August 21–23, 2016Omni New Haven Hotel at Yale University

New Haven, CT

2016PUBLIC PENSION

FUNDING FORUM

Early-Bird Registration Deadline August 5

ABOUT THE FORUM

The issue of pension funding gap, real or not, is often used to change pension plans in ways that are harmful to our economy. The most common solutions revolve around increasing employee contributions, reducing benefits, and converting defined benefits plans into defined contribution plans

or some combination plan. Regardless of whether these fixes will work in the long run, they do have serious societal consequences. Empirical data suggest that undermining defined benefit pension plans increases income inequality, puts a drag on the economy, and increases economic volatility. In the end, everyone suffers, not just those who have pensions.

The Forum is unique in several ways:

m The Forum is narrowly focused on developing research and education program on pension funding issues.

m The background research for the Forum focuses on exploring how dismantling of public pensions harms all stakeholders – taxpayers, employers, and local businesses and economies – not just public employees.

m The Forum engages the best minds, especially Nobel Prize winning economists, who have a deeper understanding of the social and economic forces.

m The research and education effort is driven by the people on the front lines.

Overarching goal of the Forum is to inject new thinking that might solve the challenges and preserve and enhance public pension plans, and hence our future prosperity.

WHO SHOULD ATTEND?

m Trustees of state and local pension funds m Administrators of state and local pension fundsm Officials of state and local finance department/treasurer’s officem Legislatorsm Members of Municipal Bond Communitym Members of Investment Communitym Members of Public Pension Advocacy Communitym Academic and Pension Research Community

Robert J. Shiller is an American Nobel Laureate, economist, academic, and best-selling author. He currently serves as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management’s International Center for Finance. He is ranked among the 100 most influential economists of the world. His joint book with Akerlof, Phishing for Phools: The Economics of Manipulation and Deception, implies that by converting pensions into do-it-yourself defined contribution plans, we are exposing people to the economics of manipulation and deception, and hence setting them up for failure in retirement. Professor Shiller is well known for his work on irrational growth in asset prices and accurately predicting bubbles.

GUEST SPEAKERTuesday, August 23

AGENDA

MONDAY, AUGUST 22, 2016

8:00 am – 5:00 pm Registration

8:00 am – 9:00 am Continental Breakfast

9:00 am – 10:00 am Pre-Conference – Review of 2015 Funding Forum and Subsequent Research

Michael Kahn, NCPERS & IPPS

10:00 am – 11:00 am Welcome to 2016 Funding Forum Hank Kim, NCPERS

Rush to get into and struggle to get out of Defined Contribution Plans – The Case of West Virginia

David Haney, West Virginia Education Association

11:00 am – 11:15 am Break

11:15 am – 12:30 pm Advocating for Public Pensions Moderator: Clare Barnett, Connecticut

Teacher Retirement System Bailey Childers, National Public

Pension Coalition Bri Jones, Equality State Policy

Center, Wyoming Kris Masterman, Keep Oklahoma’s

Promises, Oklahoma

12:30 pm – 1:45 pm Lunch Session – Closing the Pension Funding gap - What’s Legal and what’s Not?

Moderator: Dana Dillon, CalSTRS Robert Klausner, Klausner Kaufman

Jensen & Levinson

1:45 pm – 2:45 pm Public Pension Funding Issues: Myths and Realities

Moderator: John Jensen, Chair IPPS Advisory Group

Keith Brainard, NASRA Leigh Snell, NCTR

2:45 pm – 4:30 pm Risk Management to Address Funding Issues

Moderator: TBD Gene Kalwarski, Cheiron Priya Mathur, CalPERS Tim Myers, Ohio STRS Rebecca Merrill, Texas TRS Deborah Spaulding, CT TRS

4:00 pm – 6:00 pm Registration

5:00 pm – 6:00 pm Welcome Reception

SUNDAY, AUGUST 21, 2016

Agenda Subject to Change

AGENDA (Cont’d)

