Illinois Public Pension and OPEB Institute - Part I

Seminar

Thursday, March 1, 2018, 8:25 AM–4:30 PM

NIU Naperville, 1120 East Diehl Road, Naperville, IL 60563 Map »

  • Members $150.00 Before Feb 23, 2018 $160.00 Between Feb 23, 2018 and Mar 1, 2018
  • Government staff members $155.00 Before Feb 23, 2018 $165.00 Between Feb 23, 2018 and Mar 1, 2018
  • Non-members $170.00 Before Feb 23, 2018 $180.00 Between Feb 23, 2018 and Mar 1, 2018

RegisterMembers, sign in to register at discounted member rates »

Save to your calendar


Description

MEETS PUBLIC PENSION TRUSTEE CONTINUING EDUCATION REQUIREMENTS


AGENDA AND SPEAKERS

7:40–8:25AM              Registration & Continental Breakfast

8
:25–8:30AM              Welcome and Overview

8
:30–9:20AM              Illinois Pension Landscape & Moody’s Metrics
                                          Speakers:       Matt Butler, Vice President, Moody’s Investors Services and 
                                                                      David Levett, Assistant Vice President-Analyst,
                                                                       Moody’s Investors Services
The session will provide an overview of Moody’s pension metrics and pension landscape for Illinois local governments.
Learning ObjectivesParticipants completing this session will be able to:
1. Understand the constitutional and statutory landscape for IL pensions and how that compares with other states;
2. Learn how Moody’s analyzes local government pensions and calculates its adjusted net pension liability (ANPL);
3. Learn how Moody’s analyzes pension contributions to determine their sufficiency in addressing unfunded liabilities; and,
4. Understand how other credit factors mitigate or exacerbate credit challenges associated with unfunded pensions.

9
:20 –10:10AM            Two Tier or Not Two Tier: So Many Questions?
                                            Speaker:    Allison Barret, Principal, Lauterbach & Amen, LLP
Understand the difference between a Tier I and Tier II member, and learn the difference between Tier I and Tier II as they relate to benefit calculations and pensionable salary.  Understand the new service purchase and transfer opportunities afforded to Article 3 and Article 4 members under Public Act 100-0544.
Learning Objectives: Participants completing this session will be able to:
1. Understand the definition of a Tier II member under Article 3 and Article 4;
2. Learn how to calculate the pensionable salary for a Tier I member and a Tier II member under Article 3 and Article 4;
3. Learn how to calculate pension benefits for a Tier I member and a Tier II member under Article 3 and Article 4; and,
4. Understand and calculate the transfers of service from Article 3 to Article 4 and from Article 4 to Article 6 under Public Act 100-0544.

10:
10–10:20 AM          Morning Break

10:20–11:35 AM          Cyber Security
                                            Speakers:    Alex Brown,Senior Manager – Information Technology Consulting,
                                                                      Plante Moran and 
Natalie Schwarz, Consulting Manager –
                                                                      Management Consulting, Plante Moran
This session will provide an overview of IT security trends and events governments are facing in today’s environment. This presentation will also examine the rise in the number of security breaches within organizations, highlight security risks associated with the increase in demand from mobile devices, social media, and cloud computing, and review the process for setting up an Information Security Program to address security risks and increasing data demands.  
Learning Objectives: Participants completing this session will be able to:
1. Gain a basic understanding of technology threats organizations face in today’s environment with the increase in demand for new and emerging technology;
2. Identify best practice tips for setting up an Information Security Program to address security risks and increasing data demands; and, 
3. Gain an understanding of the framework elements required to build an effective Information Security Program.

1
1:35 AM –12:10PM   Legislative Update
                                            Speaker:    William McCarty, Director – Office of Budget & Management,
                                                                    City of Springfield and 
IGFOA  Executive Board Member
                                                                     and IGFOA Legislative Committee Chair.
This session will provide insight about current legislative issues and concerns related to pension reform, efforts to consolidate funds, and the status of the proposed property tax freeze as it relates to pension levies.
Learning Objectives: Participants completing this session will be able to:
1. Understand the views held by state legislators on pension reform and how an eventual agreement may affect local governments and pension boards;
2. Explore recent developments in proposed pension reform legislation; and,
3. Understand the key provisions of proposed property tax freeze legislation and how those provisions could impact pension levies. 

12:10–12:50 PM             Networking Luncheon

12:50–1:40PM                 IMRF Update
                                               Speaker:    Mark Nannini, Chief Financial Officer,
                                                                        Illinois Municipal Retirement Fund (IMRF)
The Illinois Municipal Retirement Fund (IMRF) is the administrator of an agent multiple-employer public retirement system that provides retirement, death, and disability benefits to employees of local governments in Illinois. IMRF is governed by Article 7 of the Illinois Pension Code (940 ILCS 5). This session will review IMRF operations, provide a general overview of important topics impacting pension fund operations, funding, and benefits, and include a discussion on the impact of recent legislation.
Learning Objectives: Participants completing this session will be able to:
1. Understand the operations and funding of IMRF;
2. Learn about employers’ participation in IMRF; and, 
3. Obtain a working knowledge of IMRF, staff assistance, and the impact of recent legislation.

