NAGDCA 2017 Annual Conference Agenda

September 24-27, 2017
Wisconsin Center


Conference agenda is subject to change.
All activities held in the Wisconsin Center (convention center connected to the Hilton) unless otherwise noted. 

SUNDAY SEPTEMBER 24
9:00 a.m. - 11:30 a.m. NAGDCA Board Meeting
11:30 a.m. - 12:00 p.m. ANC Foundation Board Meeting
11:30 a.m. – 6:00 p.m. Registration Desk Open
12:00 p.m. - 3:00 p.m.
InFRE Pre-conference Workshop - "Distribution, rollover and beneficiary tax planning for defined contribution plans and IRAs"
Speaker: Denise Appleby, Mistakes Prevention Expert, Appleby Consulting

1:00 p.m. - 2:00 p.m. Theresa Cruz Myers 5K Fun Run/Walk T-Shirt Pickup
(registered runners only)
2:15 p.m. - 4:15 p.m. "Intro to DC Plan Success"
This program focuses on the primary concepts related to achieving successful outcomes in a defined contribution plan. It may be particularly beneficial to government or industry professionals new to working with DC plans, or seasoned professionals interested in a fresh take on the building blocks of expanding participant success.
2:15 p.m. - 2:45 p.m. New Committee Member Orientation
3:00 p.m. - 4:15 p.m. Committee Meetings
4:30 p.m. - 5:00 p.m. Student/Mentor Orientation
5:30 p.m. - 7:00 p.m. President’s Reception
MONDAY SEPTEMBER 25
7:15 a.m. - 8:00 a.m. Breakfast buffet
7:30 a.m. - 4:00 p.m. Registration Desk Open
8:15 a.m. - 8:45 a.m. Conference Opening and Welcome
8:45 a.m. - 9:45 a.m. Keynote Session
Brigette MadrianSpeaker: Dr. Brigitte Madrian, Harvard Kennedy School

Brigitte Madrian is the Aetna Professor of Public Policy and Corporate Management at the Harvard Kennedy School. Dr. Madrian’s current research focuses on behavioral economics and household finance, with a particular focus on household saving and investment behavior. Her work in this area has impacted the design of employer-sponsored savings plans in the U.S. and has influenced pension reform legislation both in the U.S. and abroad. 
9:45 a.m. - 10:00 a.m. Break
10:00 a.m. - 11:00 a.m.

General Session - "The New Washington"
Speakers: Marilyn Collister, Empower
Leigh Snell, NCTR
Susan White, Susan J. White & Associates
Moderator: Jeff Snyder, Cammack Retirement Group

The Department of Labor has recently opened the door to several new types of public plans, including automatic IRA plans and multi-employer plans. In addition, the new fiduciary rule is due to take effect in 2017. With changes to the public plans landscape and new administrations in place in governments across the country and in DC, the panel will discuss the outlook for the regulatory environment, and NAGDCA’s role in advocating for retirement security in the public sector.  

11:00 a.m. - 11:30 a.m. Break
11:30 a.m. - 12:30 p.m.
Concurrent Sessions (3 topics)

"Education, Guidance vs. Advice"
Speakers: Jeff Cable, Colorado PERA
David Levine, Groom Law
Craige Stone, State of Utah
Moderator: Gregg Holgate


There is no question that Plans and service providers, particularly recordkeepers, do not want to unwittingly cross the line and slip from education and guidance into providing investment “advice” to participants. But where is that line? Is it a bright line test? This session will address how participants understand information, if the sophistication of a participant can impact whether information is advice or education and how approaches should change for different types of participants. In addition, we will talk about the options for providing advice in a plan, how recent fee litigation might impact a plan’s decision to provide advice, and how to best help participants to evaluate the quality and cost-effectiveness of investment advice, both inside and outside of the plan. Last, we will consider the potential risks (if any) with respect to default investments.   

"Financial Wellness Into and Through Retirement – Working with participants to achieve and maintain retirement security and be financially well in retirement"
Speakers: John Maurer, Ohio Deferred Compensation
Aaron Tabela, Financial Engines
Kathleen Wilson, ICMA-RC
Moderator: Diane Garnick, TIAA


The need for increased education on financial literacy is overwhelming and employers are increasingly being asked to take the lead on providing financial education to employees. Translating retirement savings to income in retirement is an issue that has taken on increased urgency, as has the need for retirees to plan for health care expenses. This session will focus on concrete examples of what plan sponsors are actually doing to promote financial wellness in retirement:         

                                                    
• Communicating a holistic view of expenses and needs that participants will have in retirement. 
• This includes health care costs and the tools and levels plan sponsors can realistically deploy to assist 
  participants like HSAs and defined contribution accounts for retiree health care. 
• Products plan sponsors are currently using and the results they are seeing.


