SPARK Forum 2019

Spark Forum Agenda

Sunday, November 3, 2019

8:00 am Golf Tournament – Golf Clubhouse

1:00 – 6:00 pm Exhibitor Setup – Ponce de Leon Ballroom

1:00 – 6:00 pm Conference Registration – South Loggia East

4:30 – 6:00 pm Pre-Conference Event: Women Taking Power Seriously – – Mediterranean Ballroom

Roberta Hess, CEO, Princeton Marketing (introductions)
Lisa Smith, SVP, Retirement Relationship Manager, Fidelity Investments (introductions)
Kathleen Kennedy Townsend, Director of Retirement Security, Economic Policy Institute

Kathleen Kennedy Townsend shares her personal story of trial blazing in politics, finance and reform. This interactive discussion will be moderated by Lisa Smith and Roberta Hess of Women in Pensions Network (WIPN). Men and women are welcome to join.

Register here for the WiPN event.

6:00 – 8:00 pm Welcome Reception with Exhibitors – – Ponce de Leon Ballroom

9:30 – 11:00 pm After Hours Networking – – Beach Club

Monday, November 4, 2019

7:00 am – 5:00 pm Conference Registration – South Loggia East

7:00 – 8:00 am Continental Breakfast with Exhibitors – – Ponce de Leon Ballroom

8:00 – 8:10 am Opening Remarks – Venetian Ballroom

Tim Rouse, Executive Director, SPARK Institute, Inc.

8:10 – 9:00 am An industry in transition: A conversation with Dick Darian – Venetian Ballroom

Peter Preovolos, President & CEO, PenChecks (introductions)
Philip Chao, Principal and CIO, Chao & Company, Ltd. (moderator)
Dick Darian, CEO, Wise Rhino Group

As we stand on the precipice of the largest single generation in U.S. history transitioning into retirement and reaching the lowest point of their human capital, the financial services industry is experiencing seismic shifts that will redefine how future products and services are designed, delivered and consumed. The obvious impact from this demographic shift is quite predictable on the retirement and asset and wealth management industries.

But this, otherwise orderly transition, has been disrupted by regulatory emphasis on fiduciary duties and the digital revolution; not to mention the ongoing fallout of the Great Recession resulting in the possible Japanification of our economy in compressing of returns and low yields for decades to come. These factors and changing client needs are resulting in revenue shrinkage, fee compression and value-examination. Mergers, acquisitions, tuck-ins, JVs, and startups are springing up across all segments in the financial services industry and everyone is in “search mode” for a path to survival and prosperity. The trend has been clear and many current players will cease to exist by 2025. This is even assuming no serious financial recession.

9:00 – 9:50 am BREAKOUT SESSIONS

SESSION A – The new world of investing – Venetian Ballroom

Chris DiPrimio, Director, BlackRock Systematic Active Equity Product Strategy
Vinitha Kaushik, Director, BlackRock U.S. & Canada Defined Contribution Investment Strategy
Tina Sanchez, Managing Director, Head of BlackRock U.S. & Canada Defined Contribution National Accounts

Changing markets, underperforming active strategies, more complex risk management and a focus on fees have complicated the selection of active strategies in DC plan menus. Plan sponsors need to budget risk across asset classes and understand how their active managers can generate persistent incremental excess returns to help achieve long-term retirement goals.

Hear from BlackRock’s experts on how the application of data and technology is turning insights into alpha and delivering a risk profile to meet DC plan participants evolving needs.

SESSION B – Cybercrime: protecting your firm against fraudsters & hackers – Mediterranean Ballroom

Bill Byerly, EVP & Global General Manager of Retirement Solutions, FIS (moderator)
Rick Floress, SVP, Risk Management, FIS
Larry Goldbrum, SVP, Director of ERISA Fiduciary Services, Retirement Strategies Group, Reliance Trust, An FIS Company

Fraudulent requests for participant distributions and loans are on the rise. Defending against these types of threats is extremely difficult making the need for strict internal controls paramount for plan providers. Panel discusses trends, triggers and best practices across the retirement and financial industry as organizations seek to minimize threats and develop strategies to protect participants’ assets.

9:50 – 10:20 am Break with Exhibitors – – Ponce de Leon Ballroom

10:20 – 11:10 am BREAKOUT SESSIONS

SESSION A – Global defined contribution: lessons from an international marketplace – Venetian Ballroom

John Mitchem, Principal, JM3 Projects (moderator)
Bob Collie, Head of Research, Willis Towers Watson
Michael Doshier, Senior DC Advisor Strategist, T. Rowe Price

All over the world, global aging and over-stressed government budgets are wreaking havoc on traditional pay-as-you-go government-financed pensions. Global aging and the challenge of providing lifetime income amid unprecedented longevity is a common challenge.

