2021 Virtual Conference Sessions: Compensation and Benefits
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Sessions for Monday, July 12
No compensation and benefits sessions for July 12
Sessions for Tuesday, July 13
No compensation and benefits sessions for July 13
Sessions for Wednesday, July 14
No compensation and benefits sessions for July 14
Sessions for Thursday, July 15
Reap What You Sow: Financial Reporting for Defined Contribution Pension, OPEB, and Other Employee Benefit Plans
With the implementation of GASB Statements Nos. 84 and 97, governments will need to quickly make assessments about whether defined contribution pension and postemployment benefits other than pensions (OPEB) plans, including some IRS Section 457 plans, need to be included in their financial statements. This session will examine the process of determining whether 457 plans are defined benefit or defined contribution pension plans or other employee benefit plans, and how those determinations affecting their inclusion in or exclusion from a sponsoring government's fiduciary fund financial statements.
Overview of Defined Contribution and Deferred Compensation Plans
As local governments are considering and even adding elements of defined contribution and deferred compensation plans to their retirement offerings, it is important that the finance officer understand the fiduciary considerations of doing so. This session will highlight what finance officers should be aware of in terms of fiduciary responsibility as well as provide an update on trends in these retirement vehicles.
Sessions for Friday, July 16
No Such Thing as a Quick Fix: Cautionary Ideas to Address Pension Liabilities
With the economic downturn, governments are facing increased budgetary pressure. Additionally, pension plans may see lower than anticipated investment returns compelling governments to utilize short-term solutions to alleviate pension pressures. During this session, speakers will provide an update on the state of public pensions and explain several ideas proposed to reduce pension liabilities. For each option, speakers will discuss the business case in favor along with potential limitations, risks, and long-term challenges.
Sessions for Monday, July 19
No compensation and benefits sessions for July 19
Sessions for Tuesday, July 20
No compensation and benefits sessions for July 20
Sessions for Wednesday, July 21
No compensation and benefits sessions for July 21
Sessions for Thursday, July 22
Public Plans Data: Quick Access to Information on Public Plans at Your Fingertips
The Public Plans Data (PPD) began in 2007 as a tool to provide easy access to quick facts about public pensions at the national, state, system, and plan level. Now, in 2021, the PPD contains data from over ninety percent of pension assets and members in the United States. This session will provide an overview of the PPD, how finance officers can utilize the online tool, and highlight important research developed using the data.
Sessions for Friday, July 23
Show Me the Money: Trends in Compensation and Benefits Administration
Compensation and benefits are critical considerations for recruitment and retention and can exceed seventy to eighty percent of a government's operating budget. This session will cover the benefits and payroll implications of the pandemic, including the recent stimulus bills, CARES, CCA, and ARPA. Specific topics will include how to deal with remote employees, tax consequences associated with various pandemic-related benefits, Form 1099 rules for grant reporting, needed updates to an agency’s retirement and health benefit programs including deadlines, and required communications to employees and retirees.