"Participant Action – Using Behavioral Economics to shape participant communications that engage participants and promote positive actions"
Speakers: Warren Cormier, NARPP
Lara Hinz, WISER
Ketul Thaker, MassMutual
Moderator: Polly Scott, Wyoming Retirement System


Participants in defined contribution retirement plans are asked to take on more responsibility for their retirement security and to make exponentially more decisions on the path toward – hopefully! – achieving security and dignity in retirement.  This session will focus on the emerging field of behavioral economics as it relates to communicating with participants. Topics covered will include:  

      
• The concept of enhanced active choice and how that can lead to higher levels of "perceived" responsibility and positively impact participate decisions in the short and long-term.
• Addressing loss aversion and helping to “smooth the ride” for participants.
• The “IKEA effect” and what it means for plan sponsors and participants.
• The “power of nothing” and the importance of encouraging participants to do less but make 
  it more impactful.
 

12:00 p.m. - 2:00 p.m. Theresa Cruz Myers 5K Fun Run/Walk T-Shirt Pickup
(registered runners only)
12:30 p.m. - 1:45 p.m. Opening Luncheon
2:00 p.m. - 3:00 p.m Concurrent Sessions (3 topics repeated)

"Education, Guidance vs. Advice"
Speakers: Jeff Cable, Colorado PERA
David Levine, Groom Law
Craige Stone, State of Utah
Moderator: Gregg Holgate


There is no question that Plans and service providers, particularly recordkeepers, do not want to unwittingly cross the line and slip from education and guidance into providing investment “advice” to participants. But where is that line? Is it a bright line test? This session will address how participants understand information, if the sophistication of a participant can impact whether information is advice or education and how approaches should change for different types of participants. In addition, we will talk about the options for providing advice in a plan, how recent fee litigation might impact a plan’s decision to provide advice, and how to best help participants to evaluate the quality and cost-effectiveness of investment advice, both inside and outside of the plan. Last, we will consider the potential risks (if any) with respect to default investments.   

"Financial Wellness Into and Through Retirement – Working with participants to achieve and maintain retirement security and be financially well in retirement"
Speakers: John Maurer, Ohio Deferred Compensation
Aaron Tabela, Financial Engines
Kathleen Wilson, ICMA-RC
Moderator: Diane Garnick, TIAA


The need for increased education on financial literacy is overwhelming and employers are increasingly being asked to take the lead on providing financial education to employees. Translating retirement savings to income in retirement is an issue that has taken on increased urgency, as has the need for retirees to plan for health care expenses. This session will focus on concrete examples of what plan sponsors are actually doing to promote financial wellness in retirement:         

                                                    
• Communicating a holistic view of expenses and needs that participants will have in retirement. 
• This includes health care costs and the tools and levels plan sponsors can realistically deploy to assist 
  participants like HSAs and defined contribution accounts for retiree health care. 
• Products plan sponsors are currently using and the results they are seeing.


"Participant Action – Using Behavioral Economics to shape participant communications that engage participants and promote positive actions"
Speakers: Warren Cormier, NARPP
Lara Hinz, WISER
Ketul Thaker, MassMutual
Moderator: Polly Scott, Wyoming Retirement System


Participants in defined contribution retirement plans are asked to take on more responsibility for their retirement security and to make exponentially more decisions on the path toward – hopefully! – achieving security and dignity in retirement.  This session will focus on the emerging field of behavioral economics as it relates to communicating with participants. Topics covered will include:  

      
• The concept of enhanced active choice and how that can lead to higher levels of "perceived" responsibility and positively impact participate decisions in the short and long-term.
• Addressing loss aversion and helping to “smooth the ride” for participants.
• The “IKEA effect” and what it means for plan sponsors and participants.
• The “power of nothing” and the importance of encouraging participants to do less but make 
  it more impactful.
 