1:40–2:30PM                 Funding Decisions: Impact of Tier II & Impact of Amortization Basis Decisions
                                             Speaker:    Kathy Manning, Managing Principal, MWM Consulting Group
This session will review the financial impact the benefit modifications of Tier II will have upon projected plan liabilities and annual contribution requirements.   The session will also include long-term forecasts illustrating the annual liabilities of Tier I and Tier II members and the timing regarding expectations for reduced contributions associated with the benefits change. Finally, the session will illustrate the impact upon funded ratios, unfunded liabilities, and projected contribution requirements associated with various amortization basis decisions. 
Learning Objectives: Participants completing this session will be able to:
1. Gain a “feel” for the evolution of future liabilities and expected cost reductions associated with TIER II benefits;
2. Understand the mechanics of amortization basis methods and their long-term implications; and,
3. Have a conceptual framework for reference in the development of funding policies with Boards, management, and actuaries.

2:30–2:50PM         Afternoon Break 

2:50–3:40PM         A New Approach to Public Safety Pension Funding
                                    Speaker:    Elizabeth Holleb, Director of Finance & IT, City of Lake Forest
This session presents a case study examining changes made to an Illinois municipality’s approach to funding its police and fire pension fund obligations.  A pension subcommittee consisting of the City’s Finance Director, City Manager, City Council Finance Committee Chair, and another Alderman worked with the City’s independent actuary to examine alternative approaches in an effort to mitigate the 8-9% annual increase in funding requirements.
Learning Objectives: Participants completing this session will be able to:
1. Identify key assumptions impacting annual pension funding requirements;
2. Consider alternative approaches to funding public safety pensions; and,
3. Assess important considerations in examining alternative funding approaches. 

3:40–4:30PM         Police & Fire Pension Fund Consolidation
                                     Speaker:    Dan Ryan, Project Coordinator,
                                                             Illinois Public Pension Fund Association (IPPFA)
The session will provide an overview of Illinois Article 3/4 pension plans, the main arguments for consolidation into a statewide system, factors to be considered before a consolidation decision is made, and a discussion of ways to improve cost and performance regardless of a decision to consolidate.
Learning Objectives:  Participants completing this session should be able to:
1. Understand what is meant by pension fund consolidation;
2. Learn about the pros and cons of pension fund consolidation;
3. Be prepared to advise local or state officials and citizens on pension fund consolidation issues; and,
4. Undertake local action or support state legislation to improve pension fund cost-effective operations.

4:3
0PM     Closing Remarks

Learning Objectives - Participants completing this Institute will be able to: Review Here

Seminar description:


Intended Audience:
  Finance Directors, Managers, Administrators, Accountants, Assistant Managers, Assistant Finance Directors, Pension Board Trustees, and professional staff and officials interested in local government pension issues. 

Delivery Method:
 
Group-Live
Program Level: Overview
Prerequisites: 
No prerequisites required
Advanced Preparation: 
No advanced preparation required
Field of Study: 
Accounting (Governmental), Finance
Earn About 8.0 CPE credit

IGFOA reserves the right to modify the agendas and/or speakers, cancel the trainings due to low enrollment, or to close registration if full.  

CPE hours: 8.00

For more information

IGFOA
info@igfoa.org
630-942-6587

Registration and cancellation policy

Registrations are accepted on a first-in, first registered basis. Payments by check should be mailed in advance or made at time of registration by credit card. 

IGFOA Members are those Public Sector and Partner or Associate individuals specifically listed in the IGFOA Membership Application or Renewal. IGFOA Government Staff rate applies to staff, appointed officials, and elected officials of a government with a current IGFOA membership. If you have questions about your membership, contact IGFOA at 630-942-6587. The IGFOA reserves the right to apply the non-member fee to any individual or government that has not paid dues for the current year.

If you are unable to attend, please contact IGFOA at 630-942-6587 or info@igfoa.org as soon as possible.  A $20 cancellation fee will be charged for cancellations up to February 23, 2018. Cancellations after February 23, 2018 and no-shows are responsible for the full tuition.

IGFOA reserves the right to modify the agenda, cancel the event due to low enrollment, or to close registration if full. 

Should IGFOA cancel an event, cancellation notice will be sent to the email address provided by each registrant and prominently posted at the IGFOA website page announcing the event. By submitting this registration, the applicant agrees to the registration and cancellation policy above.

Approved by the National Registry of CPE Sponsors

CPE RegistryIllinois Government Finance Officers Association is registered with the National Association of State Boards of Accountanc (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Member services

Manage your IGFOA profile, settings, preferences, and more.

Manage your membership profile »
Username + password, contact info, etc.
Track your CPE credit »
Keep your credits up-to-date
Renew your membership »
Don't lose access to valuable benefits
Latest Job Listings

Browse all job listings »

Employers, find top candidates
Post a job listing »

Get Involved

The IGFOA needs you. Volunteers are key to our diverse programs and services. Please help the IGFOA continue to promote excellence in governmental finance.


Have something to share? We want to hear from you! Submit suggestions, comments, or ideas for articles and educational events »