Description: 2021 ImpACT Conference - Session 1D: Reserved Roles for Actuaries in Defined Contribution Plans 10.25.21 Recording

Description: summary of Canadian topics from recent Retirement Section Council meeting. Update on defined contribution initiative and potential US legislation. Highlight recent SOA research on retirement income.

Description: Retirement isn't a solo endeavor and the prospect of retirement looks starkly different depending on your family, your generation, your income and a host of other socioeconomic factors. The presenters will review the study, 'Financial Perspectives on Aging and Retirement Across the Generations' with an eye towards how these findings impact public policy, plan design for employers and financial planning for individuals and families.

Description: There is no silver bullet to improving retirement income outcomes for retirees. However, a combination of changes can be of significant value in addressing this overlooked issue. Although QLACs on the surface have potential value, they are not nearly as efficient as they could be. So far, employer plans have provided limited options for retirement income solutions. IRAs may not cost effectively serve the best interest of retirees. Employer plans should be encouraged to become retirement income providers and alternative approaches should be considered. The current prohibition on allowing plans to modify benefit payouts based on mortality experience should be reconsidered to allow for innovative plan income designs. Improvements to the deaccumulation stage of the retiree nest egg are challenging yet necessary.

Description: This 1981 discussion session is about public social policies and their impact on public and private retirement plans in the United States and Canada. The key issues discussed pertain to age, sex and marital status, and income level. Also discussed is the possible impact of public social policies on future trends in disability benefits, death benefits, termination benefits, and other factors in private and public retirement plans.

Description: This webcast provides an overview of the key provisions of the recently enacted SECURE 2.0 Act of 2022, which significantly changed the rules that apply to qualified retirement plans and IRAs. The presenters will examine a history of the legislation and focus on some of the key provisions of the Act. In particular, we will discuss provisions that give individuals more flexibility on how they will contribute to their retirement accounts and provisions that provide new ways for individuals to save. Explore certain significant structural changes to the rules such as the automatic enrollment for new plans and the elimination of lifetime RMDs for designated Roth accounts. The panel will also focus on the provisions that provide greater access to retirement funds through new distribution exceptions and how this might affect a company’s reporting obligations. Come learn about some of the relief provisions included in SECURE 2.0, including an expanded EPCRS program to cover errors relating to IRAs. In addition to a discussion about the key provisions, the panel will review steps companies should be taking to implement the SECURE 2.0 provisions, including timelines for amending documents and systems. Identify certain issues for which guidance or technical corrections is likely needed, such as clarification on the required beginning date age.

Description: 1994 SOA Meeting, San Antonio. This session provided information on executive compensation plans in the US, with special emphasis on nonqualified deferred compensation programs. Topics included: 1. The growing importance of nonqualified deferred-compensation plans and the description of those plans typically used to supplement retirement income. 2. Issues relating to severance plans. 3. Deferred compensation via stock and other equity-type compensation.

Description: This webcast provides an overview of the key provisions of the recently enacted SECURE 2.0 Act of 2022, which significantly changed the rules that apply to qualified retirement plans and IRAs. The presenters will examine a history of the legislation and focus on some of the key provisions of the Act. In particular, we will discuss provisions that give individuals more flexibility on how they will contribute to their retirement accounts and provisions that provide new ways for individuals to save. Explore certain significant structural changes to the rules such as the automatic enrollment for new plans and the elimination of lifetime RMDs for designated Roth accounts. The panel will also focus on the provisions that provide greater access to retirement funds through new distribution exceptions and how this might affect a company’s reporting obligations. Come learn about some of the relief provisions included in SECURE 2.0, including an expanded EPCRS program to cover errors relating to IRAs.

Description: Explore how certain actuarial roles should be reserved under defined benefit plans for more than 50 years during the Reserved Roles for Actuaries in Defined Contribution Plans webcast. This online event will be focused on actuaries and defined contribution (DC) plan actuaries and how they have been spotlighted by the pension industry due to their roles. Join us to discover which roles under DC plans could be reserved for actuaries by plan sponsors or through legislation.

Description: This session discussion will review rulings, regulations and announcements which have been issued in the last year. This is intended to be an overview and not a detailed analysis. Focus is on pension plans.