3:00 p.m. - 3:30 p.m. Break
3:30 p.m. - 4:30 p.m. General Session - "Above and Beyond – The Latest in Investment Menu Innovations"
Speakers: Brendan Curran, State Street Global Advisors
Brendan Curran, State Street Global Advisors
Moderator/Speaker: Jayson Davidson, Hyas Group


Behavioral finance studies show that investment menu design has a large effect on participant decision making. There is greater flexibility available now more than ever for plan sponsors to apply these concepts when creating or revamping the lineup. Learn what leading plans are doing with their investment menus to help participants make better choices. Topics to be covered include:

·  The latest thinking on tiered investment menus

·   White label options

·   Target date funds
·   Alternative vehicles such as collective trusts and separate accounts

 4:45 p.m. - 5:30 p.m. Leadership Awards' Photos
TUESDAY, SEPTEMBER 26
6:00 a.m. Theresa Cruz Myers 5K Fun Run/Walk Participants Meet
(registered runners only)
6:30 a.m. Theresa Cruz Myers 5K Fun Run/Walk Begins
7:30 a.m. - 4:00 p.m. Registration Desk Open
7:30 a.m. - 8:15 a.m.
Breakfast Buffet
8:15 a.m. - 9:15 a.m. Concurrent Sessions (3 topics)

“Behavioral Economics: From Theory to Practice”
Speakers: Rob Austin, Aon Hewitt
Greg Jenkins, Invesco
Marc Metzger, Nationwide
Moderator/Speaker: Wendy Carter, The Segal Group

So much has been written and discussed about behavioral economics in the last few years and yet many of us struggle to implement behavioral finance-based plan features that will improve participant outcomes.  This session will explain the fundamental tenants of behavioral finance, how they have been tested and proven correct, and where to access that data.  In addition, this session will address which specific theories can best be applied in the public DC space and how to do so, as well as the implications of having a large DB benefit. Last, we will talk about behavioral finance case studies in the public-sector DC space and whether there are any meaningful differences between public and private sector employees when it comes to behavioral finance. 

“Fees: understanding fees and avoiding fee-based litigation”
Speakers: David Levin, Groom Law
Tom Mueller, Sanitation Districts of LA County
Jake O’Shaugnessy, SageView Advisory Group
Moderator: Jamie McAllister, Callan

This session will be divided into two parts. The initial section will begin with a review of both explicit fees and implicit fees associated with investments and administration within a DC retirement system. A reference and definition sheet and hand out will be made available. Fees involved in plan administration will also be compared to the results of the NAGDCA fee benchmarking service, and a portion of the discussion will cover taking stock of the services being paid for by the fees, and which services drive costs the most for vendors.

Part two of the session will examine the various types of fee lawsuits that are facing the DC industry today. The panel will review best practices that are designed to meet two goals: mitigating litigation risk, and prudently monitoring DC plan fees.

“Internal Benchmarking for Continuous Improvement”
Speakers: Jen Archer, JP Morgan
Brian Merrick, VOYA
Moderator/Speaker: Maggie Daun, County of Milwaukee

Benchmarking can be external or internal. Learn different techniques and the advantages of internal benchmarking and how plans are using their own plan data to monitor progress and trends over time, and how internal benchmarking helps to measure outcomes and identify opportunities for improvement.

9:15 a.m. - 9:45 a.m. Break
9:45 a.m. - 10:45 a.m Discussion Deck
Crafted exclusively for the conference, this session will take an interactive approach to encourage thoughtful discussion in breakout groups. Each group discussion will be unique and allow members to learn from each other by discussing a range of engaging and interesting questions. You won't want to miss this enriching networking session.
11:00 a.m. - 11:15 a.m. Break
11:15 a.m. - 12:15 p.m. Government Breakout Sessions by Asset Size
(Government members and students only)

Session #1: $100 million or less
Session #2: $101 million - $250 million
Session #3: $251 million - $499 million
Session #4: $500 million - $999 million
Session #5: $1 billion - $3 billion
Session #6: > $3 billion
11:15 a.m. - 12:15 p.m. Industry Members Business Meeting
12:00 p.m. - 4:15 p.m. Guest Program
(registered guests only)

The afternoon will begin with lunch at Mader's German Restaurant, Milwaukee’s oldest restaurant, located on Historic Old World Third Street. You will enjoy a wonderful German buffet with a variety of German food including apple strudel for dessert. Following lunch, you will enjoy a tour featuring highlights of the historical and architectural areas of Milwaukee. In addition to the downtown business district, the tour will include many of Milwaukee's neighborhoods including the East Side, the lakefront and the Historic Third Ward.The last stop will be at MillerCoors Brewing Company, where you will experience over 155 years of brewing history with a modern twist. You will be able to view the brewing process up close, and sample how beer is made in Milwaukee. 
12:30 p.m. - 1:45 p.m. Government Member Lunch and Business Meeting
(Government Members)
2:00 p.m - 3:00 p.m. General Session - "Benchmarking by the Numbers...Turning information into value for sponsors and participants"
Speakers: Steve Ferber, PIMCO
Keith Overly, Ohio Deferred Compensation Program
Jean Young, Vanguard
Moderator: Steve Gordan, AndCo Consulting


How is NAGDCA’s public sector benchmarking data bringing actionable information to public plans? And, what does the data show about public plan practices, how they are different from other types of plans, and what are the takeaways? Learn why external benchmarking data is important and how we can use the data to improve plans and improve participant outcomes.