The United States is well-known worldwide for the scale, behavioral finance features and investment technologies built into the workplace savings system. But other defined contribution systems around the world boast features that the American system lacks. Two industry veterans will describe innovation from around the world as well as focusing on aspects of the U.S. system that are being emulated worldwide.

  • What are some of the best defined contribution practices being seen in the U.S., U.K., Australia and New Zealand?
  • What is the state of innovation with regard to record-keeping, operations and technology?
  • What is the quality of asset allocation and investment strategy?
  • How well are DC savings systems managing the shift from savings accumulation to drawdown?

SESSION B – Factoring in the human factor: key influencers on investor decisions in an evolving world – Mediterranean Ballroom

Philip Chao, Principal and CIO, Chao & Company, Ltd. (moderator)
Phillipa Healy, SVP, PIMCO
Brent Sheppard, Financial Advisor, Cadence Financial Management

We live in a world that’s increasingly social, interdependent and transparent. With various societal shifts and influences, it’s important that we understand the evolving investment needs and expectations of our clients and how we can evolve and remain relevant through the service and value we provide.

This session will dive into research findings on investors’ goals, their definition of performance and investment philosophy as well as what behavioral science is teaching us about investor decision-making. We’ll discuss how these insights can be addressed, including examples of what has been effective to date.

SESSION C – Digital differentiation: turning your plan sponsor website into a competitive advantage – Gold Room

Olivia Jack, Senior Analyst, Corporate Insight
Andrew Way, Director of Research, Corporate Insight

Plan sponsor digital capabilities are of increasing importance when an organization is determining which DC plan provider to work with. In an ever-evolving industry that is undergoing consolidation and increasing parity in terms of fees and investment lineups, digital capabilities will increasingly make or break recordkeepers’ business. In fact, according to data from Corporate Insight’s 2019 plan sponsor survey of 338 plan sponsors on a number of key items, including their digital preferences and usage of plan sponsor portals, the quality of the plan sponsor portal often has a greater impact on the choice of a recordkeeper than the quality of the participant digital experience. Not only is the sponsor site playing a role in the RFP process, but according to our survey data, sponsors are frequently engaging with the portal and view it as a crucial to fulfilling their job responsibilities.

In this session, retirement analysts Andrew Way and Olivia Jack from Corporate Insight will leverage their recent plan sponsor survey and research to discuss the following:

  • The growing importance of the digital plan sponsor experience from a business perspective for recordkeepers
  • Plan sponsor site usage and digital preferences of plan sponsors
  • Industry review – How the plan sponsor websites of leading recordkeepers meets—or fails to meet—the needs and preferences of plan sponsors
  • Best practices for designing a best-in-class plan sponsor digital experience

11:10 – 12:00 pm Retirement income: has the time come? – Venetian Ballroom

Snezana Zlatar, SVP PGIM DC Solutions, Prudential (moderator)
Jim Lyday, Managing Director, Pensionmark
Marc Pester, VP, Prudential Retirement
Jeremy Stempien, Principal, Portfolio Manager and Strategist, QMA

Retirement income is one of the most frequently discussed topics across our industry. Panel of experts will reflect on rising plan sponsor and participant demand, as well as on the broad spectrum of available solutions, their drivers and challenges. Topics include:

  • Demographic & regulatory drivers of increased interest in solving for retirement income
  • Participant lifetime journey: from accumulation and decumulation
  • Plan sponsor and consultant/advisor perspective: needs and challenges
  • Income solutions: yesterday, today, tomorrow

12:00 – 1:00 pm Lunch – Ponce 5/6

1:00 – 1:50 pm A fresh look at in-plan retirement income – Venetian Ballroom

Michael Shafer, Principal Client Relationship Executive, SS&C Retirement Solutions (moderator)
Scott Colangelo, Chairman, Prime Capital Investment Advisors
Matt Condos, VP, Lincoln Financial Group
Doug McIntosh, VP, Investments, Prudential Retirement

With the resurgence of interest in in-plan retirement income due to the SECURE Act, learn about why these products are important and how modern versions of these products work.

1:50 – 2:20 pm Break with Exhibitors – – Ponce de Leon Ballroom

2:30 – 3:20 pm BREAKOUT SESSIONS

SESSION A – Impact of new DOL announcements – Venetian Ballroom

Frank Porter, Assistant Vice President, Empower Institutional (moderator)
Terry Dunne, SVP, Managing Director, Millennium Trust Company
Frank Gregory, Senior Business Development Consultant, iraLogix
Peter Preovolos, President & CEO, PenChecks

The DOL is pressing recordkeepers and plan sponsors to find missing plan participants and the Treasury and the IRS are staring to give guidance on uncashed checks. Today, many recordkeepers and plan sponsors look to automatic rollover providers for solutions for missing participants and uncashed checks. Leading automatic rollover providers will discuss state of the art search efforts and the importance of reuniting participants with their retirement assets.

