Pat DiCarlo soke on "New Issues in 411(d)(6)" during Track #2 on Monday, April 7, 2:30pm - 4:00pm. 411(d)(6) is seemingly a simple code section - thou shalt not reduce accrued benefits by amendment. What could possibly be misunderstood? The panel of experts showed attendees the regulations and court cases (including Heinz) redefine some simple words.
David Godofsky spoke on "Courts vs. IRS (C 1.8)" on Tuesday, April 8, 8:45am - 10:30am during the General Session. What do you do when court decisions conflict with regulations or interpretations from the agencies (IRS, Treasury, DOL and the PBGC)? Which "rule" do you follow? Court decisions can differ significantly from agency guidance on matters such as: cash balance/age discrimination; how to apply backloading rules; how to calculate a lump sum; whether death benefits are accrued; whether to give actuarial increases to benefits that start after NRA; how to apply ERISA Section 404(c); and many other important issues. What do you do when court decisions conflict with one another? How much reliance can you have in your determination letter? Panelists discussed the structure of the federal courts, the hierarchy of legal authority, and issues raised for pension plans. In addition to providing insight on specific areas where courts and agencies have disagreed, the panelists discussed general strategies actuaries could use to deal with the chaos.
David also spoke on another panel titled "Top 10 Unresolved Issues in PPA (C 1.5)" on Wednesday, April 9, 9:00am - 10:15am. PPA has answered a lot of questions related to the future of pension funding rules. A number of issues, however, remain unclear. Panelists reviewed and discussed the major open issues on which the pension community still awaits guidance.
April 6-9, 2008
Marriott Wardman Park Hotel / Washington, DC