3:00 p.m. - 3:30 p.m. Break
3:30 p.m. - 4:30 p.m. Discussion Deck
Crafted exclusively for the conference, this session will take an interactive approach to encourage thoughtful discussion in breakout groups. Each group discussion will be unique and allow members to learn from each other by discussing a range of engaging and interesting questions. You won't want to miss this enriching networking session.
4:30 p.m. - 4:45 p.m. Break
4:45 p.m. - 5:30 p.m. Quiz Bowl - Elimination Round

6:00 p.m. - 9:00 p.m.
The Harley-Davidson® Experience
Join your colleagues for a night of food, drinks, and fun at the Harley-Davidson® museum. discover the Harley-Davidson® experience with after-hour tours, stationary rides on a Harley-Davidson® motorcycle, temporary tattoos, and a photo booth featuring a display sit on bike.
Buses will be running continuously between the Harley-Davidson® Museum and the hotel
WEDNESDAY, SEPTEMBER 27
7:30 a.m. - 1:00 p.m. Luggage Storage
7:45 a.m. - 10:30 a.m. Registration Desk Open
7:45 a.m. - 8:30 a.m. Annual Conference - Member Focus Group
(By invitation only)
7:45 a.m. - 8:30 a.m. Breakfast Buffet
8:30 a.m. - 9:15 a.m. NAGDCA Retirement Knowledge Quiz Bowl - Finals
(open to all)
9:30 a.m. - 10:30 a.m. Concurrent sessions - (3 topics repeated)


“Behavioral Economics: From Theory to Practice”
Speakers: Rob Austin, Aon Hewitt
Greg Jenkins, Invesco
Marc Metzger, Nationwide
Moderator/Speaker: Wendy Carter, The Segal Group

So much has been written and discussed about behavioral economics in the last few years and yet many of us struggle to implement behavioral finance-based plan features that will improve participant outcomes.  This session will explain the fundamental tenants of behavioral finance, how they have been tested and proven correct, and where to access that data.  In addition, this session will address which specific theories can best be applied in the public DC space and how to do so, as well as the implications of having a large DB benefit. Last, we will talk about behavioral finance case studies in the public-sector DC space and whether there are any meaningful differences between public and private sector employees when it comes to behavioral finance. 

“Fees: understanding fees and avoiding fee-based litigation”
Speakers: David Levin, Groom Law
Tom Mueller, Sanitation Districts of LA County
Jake O’Shaugnessy, SageView Advisory Group
Moderator: Jamie McAllister, Callan

This session will be divided into two parts. The initial section will begin with a review of both explicit fees and implicit fees associated with investments and administration within a DC retirement system. A reference and definition sheet and hand out will be made available. Fees involved in plan administration will also be compared to the results of the NAGDCA fee benchmarking service, and a portion of the discussion will cover taking stock of the services being paid for by the fees, and which services drive costs the most for vendors.

Part two of the session will examine the various types of fee lawsuits that are facing the DC industry today. The panel will review best practices that are designed to meet two goals: mitigating litigation risk, and prudently monitoring DC plan fees.

“Internal Benchmarking for Continuous Improvement”
Speakers: Jen Archer, JP Morgan
Brian Merrick, VOYA
Moderator/Speaker: Maggie Daun, County of Milwaukee


Benchmarking can be external or internal. Learn different techniques and the advantages of internal benchmarking and how plans are using their own plan data to monitor progress and trends over time, and how internal benchmarking helps to measure outcomes and identify opportunities for improvement.

10:30 a.m. - 10:45 a.m. Break
10:45 a.m. - 11:45 a.m. Closing Session
Lowell CatlettSpeaker: Dr. Lowell Catlett

Dr. Lowell Catlett, was a Regents Professor in Agricultural Economics and Agricultural Business and Extension Economics and the Dean of the College of Agricultural, Consumer and Environmental Sciences at New Mexico State University until he retired in 2015. He is the author of numerous books and articles and won the university’s highest award to a professor, the Westhafer Award. He works nationally and internationally with corporations and organizations doing futuristic planning concerning the impacts of technology on careers, lifestyles and the economy.
12:00 p.m. - 1:00 p.m. 2018 Annual Conference Committee Meeting