SESSION B – Securing the end-to-end email process – Mediterranean Ballroom

BJ Ralston, Senior Director of Risk Management & Compliance, SS&C Retirement Solutions (moderator)
Yalmore Grant, Director of Information Security, SS&C Technologies
Mike Hadley, Partner, Davis & Harman LLP
John Halperin, Engagement Lead, CISA

As the retirement industry continues to promote eDelivery it is essential that the email delivery process is trusted and secure. In this session we will have experts examine the latest methods for securing and protecting the email process.

SESSION C – CITs at the tipping point? – Gold Room

Rob Barnett, Group VP, Head of Intermediary Sales Distribution, Wilmington Trust
Jason Colarossi, VP, Head of Strategic Accounts, Franklin Templeton Investments
Kevin Murphy, SVP, Head of DC Strategic Accounts, Franklin Templeton Investments

CIT’s have become the fastest growing investment vehicle in retirement plans. This panel will discuss how CIT’s have reached the tipping point within the retirement industry. Other discussion topics include how CIT’s are evolving, advisor considerations when using CIT’s, and CIT myth vs. reality.

3:20 – 4:10 pm BREAKOUT SESSIONS

SESSION A – Blockchain applied to the U.S. retirement industry – Venetian Ballroom

Chris Brodersen, Blockchain Specialist Leader, Technology Group, Deloitte Consulting LLP
Denise Diana, SVP, Head of Client Management, Envestnet
Ronnie Kher, Director of Business Development – Insurance, R3
Tim Rouse, Executive Director, SPARK Institute, Inc.

SESSION B – Auto enrollment in the public sector – Mediterranean Ballroom

Chris Biddle, Executive Director, Kentucky Public Employees’ Deferred Compensation Authority
Matt Petersen, Executive Director, NAGDCA
John Saeli, Managing VP, Strategy Development & Implementation, ICMA-RC

Public and private sector plans have greatly increased participation and retirement savings through auto-enrollment and auto-escalation. A NAGDCA Study found that approximately half of the states prevent government DC plans from offering this beneficial feature. Hear from practitioners more about impediments to adopting how legislative efforts have increased access to this feature and about efforts to implement auto-enrollment and auto-escalation in governmental 457 plans.

SESSION C – Managing risk inherent in client transitions and platform conversions – Gold Room

Tim Scott, Partner, Enterprise Iron Financial Industry Solutions, Inc. (moderator)
Jeff Evers, Principal Consultant, Enterprise Iron Financial Industry Solutions, Inc.
Kevin Kilcarr, Senior Managing Director, Retirement Services, Enterprise Iron Industry Solutions, Inc.
Peter Lohri, Partner, Enterprise Iron Industry Solutions, Inc.

Does the thought of client transitions or a potential platform conversion keep your team up at night? Come meet with the Enterprise Iron team members as we lead a discussion of the challenges we have seen industry wide and dive into some of the approaches on how to manage your risk.

4:10 – 5:00 pm Upgrading HSAs: legislative & regulatory opportunities – Venetian Ballroom

Danny Streiff, VP, Strategic Partner Sales, HealthEquity
Bill West, SVP, Business Development and Legislative Affairs, HealthEquity

Health Savings Accounts were established in 2004. Healthcare has evolved but HSA’s have not. However, HSA’s have become the hottest and most popular tax advantaged account in the financial space. Lawmakers have begun to take notice and they are finally sprucing them up. Listen to Bill West and Danny Streiff introduce the proposed changes legislators are bringing to the Health Savings Account.

5:00 – 7:00 pm Reception with Exhibitors – – Ponce de Leon Ballroom

9:00 – 12:00 pm After Hours Reception with Live Band – – Beach Club

Tuesday, November 5, 2019

7:00 – 8:00 am Continental Breakfast with Exhibitors – – Ponce de Leon Ballroom

8:00 – 8:10 am Opening Remarks – Venetian Ballroom

Rich Linton, EVP of Group Distributions and Operations, Empower Retirement

8:10 – 9:00 am Geopolitics, trade & populism in this disruptive era—where are we headed? – Venetian Ballroom

Steven Malin, Adjunct-Full Professor of Economics and Public Administration, City University of New York (moderator)
John Emerson, Vice Chairman, Global Distribution, Capital Group International, Inc., Ambassador to Germany 2013-2017

What we have observed in the post GFC world is the unevenness of globalization. From a macro level, while the aggregated data shows that globalization has created significant opportunities and wealth while bringing billions out of poverty, the imbalance of the recovery, work place transitions driven by advances in technology and automation, and rapid cultural changes that accompany globalization have given rise to people, regions, and politicians challenging the status quo.

