DEFINED BENEFIT WEBINAR
TAKING CONTROL OF YOUR CREDIT UNION PENSION PLAN
Managing defined benefit pension plan cost and risk is a challenging task for many credit union plan sponsors. To successfully manage a pension plan, a plan sponsor must have the right knowledge and advisor/solution providers to successfully navigate each plan stage, from open, ongoing plans to those in the final stages of termination. Focusing on 3 topics -- liability driven investing, pension plan accounting and plan cost analysis -- BCG’s team of defined benefit plan experts will present in this one-hour webinar the key information every credit union plan sponsor should know on each of the discussion topics below, as well as a short case study to examine recent client situations they addressed.
BCG Pension Risk Consultants | BCG Penbridge Speakers:
WEDNESDAY, JULY 14th, 2021
11:00 am - 12:00 pm EST
Held Via Zoom
Mike Devlin, Principal - BCG
Mike helps clients develop a defined benefit plan de-risking strategy that includes analyzing and implementing solutions across the de-risking spectrum. Strategies include liability driven investing, purchasing annuities for retirees and full plan terminations. Mike has over 25 years of experience in the defined benefit plan industry.
Dan Atkinson, Consulting Actuary - BCG
Dan is responsible for identifying and explaining cost and risk saving opportunities to plan sponsors, estimating current and future liabilities as well as analyzing the financial impact associated with pension de-risking actions, e.g., settlement accounting. Dan has over 20 years of experience in the defined benefit plan industry.
Steve Keating, Managing Director - BCG
Steve focuses on helping defined benefit plan sponsors evaluate plan cost, pension de-risking alternatives, and choosing annuity products and providers. Steve regularly works with plan sponsors to benchmark DB plan costs and identify potential cost savings and to improve plan governance. Steve has over 20 years of experience in the defined benefit plan industry.
Discussion Topics:
How liability driven investing may significantly decrease overall plan risk and explore how LDI compares to other common DB plan investments.
A deep dive into GAAP accounting considerations that often present barriers to de-risking actions, including methods to proactively address these barriers.
An in-depth look at the various operating costs that apply to DB plans, and how the total cost of maintaining a plan can be calculated and benchmarked to identify ways to reduce plan cost and to improve plan governance.
Case Studies:
Liability Driven Investing
Plan sponsor believed it had successfully hedged its pension liability, not realizing that the stable value fund in which it was heavily invested did very little to protect against interest rate movements.
Pension Plan Accounting
Plan sponsor was unaware of settlement accounting, and how it can have immediate, significant, undesirable effects on the defined benefit P&L expense.
Plan Cost Analysis
Plan sponsor believed it was paying next to nothing in investment expenses, missing the fine print of the true cost of the fund in which it has placed its trust.
At the conclusion of this one-hour webinar, BCG expects attendees may be looking into:
1.) What type of investment approach their plan is using for interest rate hedging and how the cost, volatility and returns of these approaches compare to liability driven investing;
3.) How well their plan is positioned when it comes to settlement accounting, what is their preferred strategy in the absence of any accounting constraints, and how do they get there; and
3.) The cost of operating their pension plan, including both direct and indirect costs of plan maintenance
Event Registration