Public Pension Finance Symposium

Below you will find presentations for the 2009 Public Pension Finance Symposium, held on May 18–19, in Chicago IL. Please note that some have multiple presentations from different authors/presenters and that some may not be available.

• Monday, May 18

 

• Luncheon Speaker: The GASB has Some Pension Accounting Questions for You
• Karl Johnson

 

• Session 1
• Measuring Public Pension Liabilities–The Contrasting Views
• Moderator: Gene Kalwarski
• Discussant: Ethan Kra, Kim Nicholl

 

• Cost Vs. Value: Financial Economics and Public Pension Plans
• Paul Angelo

 

• Discounting State and Local Pension Liabilities
• David Wilcox

 

• Session 2
• The Rationale for Traditional Actuarial Models
• Moderator: Tom Lowman
• Discussant: Phil Kapler, Sean F. McShea

 

• Actuarial Methods and Public Pension Funding Objectives: An Empirical Examination
• Norman L. Jones, Brian B. Murphy, Paul Zorn

 

• Revisiting Pension Actuarial Science
• Piotr Krekora, Krzysztof Ostaszewski, James Rizzo

 

• Session 3
• The Financial Economics View for Measuring Public Pension Liabilities
• Moderator: Andy Peterson
• Discussants: Alan Milligan, Bob North

 

• A Pension Rosetta Stone: Reconciling Actuarial Science and Pension Accounting with Economic Values
• M. Barton Waring

 

• The Case for Marking Public Plan Liabilities to Market
• Jeremy Gold, Gordon Latter

 

• Session 4
• New Ideas for the Future
• Moderator: Gene Kalwarski
• Discussants: Eric Friedman, Graham Schmidt

 

• Public Pension Plan Financing: The Devil's in the Actuarial Details
• David J. Kehler

 

• The Debate Over Applying FE Principles to the Funding of Public Pension Plans: A Transition Proposal and Other Ideas
• Tom Lowman

 

• The Case for Stochastic Present Values
• Dimitry Mindlin

 

• Tuesday, May 19

 

• Session 5
• Risk Management Ideas for Public Pension
• Moderator: Tom Lowman
• Discussants: Mark Ruloff, David Wescoe

 

• Communicating Risk in Public Pension Plans
• Robert T. McCrory

 

• How Much Investment Risk Can a Government–Sponsored Pension Plan Afford?
• Bill Hallmark, David Kelly

 

• Public Plans: Using Risk Profiles to Manage Funding Goals
• Joshua Davis, Scott Porter, Karen Steffen

 

• Session 6
• The Role & Impact of Equities in Public Plan Investing
• Moderator: Emily Kessler
• Discussants: Jeremy Bulow, David Kausch

 

• How Should Public Pension Plans Invest
• Deborah Lucas, Stephen Zeldes

 

• Public Pension Promises: How Big Are They and What Are They Worth?
• Robert Novy–Marx, Joshua Rauh

 

• Session 7
• Panel Discussion–Where Do We Go From Here?
• Moderator: Andy Peterson
• Panel: Paul Angelo, Jeremy Gold, Tom Lowman, Bob North