations of withholding, reclaims and documentation for funds internationally
• Understand the basics of U.S. tax issues like UBIT, US state taxes, and withholding on beneficiary payments

 
3:00 PM – 3:50 PM (1 CPE)
 
From Today’s Demands to Tomorrow’s Trends – How to Address Accounting, Actuarial, Tax and Valuation Challenges
Field of Study: Management Services.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Francis Grab, Niall Kiely, Sheva Levy, EY
 
A panel discussion specific to the actuarial, accounting, valuation and tax challenges currently facing U.S. public pensions. From COVID-19 to the CARES Act, there is an even wider range of issues confronting public pensions in the U.S. This panel will provide insights into experiences, technical knowledge and trends that the panelists see as most relevant to your organizations.
 
After attending this session, you will be able to:

• Identify

 LLP current topics and trends that should be considered by you and your teams

• Identify areas of emerging risks as we look into the uncertain future
• Identify actuarial, accounting, valuation and tax questions for your service providers

 

---

  
THURSDAY, OCTOBER 29, 2020
 1:00 PM – 1:50 PM (1 CPE)
 
Automating Your Reporting Process With Cloud Technology
Field of Study: Governmental Accounting.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Michael Darby, Workiva
Jamie Black, F.H. Black & Company
 
During this session, we will discuss trends that public employee retirement systems are experiencing in going from a manual paper-based reporting process to an automated reporting process with cloud technologies.  You will receive best practices on how to leverage cloud applications from “Record to Report”, the benefits of seamless collaboration, and empowering staff at all levels to gain valuable experience and analytic skills across each stage of the reporting cycle so you can inspire staff and develop your next generation of financial leadership within your organization.  
 
After attending this session, you will be able to:
 

• Evaluate your monthly close process and reporting process for efficiencies
• Develop your staffs’ technical skills
• Understand the impact of applying technology to your close process

 
 
Best Practices for Successful Investment Vendor Management and Due Diligence
Field of Study: Finance.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
P.J. Kelly, AON Investments
Robbie Sandhu, California Public Employees’ Retirement System
 
In an environment of constant change and growing opportunities to enhance our investment programs, governmental post-employment benefit plans retain a number of vendors to deliver a wide range of investment services. These include investment services offered by custody banks, vendors who supply the investment applications and investment data used to manage daily operations, and external investment management to name a few. Successful vendor management and periodic due diligence in this area is a paramount ingredient to ensure the services provided are in alignment with the plan’s strategic objectives. This session will explore some the practices employed by plans to successfully manage vendors such as custody banks, investment application and/or data providers, and external investment managers.
 
After attending this session, you will be able to:
 

• Understand the different actions plans can take to successfully manage the ongoing relationship with their custody bank
• Identify actions your plan can take to successfully manage the ongoing relationship with investment application and/or data providers
• Understand the prevalent practices employed by plans to successfully select and periodically assess the value delivered by their external investment managers

 
Compliance, Education, and Teamwork: Our Key to Success?
Field of Study: Management Services.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Dawn Seputis, Illinois Municipal Retirement Fund
Beverly Snyder, Utah Retirement Systems
 
Knowledge is power! Learn how providing your employers with knowledge through many educational opportunities can prove valuable to your agency, the employer, and to the members that you serve. By using education as a compliance tool, employers can become part of your team ensuring that the members are getting quality service.
 
After attending this session, you will be able to:
 

• Understand how education can build bridges with your employers
• Identify how you can utilize feedback to improve your programs
• Determine how teamwork between the employer and your retirement plan can be effective for your members
• Identify education best practices that have proven successful

 

---

 
2:00 PM – 2:50 PM (1 CPE)
 
GASB 87 – Everything You Need to Know!
Field of Study: Governmental Accounting.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Mandy Merchant, CLA
 
GASB 87 fundamentally changes lease recognition, measurement, and related disclosures for both government lessees and lessors. The standard will be effective for periods beginning after December 15, 2019, so it is imperative that your organization understands the new reporting requirements and acts quickly to implement any necessary changes.  During this session, we will discuss the basics of the standard, how to prepare for implementation, review sample journal entries and discuss financial statement presentation examples. The discussion will also include an analysis of software packages available to track your leases.
 
After attending this session, you will be able to:
 

• Understand the key aspects of the new standard
• Determine what will qualify as a lease at your organization
• Understand the required journal entries and determine if a third-party software package is needed

 
 
How to Put Your Operations at the Top of the Class
Field of Study: Management Services.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Chad Minton, State Street
 
This session will focus on continuous operational process improvements on a variety of topics (i.e., reporting, reconciliation, audit, etc.) and how to create and promote this mindset in your organization.
 