TUESDAY, AUGUST 23, 2016

8:00 am – 9:15 am Continental Breakfast Session – A Trend Reversed: The Abandonment of Defined Contribution Plans in the Americas and Central and Eastern Europe

Moderator: Hank Kim, NCPERS Stephen Kay, Federal Reserve Bank

of Atlanta

9:15 am – 10:15 am Pension Reforms and Economic Volatility

Moderator: Hank Kim, NCPERS Teresa Ghilarducci, The New School Michael Kahn, IPPS & NCPERS

10:15 am – 11:15 am Investment Strategies to Close the Pension Funding Gap in Low Return Environment

Moderator: TBD Rafael Silveira, JP Morgan Dan Flanagan, Infrastructure

Investment Services Arun Muralidhar, Mcube Investment

Technologies

11:15 am – 11:30 am Break

11:30 am – 12:30 pm Panel Discussion: Closing the Funding Gap without Dismantling Public Pensions

Moderator: John Jensen, Chair IPPS Advisory Group

Susan Kennedy, Alabama Education Association

Richard Sims, Sierra Institute for Applied Economics

12:30 pm – 2:00 pm Lunch Session – Phishing for Phools: Economics of Manipulation and Deception – What does it mean for Public Pensions?

Moderator: Sharon Hendricks, Trustee CalSTRS

Robert Shiller, Yale University, Nobel Laureate in Economics

2:00 pm – 2:30 pm Closing Remarks and Next Steps John Jensen, Chair IPPS Advisory

Group Hank Kim, NCPERS Michael Kahn, NCPERS

Agenda Subject to Change

Omni New Haven Hotel at Yale University

155 Temple St | New Haven, CT 06510 | 800-916-4339

RESERVATION DEADLINE: Friday, August 5GROUP RATE: $199 single/double per night RESERVATIONS: 800-THE-OMNI (800-843-6664) and mention the “2016 Public Pension Funding Forum”ONLINE: www.NCPERS.org/fundingforum

HOTEL RESERVATIONS

TRANSPORTATION

Book your hotel room at the Omni New Haven Hotel at Yale University, official location for the 2016 Public Pension Funding Forum. Discounted rates are subject to availability of group block. Discounted rate may be available 3 days before and 3 days after actual conference dates, but are based on hotel’s availability.

OPTIONS FROM THE TWEED NEW HAVEN AIRPORTTaxi Service: Approximately $15 per way (maximum of three passengers)

OPTIONS FROM BRADLEY BRADFORD INTERNATIONAL AIRPORTTaxi Service: Approximately $100 per cabShuttle Service: $49 one way per way

OPTIONS FROM LAGUARDIA INTERNATIONAL AIRPORTTaxi Service: Approximately $180 per cabShuttle Service: Approximately $67 one way per person

OPTIONS FROM JFK INTERNATIONAL AIRPORTTaxi Service: Approximately $180 per cabShuttle Service: Approximately $67 one way per person

TRAIN STATIONUnion Station with train connections to Boston, New York and Washington, D.C. - 1 mile

www.omnihotels.com/hotels/new-haven-yale

REGISTRATION FORMREGISTRATION FEES

ATTENDEE INFORMATIONFirst Name: _______________________________________ Last Name: _________________________________________

Name of Your Organization: _____________________________________________________________________________

Address: ____________________________________________________________________________________________

City: _______________________________________________________________ State: _______ Zip Code: ___________

E-mail Address: ______________________________________________________________________________________

Telephone Phone: ____________________________________________________________________________________

GUEST INFORMATIONGuest Name: ________________________________________________________________________________________

CATEGORY Before August 5 After August 5 mTrustee Fund Participant/ Non-Profit Pension Advocate $600 per person $700 per person

mCorporate/Municipal Finance/Investment Industry Participant $1,050 per person $1,150 per person

mGuest (Spouse or personal friend only) $75 per person $100 per person

Complete registration form and fax to NCPERS at 202-624-1439

Complete registration form, include payment by check or credit card, and mail to:

NCPERS444 North Capitol Street, NWSuite 630Washington, DC 20001

CANCELLATION POLICYAll registration cancellations must be received in writing by August 5 to receive a refund and will be subject to a $50 processing fee. No refunds will be given after August 5. Please email your cancellation request to registration@ncpers.org or fax to 202-624-1439.

