A Laserlike Focus on Strategic Asset Allocation, Risk Management and LDI

1. A Laserlike Focus on Strategic Asset
Allocation, Risk Management and LDI
May 19-21, 2010 • New York, NY • www.pensionplansummit.com
Coca-Coca Bottling Co.
Topics under discussion at the 2nd Pension
New York City Employee Retirement System Plan De-Risking Summit Include:
New York City Deferred Compensation Plan • Learning how to implement the right LDI approach for
GE Asset Management each defined benefit plan's specific needs, including
dynamic asset allocation strategies
Illinois State Board of Investment
• Dissecting what opportunities are available for corporate
Teacher Retirement System of Texas
and public pension plans and outlining the specific asset
American Express classes to consider allocating to over the next 18
Jacksonville (Fla.) Police & Fire Pension Fund
months
Pension Protection Fund (UK)
• Examining hedge fund liquidity, due diligence, risk
management, fee structure and transparency
APG All Pensions Group (Netherlands)
• Discussing how pension schemes in different countries
Pensionenfonds KBC (Belgium) are approaching strategic asset allocation
City of Aurora (Colo.) Police Money Purchase
Plan
Illinois Public Pension Fund Association
Defined contribution plans have been deeply
New Orleans Employees Retirement System impacted by the tumultuous economy over the past
two years. The Defined Contribution Plans
TIAA-CREF
New! Seminar taking place on May 19 is designed to equip
401(k), 457 and 403(b) plan executives with the tools
Defined Contribution Institutional Investment
Association they need to address employee education and plan
investment challenges.
PIMCO
Ehrentreich LDI Consulting & Research
Winston & Strawn
Investment Governance, Inc. Sponsors
United Benefits and Pension Services, Inc.
NEPC
Media Partners
1-800-882-8684 | www.pensionplansummit.com

2. A Laserlike Focus on Strategic Asset
Allocation, Risk Management and LDI
May 19-21, 2010, New York, NY • www.pensionplansummit.com
Dear Colleague,
Attend and Network with:
The environment for pension plan
s has changed substantially and the • CIOs at Corporate and Public
strategic asset allocation, enterpris need for
e risk management, and advanced Pension Funds
diversifying portfolios certainly rem strategies for
ain strong. The 2nd Pension Plan De-R • Executive Directors
Summit is the premier conference isking
designed to inform corporate and • Heads of Alternative Investments
plan executives on the latest in strat public pension
egic asset allocation and risk man Directors of Investment
agement. •
Taking place in New York from May • Managing Directors at Mutual Fund
19-21, 2010, the 2nd Pension Plan Companies
Risking Summit is the perfect plat De-
form for corporate and public DB
from their plan sponsor peers, lead plans to hear • Senior Vice Presidents at Insurance
ing policymakers and top investme Companies
Attendees will share ideas through nt executives.
tailored interactive roundtables, ben
their DB plans through case studies, chmark • Portfolio Managers at ETF Providers
and network with fellow plan spon
investment professionals. sors and • Senior Investment Consultants
• Benefits Managers at 401(k) Plans
In addition to our two-day conferen • Executive Directors at 457 Plans
ce, we are holding a pre-conferen
Contribution Plans Seminar. We ce Defined
are gathering experts to discuss and • Senior Portfolio Managers
guidance on the latest in participa provide
nt education programs, target-date
and investment challenges. fund options,
Please take a few minutes to read
through the agenda, and visit the
www.pensionplansummit.com-for website-
the latest information on addition
al speakers. Sponsorship and
I look forward to meeting you in New
Exhibition Opportunities
York this May!
Sponsoring or exhibiting at the 2nd
Kind regards, Pension Plan De-Risking Summit and
Defined Contribution Plans Seminar
, our is an excellent opportunity for your
P.S. Don t miss dtables company to showcase its products
and services to an audience of
Jenna Gottlieb
interactive roun nce institutional investors. For more
2nd Pension Plan De-Risking Sum
mit and pre-confereage 6 for information on sponsoring or
exhibiting at this or upcoming
Program Director
seminar! See p offers events, please call Mario Matulich on
special pricing
T : 212-885-2754 212-885-2719 or e-mail
jenna.gottlieb@iqpc.com mario.matulich@iqpc.com.
2 1-800-882-8684 | www.pensionplansummit.com