After attending this session, you will be able to:
 

• Understand how to identify risks and inefficiencies
• Identify ways to address these risks and inefficiencies
• Create a culture that fosters continued improvement

 
 
 
The SSA Death Master File: The Rapidly Changing Environment of Big Data, Death Accuracy and Data Security
Field of Study: Specialized Knowledge.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
John Bikus, PBI Research Services
 
The Social Security Administration (SSA) public Death Master File has been depleted to about 30%, resulting in massive pension over-payments. PBI has long understood the work, complexity and uncertainty associated with finding deceased members. During this session you will learn more about how to analyze data sets and the return on investment in obtaining rapid, accurate deaths. Attendees will also benefit from understanding the challenges and best practices associated with data security.
 
After attending this session, you will be able to:
 

• Understand changing data landscapes and the value of “Big Data”
• Recognize the value of accurately verifying deaths 
• Evaluate Technology and Data Security and how it applies in death / life audits

 

---

 
3:00 PM – 3:50 PM (1 CPE)
 
Top Errors / Deficiencies in Financial Statements and How to Avoid Them
Field of Study: Governmental Accounting.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Michelle Watterworth, Plante Moran
 
How is your knowledge of GAAP when it comes to external financial reporting?  Do you truly understand all the nuances? In this session, you’ll gain some insight into the common issues impacting public plan financial reporting, and better yet, gain insight as to how to avoid them!
 
After attending this session, you will be able to:
 

• Identify common issues surrounding external financial reporting
• Distinguish between appropriate and inappropriate GAAP application related to external financial reporting
• Apply the insights learned to avoid potential issues

 
 
Due Diligence for Investment Accounting Operations
Field of Study: Governmental Accounting.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Todd Rossignol, BNY Mellon
 
This session will focus on processes to be aware of when selecting a custodial banker.  Areas discussed will include general ledger integration, unitization of the pooled portfolio for defined contribution and 457 participants, currency conversions, Governmental Accounting Standards Board (GASB) standards and reporting (particularly GASB 40 and 72), software upgrades, investment accounting reporting and performance reports.  We will also discuss design considerations with a view to the future of private equity and alternative Investments. 
 
After attending this session, you will be able to:
 

• Understand investment accounting areas that will require cognizance
• Identify key considerations in plan design and general ledger integration
• Identify and define future plan accounting system designs with the custodian

 
  
Employer Reporting Roundtable
Field of Study: Management Services.  Level of Knowledge: Update.  Prerequisites: None.  Advance Preparation: None.
Chris Castle, School Employees Retirement System of Ohio
Heather Darlington, Denver Employees Retirement Plan
 
All plans have unique characteristics. These provisions often create issues as plans deal with employers. This interactive session will explore topics such as awarding service credit, communications with employers, year-end processes, allowable compensation, employer reporting, employer payment, and more!
 
After attending this session, you will be able to:
 

• Understand the unique situations with which retirement plans deal
• Understand how peers work with employers to obtain information to comply with different statutory and policy requirements.
• Develop ideas of how to manage your own unique situations

 

---

 
4:00 PM – 4:50 PM (1 CPE)
 
Investments – Beyond the Basics
Field of Study: Governmental Accounting.  Level of Knowledge: Intermediate.  Prerequisites: None.  Advance Preparation: None.
Rajan Chari, Deloitte LLP
 
The session will explore more complex matters affecting the accounting for investments and will also provide an understanding of how to interpret information provided by an underlying investment manager.
 
After attending this session, you will be able to:
 

• Evaluate the appropriateness of investment valuations
• Evaluate financial statements provided by investee funds
• Understand current issues relating to the recording of investments and any related investment income
• Understand current regulatory matters affecting investments

 
 
Essential Stress and Time Management Skills for Dealing with an Ever-Changing World
Field of Study: Personal Development.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Aaron Anderson, Author and Public Speaker
 
Because the world is changing so quickly, it’s difficult to know what will be happening when this conference begins. Will your parents or other family members need more help than they do now? Will you be back in an office or working remotely? Will your children be in school or will you have to organize their learning from home? How can you balance the ever-changing demands on your time split between life, home, work, and whatever new challenge awaits? This session will provide concrete, actionable skills for managing time and dealing with stress in an ever-changing world.
 
After attending this session, you will be able to:
 

• Identify the specific time management priorities that actually matter to YOU
• Recognize when time is being needlessly pulled away for unimportant tasks, and be able to adjust accordingly
• Identify methods to cope with unexpected stress by becoming present in any moment at any time

 

---

 
FRIDAY, OCTOBER 30, 2020
 
1:00 PM – 1:50 PM (1 CPE)
 
Building an Integrated Accounting vs Investment Book of Record System and Reporting Solution
Field of Study: Finance.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Nick Eisenlau, Citco Institutional Services
 
The term Investment Book of Record (IBOR) was coined in the late 1990s and has recently gained new life as a “must have” for institutional investors as the need for timely and transparent investment data has increased. The core function of an IBOR is to provide up to date positions and projections to the front office throughout the day. In contrast to an IBOR, an Accounting Book of Record (ABOR) provides positions at close of business or period. Given that financial reports must require accurate ABOR data, and the key issue with IBOR reporting tools is data accuracy, can institutional investors leverage off the ABOR to provide IBOR with accurate reporting?  If so, what are the challenges?
 