CREDIT CARDmAmerican Express mVisa mMasterCard

Credit Card #: ________________________________________________________________

Expiration Date: _________________ CC Verification Code: _____________________________

Name (as it appears on the card): _________________________________________________

CC Billing Address: _____________________________________________________________

Authorized Amount to Charge: $ __________________________________________________By submitting this form, I certify I have read and understand the terms of this registration. If paying by credit card, I authorize NCPERS to charge my card for the total amount indicated.

Signature: ____________________________________________________________________

Registration/Payment Questions?Contact NCPERS at 202-624-1456 or registration@ncpers.org

m Trusteem Administratorm State and Local Finance/Treasurer’s Officem Legislator

m Public Pension Advocatem Member of Municipal Bond Communitym Member of Investment Communitym Other, please specify: ____________________________

WHAT IS YOUR POSITION? (PLEASE CHECK ALL THAT APPLY)

PAYMENT & REGISTRATION METHODS

SPONSORSHIP FORM

Complete form and fax to NCPERS at 202-624-1439

Complete form, include payment by check or credit card, and mail to:

NCPERS444 North Capitol Street, NWSuite 630Washington, DC 20001

SPONSORSHIP CANCELLATION POLICYSponsorship is not confirmed until full payment has been made. Once confirmed by NCPERS, sponsorship commitments are non-refundable.

CREDIT CARDmAmerican Express mVisa mMasterCard

Credit Card #: ________________________________________________________________

Expiration Date: _________________ CC Verification Code: _____________________________

Name (as it appears on the card): _________________________________________________

CC Billing Address: _____________________________________________________________

Authorized Amount to Charge: $ __________________________________________________By submitting this form, I certify I have read and understand the terms of this registration. If paying by credit card, I authorize NCPERS to charge my card for the total amount indicated.

Signature: ____________________________________________________________________

PAYMENT METHODS

SPONSOR CONFIRMATIONFirst Name: _______________________________________ Last Name: _________________________________________

Name of Your Organization: _____________________________________________________________________________

Address: ____________________________________________________________________________________________

City: _______________________________________________________________ State: _______ Zip Code: ___________

E-mail Address: ______________________________________________________________________________________

Telephone Phone: ____________________________________________________________________________________

m Final Programm Program website (with link to your URL)m Sponsor Signage

m Final Programm Program website (with link to your URL)m Sponsor Signage

m Final Programm Sponsor Signage

m PLATINUM $10,000 The Platinum package level includes two (2) complimentary registrations and your logo displayed in/on:

m GOLD $5,000 The Gold package level includes one (1) complimentary registration and your logo displayed in/on:

m SILVER $1,000 The Silver package level includes your logo displayed in/on:

m Exposure in the public pension industry.m Build and reinforce strategic relationships.m Cost-effective brand awareness.

m Promote lead generation by showcasing your company.m Raise your profile, meet more people, do more business!

BENEFITS OF SPONSORING

National Conference on Public Employee Retirement SystemsThe Voice for Public Pensions

444 N. Capitol St., NWSuite 630Washington, DC 20001Phone: 1-877-202-5706Fax: 202-624-1439info@NCPERS.orgwww.NCPERS.org

The National Conference on Public Employee Retirement Systems (NCPERS) is the largest trade association for public sector pension funds, representing more than 550 funds throughout the United States and Canada. It is a unique non-profit network of trustees, administrators,

public officials and investment professionals who collectively manage more than $3 trillion in pension assets held in trust for approximately 21 million public employees and retirees — including firefighters, law enforcement officers, teachers, and other public servants.

Founded in 1941, NCPERS is the principal trade association working to promote and protect pensions by focusing on Advocacy, Research, and Education for the benefit of public-sector pension stakeholders…It’s who we ARE!