agenda Chicago September 30, :30 am - 8:30 am Registration and Networking Breakfast

Transcription

1 7:30 am - 8:30 am Registration and Networking Breakfast 8:30 am - 8:45 am Opening Remarks: Custom Target-Date Overview Speaker: Julie K. Stapel, J.D. [Conference Chair] Partner - Employee Benefits and Executive Compensation Practice 8:45 am - 9:25 am CASE STUDY: Plan Sponsor Insights on the Role of Mapping and Re-Enrollment in Capturing Target-Date Assets A major reason plan fiduciaries implement custom target-date portfolios is the enhanced control provided to sponsors as these default funds represent an increasing share of plan assets. An AllianceBernstein client will discuss a case study on their plan including the original decision to go custom, the consideration of active versus passive management, enhancements being considered and the governance process of working with their investment committee. As the plan s custom portfolios have been in operation for some time, we will discuss the role of mapping and re-enrollment in capturing target-date assets and share learning and advice for plans now considering the move to custom. Richard A. Davies Senior Managing Director and Co-Head of North America Institutional AllianceBernstein Cindy R. Rehmeier, CFP Manager of Defined Contribution Plans Missouri State Employees Retirement System (MOSERS) 9:25 am - 10:05 am CASE STUDY: Creating Better Retirement Outcomes Through a Customized Approach To Target Date Design Many plans are finding that custom target date affords the design flexibility to more precisely align these strategies with their own investment philosophy and participant demographics/profile. Custom is also being used as a way for plans to incorporate best practices from their DB plans into their DC plans. This client case study will discuss how plan-specific factors, such as the presence of a defined benefit plan or a participant base s labor income profile, combined with a plan s unique objectives can significantly influence the construction and management of a custom target date solution. Bas NieuweWeme Managing Director, Head of Institutional Distribution Frank van Etten, CFA Managing Director, Deputy Chief Investment Officer, Multi-Asset Strategies & Solutions Robert Palmeri, CFA Director of East Coast Consulting and Head of the Defined Contribution Solutions Group RVK

2 10:05 am - 10:45 am PANEL DISCUSSION: Apples and Oranges? What Should a Fiduciary Consider When Offering Both Target-Date Funds and Managed Accounts As participants look for investment guidance, both target-date funds and managed accounts have become popular plan options. If both are offered in the same plan, what does a plan sponsor need to think about from a fiduciary standpoint? We will explore some of the areas that plan sponsors should be aware of: Reconciling differences in methodology Comfort level with different available asset classes in each offering Understanding fees Kevin F. Berry J.D. Partner White and Williams LLP Cindy Cattin Managing Director, Investment Operations and Risk Management Exelon Holly Verdeyen, CEBS Director, Defined Contribution Investments 10:45 am - 11:10 am Morning Networking Break 11:10 am - 11:50 am CASE STUDY: Dynamic Asset Allocation - Using Valuation to Avoid Financial Ruin in Retirement Custom target date strategies can dramatically improve glide path fit with a participant population s characteristics using company specific information like benefit design, income and savings data, tenure and retirement behaviors. Yet, there is a valuable set of data often ignored in strategic designs asset class valuation. With a 70 year horizon (40 years of saving and 30 years of spending), and an investor base that rarely trades, we will highlight the crucial incremental benefits provided by a dynamic allocation approach that incorporates valuation in its process. In this session, we ll discuss: The history of asset valuations, demonstrating how mean reversion works The importance of asset allocation, which is second only to savings rate in importance within the Savings Success equation Methods of implementing dynamic approaches in custom target-date strategies Communication of dynamic approaches within custom designs James Sia, CFA Defined Contribution Practice Leader Catherine LeGraw, CFA Asset Allocation Strategist Liana Magner, CFA Partner, Senior Investment Consultant & US Delegated DC Leader Mercer Investment Consulting Scott Maxwell, CPA, CMA Manager 401(K) Strategy CenturyLink Investment Management, CenturyLink, Inc.