After attending this session, you will be able to:
 

• List the data attributes used to produce financial statements that also populate performance (IBOR) reporting  
• Understand the challenges technology and service providers have in supplying IBOR systems with accurate data
• Determine if it makes sense to consider an outsource solution to deliver accurate IBOR reporting

 
 
Custody Trends and Issues
Field of Study: Management Services.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Brian Eckert, J.P. Morgan
Marc Mallett, Northern Trust
Ryan Russell, State Street
 
This session provides a panel discussion on key aspects of the current custody environment, such as:

• Operational risk related to manager selection and investments in alternatives
• COVID-19 - what increased operational risks did we experience, what lessons did we learn, and how will it change us as a result
• The increasing rise of “FinTech” solutions – what are they and how are custodians embracing them and supporting clients
• Global market trends in the corporate governance space – how are custodians helping bring the issuers closer to investors

Join us for a lively discussion and insights of what may lie ahead for your organization.
 
After attending this session, you will be able to:
 

• Identify lessons learned from COVID-19 and what changes are ahead
• Understand what FinTech is and how it can be used to support your system
• Recognize what operational risks are inherent to alternative investments
• Understand current custodial global market trends

  
 
 
Links Between Employer Reporting and the Accounting System
Field of Study:  Management Services.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Ahni Smith, Fire & Police Pension Association of Colorado
Mark Whelan, Kentucky Teachers’ Retirement System
 
How do systems collect data from their employers and then reconcile that data with their accounting system?  This is an essential function that must work seamlessly now that everyone wants information in real time. In this session, the panelists will discuss what, when and how data is collected from employers and how the corresponding accounting transactions are entered into their accounting systems.
 
After attending this session, you will be able to:
 

• Understand the data elements that are commonly collected from employers
• Understand how the data reported by employers is interfaced into accounting systems
• Understand how the data is reviewed and reconciled to the accounting system throughout the year

 
 

---

2:00 PM – 2:50 PM (1 CPE)
 
GASB Update – Subscription-Based Information Technology (IT) Arrangements, Investment Fees, and More
Field of Study: Governmental Accounting.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
David Bean, Governmental Accounting Standards Board (GASB)
 
This session will cover the recently issued GASB Statement 96 that addresses how cloud computing arrangements should be accounted for and reported, and will provide the latest on the GASB research into investment fee accounting and financial reporting issues.  In addition, the status of post-implementation reviews for both pensions and other postemployment benefits will be addressed.
 
After attending this session, you will be able to:
 

• Identify and address important practice issues associated with implementation of the subscription-based IT arrangement standards
• Understand the issues associated with investment fees that are being explored by the GASB
• Understand GASB’s post-implementation review process

 
 
China A in the MSCI and FTSE Indexes – What It Means for You
Field of Study:  Finance.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Patrick Chu, J.P. Morgan
Min Moon, J.P. Morgan
 
Following the inclusion of China A shares into the major Global benchmarks such as MSCI and Financial Times Stock Exchange (FTSE), the domestic stock market in China is anticipated to attract more foreign investment. This session will provide an overview of investing in the China A shares market. It will address concerns in operations and trading activities, and the future roadmap of China A shares’ increased representation in the global markets.  
 
After attending this session, you will be able to:
 

• Understand the operational challenges including account set up, settlement, FX, and staffing
• Identify potential issues with trading activities including liquidity, market impact and failed trades or unexpected market closures
• Anticipate the potential increase of the China A shares in the global indices  

 
 
Timely Reporting, Payment and Delinquencies
Field of Study: Management Services.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Audrey Brown-Ryce, Illinois Municipal Retirement Fund
Mark Nannini, Illinois Municipal Retirement Fund
Katie Tucker, Teacher Retirement System of Texas
Betsy Waldofsky, Municipal Employees’ Retirement System of Michigan
 
In this session you will hear descriptions of employers’ timely reporting, receipt of payments, and how the pension systems handle their delinquency process. The presenters represent a wide range of fund sizes and customer bases. They will discuss their objectives, key goals as well as their success and missed objectives.
 