3. Pre-Summit Seminar
Wednesday May 19, 2010
Defined Contribution Plans--Navigating Participant Education and Investment Strategies
10:30 Registration For the Seminar and Networking 1:50 Communicating to Participants and Managing
With Sponsors And Delegates Expectations
• Reviewing the methods of communication plan sponsors use to
relay plan investment information, without stepping over the
11:10 Avoiding Common Investing Pitfalls for DC Plan line into investment advice
Participants • Learn how to tailor your company’s education efforts when
• Examining the critical mistakes that prevent employees from times are tough, through targeted programs like Dave Ramsey’s
achieving a secure retirement and the solutions to overcome Financial Peace University
those • Taking a holistic view of savings to provide plan participants
• Catching when participants invest in multiple target-date funds with the tools they need to achieve their retirement goals
• Avoiding the risks of inflation, market volatility, and an
Kurt Hollar
extended lifespan
Director-Benefits
Georgette Gestely Coca-Coca Bottling Co.
Director
New York City Deferred Compensation Plan
2:40 Networking Break
12:00 Networking Luncheon
3:10 Fee Disclosure and Transparency for DC Plans
• Detailing new investment products that do not engage in
1:00 Next Generation Target-Date Strategies revenue sharing practices
• Outlining the advantages of implementing customized target • Comparing active and passive fee structures in DC plans
date fund strategies including investment manager flexibility • Discussing the legislative and regulatory developments that are
and fiduciary oversight affecting DC plan sponsors, and the growing interest in the
• Designing optimal glide paths to reach retirement income and transparency of fees and expenses
risk management targets
Lew Minsky
• Selecting asset classes beyond stocks and bonds to heighten
Executive Director
diversification within strategies
Defined Contribution Institutional Investment Association
• Hearing case studies of large plan sponsors that continue to
evolve their customized solutions
Stacy Schaus 4:00 “Inconvenient Truths” About 401(k) Plans
Senior Vice President, Defined Contribution Practice • Considering tripling the employer contribution to equal 9% of
PIMCO pay as is the case in Australia
• Discussing how plan sponsors could best help employees reach
Barbara Kontje
the their retirement goals including communicating how much
Director of Retirement Plan Investments
employees need to contribute based on when they started saving
American Express • Addressing that few investment managers incorporate
Marla Kreindler international equities into passively-managed target-date funds
Partner despite the high returns achieved during the past decade
Winston & Strawn
Jane White
Ross Bremen Author
Partner “America, Welcome to the Poorhouse”
NEPC
4:45 Chairman’s Closing Remarks and End of Seminar
For speaking and sponsorship opportunities, please contact
Jenna Gottlieb at 212-885-2754 or jenna.gottlieb@iqpc.com
3 Sponsors:

4. Main Summit Day 1
Thursday May 20, 2010
Strategic Asset Allocation: Discussing Diversification, Alternatives, and LDI
7:30 Registration & Coffee 11:45 Re-evaluating Strategic Asset Allocation and
Portfolio Construction
8:00-10:00 Breakfast Workshop: The Asset Return– • Analyzing portfolio construction and investment themes, and
Funding Cost Paradox: The Case for LDI determining where costly mistakes/significant gains were made
• Dissecting what opportunities are available for corporate and
In spite of their risk-reducing aspects, plan sponsors often hesitate to
public pension plans and outlining the specific asset classes to
adopt LDI strategies because of perceived higher funding costs. In this
consider allocating to such as private equity and real estate
workshop, Dr. Norman Ehrentreich will address these concerns by • Hearing about a portfolio that recently shifted to a liability-
introducing the Asset Return–Funding Cost Paradox. He will show that
driven investment model and how the investment staff
the link between higher average returns and lower funding costs tends
weighed the pros and cons
to break down in the US and Canada. Lower returning LDI strategies
are likely to result in lower funding costs in the long run. Susan Mangiero
President and CEO
What you will learn:
Investment Governance, Inc.
• Understanding how current pension regulations induce plan
sponsors to violate the requirements to convert an equity risk
12:30 Networking Luncheon
premium into lower funding costs
• Learning which plans are more likely to experience this Asset
1:30 Asset Class Spotlight: Interactive Roundtable
Return–Funding Cost Paradox and discussing why geometric
Discussions
average asset returns are an inappropriate measure of past
The Pension Plan De-Risking Summit’s Asset Class Spotlight is a
investment success
great opportunity for you—the plan sponsor—to get a better
• Hearing how funding costs are path-dependent on the specific
handle on some of the alternative asset classes that may be of
return sequences and learning about reverse dollar cost averaging
interest to you. Each roundtable discussion lasts 50 minutes, and
How you will benefit: is led by an expert in that particular field. The uniquely informal,
• A better appreciation of the risk and cost implications of LDI offline format of the spotlight session enables you to brainstorm
strategies will ease common concerns against them with your peers regarding the suitability of that particular asset
• Why equity heavy strategies are to be considered short term class for your investment portfolio. Alternative asset classes under
strategies and LDI strategies not the spotlight include:
• Understand how the well-known risk-return relationship can turn • Private Equity
into a risk-penalty relationship and why pension plans in the U.S. • Emerging Markets
are likely to increase their long-term funding costs by investing in • Commodities
equities. • TIPS
• Timberland Investments
Norman Ehrentreich • Corporate Bonds
Owner • Infrastructure
Ehrentreich LDI Consulting & Research
2:20 International Pension Funds on Strategic Asset
9:00 Registration & Coffee
Allocation
• Reviewing the latest on strategic asset allocation trends from
10:15 Chairperson’s Opening Remarks
large public and corporate European funds
• Hearing case studies from European pension funds that have
10:30 Lessons Learned: How the 2008-2009 Economic
implemented an LDI strategy and dissecting what lessons can
Landscape Impacted Pension Plan Investment
be learned for U.S. plans contemplating a similar strategy
Strategies • Discussing how pension schemes in different countries are
• Pinpointing the asset classes that suffered the biggest losses
responding to investment issues
over the past two years
• Learning how to shift portfolios from outdated investment Martin Clarke
strategies to asset allocations that will better meet set Executive Director-Financial Risk
investment objectives Pension Protection Fund (UK)
• Weighing how the need for liquidity impacts alternative
investment decisions Onno Steenbeek
Director Corporate ALM and Risk Policy
Jerry Davis
APG All Pensions Group (Netherlands)
Trustee and Board Chairman
New Orleans Employees Retirement System Edwin Meysmans
Director
11:20 Networking Break Pensioenfonds KBC (Belgium)
4 1-800-882-8684 | www.pensionplansummit.com

5. Main Summit Day 1 ...continued
3:10 Afternoon Networking and Refreshment Break 4:30 Best Practices: Investment Manager Selection
featuring The Brilliance Bar • Addressing how search and hire activity has changed in light of
the financial crisis and rebounding economy
Have questions? We’ve got answers. Providing you with • Examining popular mandates defined benefit plans have out on
two new tools to solve today’s most critical challenges…
the market including managers for TIPS and active domestic
Step up to our Brilliance Bar! growth equity funds
• Learning how to affordably replace an investment manager
There’s no question too big or small. The Brilliance Bar
without losing assets if expectations are not met
will be staffed with members of our speaker faculty and who will
make themselves available during specific breaks to offer advice to John Sopranuk
your most pressing concerns. The Brilliance Bar provides you with President, Board of Trustees
an additional opportunity to ask the questions that are left City of Aurora (Colo.) Police Money Purchase Plan
outstanding after the sessions have concluded.
5:20 End of Summit Day 1
3:40 ESG Investing Thriving in Rebounding Economy
• Reviewing how corporate governance and climate-based issues
affect long-term portfolio performance
• Analyzing how manager skill, investment style and time period,
is integral to how ESG factors translate into investment
performance
• Hearing a case study of how a pension fund recently
incorporated an integrated ESG strategy
Mike Musuraca
Former Trustee
New York City Employees Retirement System
Main Summit Day 2
Friday May 21, 2010
Strategic Asset Allocation: Discussing Diversification, Alternatives, and LDI
8:00 Registration & Coffee 9:50 The Future of LDI and What it Means for Your DB
Plan Today
8:45 Chairperson’s Opening Remarks • Reviewing what regulatory changes are on the horizon
• Discussing what new products and services are needed to help
9:00 Sustainable Pension Fund Investing Through LDI pension plans implement LDI strategies
• Learning how to implement the right LDI approach for each • Hearing the way that US pension plans have changed their
defined benefit plan's specific needs, including dynamic asset views on LDI and their plans for implementation in the wake of
allocation strategies market developments over the past two years
• Comparing the various LDI implementation choices and
Emily Reid
addressing the challenges of diversification, volatility, and the
Chief Compliance Officer
role of physical securities versus synthetics
Illinois State Board of Investment
• Weighing the risks associated with implementing an LDI
strategy, and learning how those risks could be mitigated
10:40 Networking Break
• Explaining how an LDI program should be monitored, and how
its performance could be measured
A Laserlike Focus on Risk Management, Corporate
Norman Ehrentreich Governance and Volatility
Owner
Ehrentreich LDI Consulting & Research 11:10 Keynote Address: “The Good Pensions Have Gone
Away: Must Americans Change Their
Expectations?”
Thomas J. Mackell, Jr.
Chairman, United Benefits and Pension Services, Inc.;
Former Chairman, Federal Reserve Bank of Richmond
5 Sponsors:

6. 11:40 Using Alternatives to Manage Volatility: 2:20 Public Pension Fund Perspectives on De-Risking
Opportunities and Challenges Ahead and Diversification
• Discussing how institutional investors view alternatives now • Addressing the unique liability challenges faced by public
and how they are integrating these investments into their defined benefit plans
portfolios • Taking a look at popular assets classes for 2010, including
• Examining hedge fund liquidity, due diligence, risk emerging markets, active TIPS and international small-cap
management, fee structure and transparency funds
• Hearing about where some of the top fund of funds are • Understanding, monitoring and managing the risks associated
investing, what types of strategies are hot and which are with portfolio diversifiers like infrastructure and timberland
unlikely to recover investments
Sheryl Schwartz James McNamee
Managing Director, Alternative Investments President
TIAA-CREF Illinois Public Pension Fund Association
Dory Wiley John Keane
Chairman of the Alternative Assets Committee Executive Director
Teacher Retirement System of Texas Jacksonville (Fla.) Police & Fire Pension Fund
12:30 Networking Luncheon 3:10 Networking Break
1:30 Pension Plan Asset Allocation: The GE Perspective 3:40 Creating an Effective Risk Modeling Framework
• The Strategic and Tactical Asset Allocation Process • Identifying appropriate hedging products for DB plans including
• Keys to an Effective Tactical Asset Allocation Effort corporate bonds
• Lessons Learned from the Recent Market Crisis • Navigating the most effective risk assessment methodologies
such as scenario analysis
Jay Ireland • Creating a comprehensive risk management strategy for your
President and CEO pension fund
GE Asset Management Jimmy Yan
General Counsel at Manhattan Borough President's Office and
trustee at New York City Employee Retirement System
4:30 Close of Conference
About Our Sponsors
Norman Ehrentreich, Ehrentreich LDI Consulting & Research
Dr. Norman Ehrentreich is a leading industry expert and thinker on liability driven investment strategies. His research on LDI
has led him to propose the existence of an Asset Return – Funding Cost Paradox for DB pension plans. Contrary to
conventional wisdom, this paradox posits that pension plans in the US with LDI strategies are likely to experience lower
funding costs than those that have higher returning, but more volatile equity strategies.
In 2009 he founded Ehrentreich LDI Consulting & Research in an attempt to foster the adoption of LDI strategies among
corporate and public pension plans. In doing so, his focus is on developing better research on the theory of liability driven
investing and to lobby for structural pension reform to improve the regulatory framework in which pension plans are
currently operating in.
PIMCO is among the largest managers of fixed income assets in Defined Contribution plans with over $130 billion under
management as of December 31, 2009. Based in Newport Beach, California, our DC Practice is dedicated to promoting
effective DC Plan design and innovative retirement solutions. PIMCO manages fixed income, inflation protection, collective
investment trust funds (CITs) and asset allocation strategies for our DC clients. We also provide custom target date glide
path management and support. Our team is pleased to support our clients and broader community by sharing ideas and
developments in DC plans in the hopes of fostering a more secure financial future for employees of corporations, not-for-
profits, governments, and other organizations. If you have any questions about the PIMCO DC Practice, please contact your
PIMCO representative or email us at pimcodcpractice@pimco.com.
Media Partners
6 1-800-882-8684 | www.pensionplansummit.com

7. A Laserlike Focus on Strategic
Asset Allocation, Risk 5 EASY WAYS TO
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