The voices of left populism (more socialistic) and right populism (more nationalistic) are voices of discontent, amplified throughout the echo chamber of social media, and demanding change. Moreover, the 4th Industrial Revolution, which threatens job security and replaces entire industries adds more fear and uncertainty in a warp speed world. The rise of China and the withdrawal of America from active global leadership may well give rise to conflicts that are not transitory. Finally, there is the question of the ability of the EU to hold together with Brexit, and the strength and resolve of the European community will surely be tested during the next recession.

The Ambassador will share his observations and insight about where the current path will lead us and will examine the question of whether things are really as bad as they seem.

9:10 – 10:00 am BREAKOUT SESSIONS

SESSION A – Financial wellness – Venetian Ballroom

Don MacQuattie, Head of Sales, Raymond James, Institutional Fiduciary Solutions (moderator)
John Dulay, Financial Advisor, Raymond James
Corey Dylengoski, Strategic Accounts, HealthView
Tara Fung, Vice President, CommonBond
Eugeny Prudchyenko, CEO and Co-Founder, EvoShare

“Financial wellness,” “participant wellness,” “outcomes” – each term is used in our industry on a daily basis, but their meaning is interpreted in different ways by different audiences. This session is designed to shed some new light on the overall concept of “wellness” in the retirement and benefits arena. The panel participants come from diverse segments of the industry and represent a wide array of viewpoints and perspectives on the topic.

SESSION B – Building retirement income into investment menus: best practices & innovative solutions – Mediterranean Ballroom

Tim Pitney, Managing Director, Institutional Investments Distribution, TIAA

The transition from saving for retirement to receiving retirement income creates an array of complex decisions for plan participants as they assess how to best maintain their quality of life. What is the philosophy adopted by plan sponsors in providing post-retirement tier options for their participants? What are some innovative solutions available today that can meet the needs of aging baby boomers, millennials and generations to come? Many plan sponsors are revisiting their investment menu to modify or introduce features that deliver retirement income options to their plan participants. Options suited for receiving income have different investment considerations given that participants have many unique circumstances and preferences. From rethinking existing options to considering new products such as those that provide income for life, this session will look at some innovative solutions plan sponsors are moving toward.

  • Lessons on lifetime income: 401(k) vs. 403(b) plans
  • Optimal choices for decumulation including annuitization, asset allocation and more
  • Considerations that will move the needle on annuities, whether in-plan or out-of-plan
  • Factoring retiree behavior into plan design

SESSION C – GAO discussion on cyber security for the U.S. retirement industry – Gold Room

Doug Peterson, CISO, Empower Retirement (facilitator)
Marisol Cruz Cain, Assistant Director, GAO
Brittni Milam, Senior Analyst, GAO
Brian Palmer, IT Analyst, GAO
Andrew Savisky, Senior Analyst, GAO
Shaunyce Wallace, Senior IT Analyst, GAO

The GAO has been asked by Congress to research cyber-security practices and issues within the US Retirement Industry. SPARK’s DSOB members and others are invited to an open discussion with GAO representatives to share their thoughts on how Congress and regulators can help strengthen our cyber security infrastructure. This roundtable discussion will be a wonderful opportunity to speak directly to policymakers and help guide legislative and regulatory direction in this critically important area.

10:00 – 10:30 am Break with Exhibitors – – Ponce de Leon Ballroom

10:30 – 10:50 am Break / Check Out

10:50 – 11:40 am US Chamber member perspectives on ARP – Venetian Ballroom

Ralph Ferraro, SVP, Head of Product & Solutions Management, Lincoln Financial Group
Chantel Sheaks, Executive Director, US Chamber of Commerce

Now that the DoL has provided its guidance on expanding Association Retirement Plans (ARP) we have invited a panel of U.S. Chamber of Commerce members to give us their perspectives. Since local Chamber of Commerce are in the best position to now offer these plans we want to hear from them about their intentions to setup ARPs and offer them to local businesses. If local Chamber of Commerce intend to set up ARPs and offer them to local employers, what plan features, services and investments are important to them? We hope this session will answer many of these questions.

11:40 – 12:30 pm Washington Update – Venetian Ballroom

Chris Gaston, Senior Policy Director, Davis & Harman LLP
Mike Hadley, Partner, Davis & Harman LLP

Davis & Harman LLP, The SPARK Institute’s outside counsel, will provide an up-to-the-minute update on activities in Congress including breaking retirement policy developments.