After attending this session, you will be able to:
 

• Understand some key goals from varied perspectives of employer reporting
• Understand the perspectives of receiving payments by the respective funds
• Understand lessons learned from your peers

 

---

 
3:00 PM – 3:50 PM (1 CPE)
 
CAFR Guidelines for Pensions
Field of Study: Governmental Accounting.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Brad Berls, Eide Bailly, LLP
Eric Berman, Eide Bailly, LLP
 
Join us for a discussion of the different elements of the Comprehensive Annual Financial Report (CAFR). The CAFR is an important document with a significant amount of information that describes a lot about your organization. We will discuss various items from a technical standpoint, including the Government Finance Officers Association CAFR checklist and overall content included in the CAFR.  Additional considerations will be discussed from the reader's perspective addressing items such as readability and presentation.  And finally, what will COVID-19 change in your CAFR?
 
After attending this session, you will be able to:
 

• Determine the appropriate content included in your CAFR
• Identify presentation considerations that may help with the flow of the content, condense the report, and better appeal to the reader
• Identify COVID-19 items to consider before finalizing your report

 
 
Investing Beyond Borders & Tax Recovery: How to Maximize Your Tax-Exempt Status Globally
Field of Study: Taxes.  Level of Knowledge: Basic.  Prerequisites: None.  Advance Preparation: None.
Carles Farre, KPMG LLP
Doug Shepherd, Northern Trust
Thomas Kopkash, CalPERS

Expanding global investment strategies have been utilized by public pension funds to achieve both diversification and required rates of return. Such strategies have increased the burden for investors to understand the fast-changing tax laws, rules and regulations around the globe. Continuous attention by public pension funds that invest globally is necessary to help ensure that tax liabilities are minimized and compliance requirements are satisfied.  
After attending this session, you will be able to:
 

• Understand the potential investment risk brought on by the current regulatory environment with respect to foreign withholding taxes on income
• Identify practical considerations in terms of maintaining and “arming” your global custodian with appropriate and timely documentation to maximize your tax-exempt status globally
• Identify opportunities for withholding tax refunds, reduced tax rates and compliance filings not otherwise provided through current processes or service providers
• Understand the need to be pre-emptive and anticipatory as possible in a changing global marketplace, as it pertains to foreign withholding taxes

 
 
Best Practices in Financial Reporting Compliance
Field of Study: Governmetal Accounting.  Level of Knowledge: Update.  Prerequisites: None.  Advance Preparation: None.
Cathlyn Coons, Workiva
Glenna Musselman, Iowa Public Employees’ Retirement System
Erica Worley, Ohio Public Employees Retirement System
 
How efficient is your process to prepare your Comprehensive Annual Financial Report? Do you wonder if there is a better way to prepare financial statements? How do other systems prepare their financial reports? In this session, the panelists will discuss the what, when and how they have automated their financial statement preparation process.  
 
After attending this session, you will be able to:
 

• Understand how other systems handle their financial statement process
• Improve troublesome processes through shared information and experiences
• Develop an understanding of how the financial reporting process can be improved and develop a peer network you can call upon

 

---

 
4:00 PM – 4:50 PM (1 CPE)
 
Tips from Veteran Pension CFOs
Field of Study: Management Services.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Beulah Auten, Retired - Los Angeles County Employees Retirement Association
Karl Greve, Retired - Public Employees Retirement Association of Colorado
Art Hewig, Retired – New York State Teachers’ Retirement System
Dave DeJonge, Retired - Public Safety Personnel Retirement System of Arizona
Phyllis Walker, Retired - State Universities Retirement System of Illinois
 
This session will focus on tips and advice from the careers of former finance professionals in the public pension world.  Attendees will receive advice and guidance on a broad range of topics, including financial reporting, auditing considerations, and management interactions, as well as lessons learned from implementing GASB Standards and GFOA reporting requirements, business continuity testing and preparation, mentoring and succession planning.  Tips will also include advice on networking, building connections with leaders in the industry and staff development.
 
After attending this session, you will be able to:
 

• Identify tips and coordination techniques for implementing GASB Standards
• Determine coordination opportunities between your audit functions and financial statement preparation
• Understand the dynamics of employee and management interactions
• Develop techniques for the coordination, planning and anticipation of business projects

 
 
Behavioral Finance 101: When Are Investors Likely to Make a Mistake?
Field of Study: Finance.  Level of Knowledge: Overview.  Prerequisites: None.  Advance Preparation: None.
Dr. Raife Giovinazzo, Fuller & Thaler Asset Management, Inc.
 
Behavioral finance combines psychology and finance – contending that preconceptions and cognitive errors lead investors to misinterpret events and overlook opportunities. While behavioral finance is relatively new to most investors, its basic premise is not. In fact, fundamentals of behavioral finance are as old as mankind itself.  People use shortcuts when making decisions that often work, but sometimes cause mistakes.  This session will discuss some famous experiments, and how these mistakes are likely to play out in investing.
 
After attending this session, you will be able to:
 

• Identify situations that are likely to result in over-reaction or under-reaction
• Understand and define some common cognitive biases, such as loss aversion, availability bias and anchoring
• Develop ideas on how to guard against mental mistakes