3 11:50 am - 12:30 pm PANEL DISCUSSION: Weighing the Benefits of Measured Risk and Return Sponsors looking to compare a customized strategy over what might be achieved through an off-the-shelf product need to consider several investment factors in making the decision to include custom in their plans. This panel will discuss key factors to examine as plan sponsors share their insights on their own custom experience with the following: More active management through custom Accurately measuring success despite confusing benchmark options Improved portfolio diversification Tim Friederich Vice President, Solutions Specialist AllianzGI Global Solutions Shaila Karim Director, Global Trust Investments RR Donnelley Catherine LeGraw, CFA Asset Allocation Strategist 12:30 pm - 1:40 pm Networking Luncheon 1:40 pm - 2:30 pm KEYNOTE: The Art of Communication Boring, impersonal s. Complicated sign-up forms. PowerPointless presentations. Long, jargon benefit brochures filled with blah, blah blah. We ve all received these confusing communications. And eek we ve probably sent one or two ourselves. The cost of confusion? Inaction, boredom, and frustration for your plan participants, plus the countless time you most likely spend trying to re-explain your message. It s not your fault you just haven t been taught how to explain. Until now. Learn how to make complicated topics easier to understand without putting your plan participants into a sleepinduced coma. In this session, you ll learn a step-by-step approach that will help you explain your ideas delightfully and more clearly so that your participants understand your message and in turn both parties feel confident in taking the next step forward. Speaker: Josh Braun Vice President, Business Development Jellyvision Lab Inc. (Founded by the creator of YOU DON T KNOW JACK)

4 2:30 pm - 3:10 pm CASE STUDY: Taking the Next Step in Customization Building custom target funds provides you the opportunity to help your participants reach better retirement outcomes through manager diversification and broader asset classes. However, custom target-date funds are driven by one main factor - age. Participants of the same age often have varied retirement income goals and may have saved for retirement differently, or been exposed to unique market experiences. See how one plan sponsor has taken the next step in customization and moved to custom designed asset allocations in an effort to enable participants to understand their personal retirement income goals and put a plan in place to reach them. Josh Cohen, CFA Managing Director, Head of Institutional Defined Contribution Jeff Eng, CFA Director, Retirement Income Solutions Kenneth G. Ingham, AIFA, EA, MAAA, MSPA President and Chief Executive Officer Ingham Retirement Group 3:10 pm - 3:30 pm Afternoon Networking Break 3:30 pm - 4:10 pm CASE STUDY: Designing Target-Date Strategies that Provide Predictable Retirement Outcomes As DC plans continue to replace DB plans, it s critical to consider the implications for plan participants. The most obvious and perhaps most significant consequence is the lack of predictability around retirement income. Discover how one large DC plan sponsor designed a custom dynamic asset allocation strategy that dramatically increased the certainty of expected retirement income for their employees. Glenn A. Dial Managing Director, Head of U.S. Retirement Strategy Allianz Global Investors Distributors, LLC Tim Friederich Vice President, Solutions Specialist AllianzGI Global Solutions Maarten Rust Senior Director Financial and Pension Risk Philips

5 4:10 pm - 4:50 pm PANEL DISCUSSION: Managing Expectations for Seamless Implementation Adopting custom target-date into a plan requires coordination and execution amongst several integral parties such as the plan s recordkeeper, investment committee members and its target date manager who all share the common goal of improving retirement outcomes for participants. This panel discusses what plan sponsors should expect in terms of: Creating an accurate timeline Importance of maintaining transparency on fees Streamlined core menu Participant action required to re-evaluate investment elections Non-responsive participants protected with a QDIA option of defaulting assets into an appropriate target-date fund Additional tools needed to make custom target date a realistic option Raymond Decker Managing Director, Head of Institutional Defined Contribution Client Services AllianceBernstein Frank van Etten, CFA Managing Director, Deputy Chief Investment Officer, Multi-Asset Strategies & Solutions William Ryan, SPHR Director, Client Relation Services University of California 4:50 pm - 6:00 pm Closing Cocktail Reception