Agenda Day 2 | SOA

Wednesday, September 7
11:45 a.m. – 1:30 a.m. Luncheon Presenter(s): Randy H. Hardock, Davis & Harmon LLP A Washington Update: the Election, Tax Reform, and Prospects for the Life Insurance Industry Session Coordinator(s) Facilitator(s)
2:30 p.m. – 2:45 p.m. Break Session Coordinator(s) Facilitator(s)

Thursday, September 8
8:00 a.m. – 9:00 a.m. Registration/Continental Breakfast Session Coordinator(s) Facilitator(s)
8:45 a.m. – 9:00 a.m. Introduction and Welcome Presenter(s): Brian King, Ernst & Young, LLP Session Coordinator(s) Facilitator(s)
9:00 a.m. – 10:15 a.m. Session 1: Life Insurance Product Tax Update: Life PBR and related topics Presentation(s): View Presentation Presenter(s): Brian King, Ernst & Young, LLP; Craig Springfield, Davis & Harman, LLP, Sheryl Flum, KPMG; Mandana Parsazad, American Council of Life Insurers; Alexis MacIvor, IRS Office of Chief Counsel Topics to include: Section 7702 mortality requirements Mortality requirements under the Valuation Manual 2017 CSO Mortality Tables Material change rules revisited Session Chair: Brian King, Ernst & Young, LLP Session Coordinator(s) Facilitator(s)
10:15 a.m. – 10:30 a.m. Break Session Coordinator(s) Facilitator(s)
10:30 a.m. – 11:45 a.m. Session 2: Life Insurance Product Tax Update: Other Life Topics Presentation(s): View Presentation Presenter(s): John Adney, Davis & Harman LLP; Craig Springfield, Davis & Harman, LLP; Mary Elizabeth Caramagno, Prudential Insurance Company; John Glover, IRS Office of Chief Counsel Topics to include: Webber v. Commissioner - the "frozen" policy in the investor control case Combination products: basis and ROPs Treatment of riders and their charges Continuing issues in the definition of cash surrender value "Reasonable" mortality and expense charges: living outside the safety net Session Chair: John Adney, Davis & Harman LLP Session Coordinator(s) Facilitator(s)
12:00 p.m. – 12:00 p.m. Session A: Variable Contract Requirements Presentation(s): View Presentation Presenter(s): Mark Smith, PWC; Eric Lanning, Lincoln Financial; Ann Cammack, Ernst & Young, LLP; Alexis MacIvor, IRS Office of Chief Counsel Variable contract requirements Diversification and investor control - Generally Investor control: Who really owns the assets? Case studies: The facts in Webber v. Commissioner Real-life issues for life insurers and policyholders Session Chair: Mark Smith, PWC Session Coordinator(s) Facilitator(s)
1:30 p.m. – 2:30 p.m. Session B: Remediation of Failed Annuity and Life Insurance Contracts Presentation(s): View Presentation Presenter(s): Daniela Stoia, Davis & Harman LLP; Brian King, Ernst & Young, LLP; Steve Dicke, Scribner, Hall & Thompson, LLP; Katherine A, Hossofsky, IRS Office of Chief Counsel Remediation of Failed Annuity and Life Insurance Contracts Implications of failed life insurance and annuity contracts Avenues for correcting failed annuity contracts Avenues for correcting failed life insurance contracts and inadvertent MEC's Session Chair: Daniela Stoia, Davis & Harman LLP Session Coordinator(s) Facilitator(s)
2:45 p.m. – 4:00 p.m. Session 3: Annuity Products Tax Update Presentation(s): View Presentation Presenter(s): Bryan Keene, Davis & Harman LLP; Shannon Gamache, Mass Mutual; Rebecca Baxter, IRS Office of Chief Counsel Suggested topics to include: QLAC and DIAs LTR 201424014-Annuity Treatment for Term Certain Variable Payout LTR 201515001- Diversification and investor control DOL fiduciary Rules Other recent IRS guidance Session Chair: Bryan Keene, Davis & Harman LLP Session Coordinator(s) Facilitator(s)
4:00 p.m. – 4:15 p.m. Break Session Coordinator(s) Facilitator(s)
4:15 p.m. – 5:00 p.m. Session 4: Ask the Experts - Part 1 Presenter(s): Brian King, Ernst & Young, LLP; Alexis MacIvor, IRS Office of Chief Counsel; All speakers have been invited to participate Session Chair: Brian King, Ernst & Young, LLP Session Coordinator(s) Facilitator(s)
5:30 p.m. – 7:00 p.m. Reception: Office Davis & Harman LLP Session Coordinator(s) Facilitator(s)