2 0 1 1
A N N U A L
PUBLIC
8th
C O N F E R E N C E
PENSION
ANNUAL
FINANCIAL
P R O G R A M
FORUM
CONFERENCE
Mountains of Change and a Sea of Opportunity
PORTLAND,
OCTOBER
OREGON
2-5,
2011
Public Pension Financial Forum 8th Annual Conference
TA B L E O F C O N T E N T S
About P2F2
1
Letter from the Portland Mayor
2
Letter from the P2F2 President
3
CPE Information
4
Conference Information
5
Hotel Information
6-7
Get to know Portland
8-9
Conference Events
10
Session Schedule
11-15
Session Descriptions
16-25
Meet the Speakers
26-39
Sponsor Recognition
40
P2F2 Board and Committees
41
Portland, Oregon • October 2-5, 2011
G E N E R A L I N F O R M AT I O N
About P2F2
Public Pension Financial Forum (P2F2) is the only professional organization specifically organized for and by public pension
finance professionals. It was designed so that all finance-related employees of public pension systems would have a forum
that specifically provides a platform for professional growth, education and networking.
The goals of P2F2 are to:
■
Promote excellence in public pension plan financial operations;
■
Provide educational programs of interest to membership;
■
Promote the exchange of best practices and ideas for financial operations and reporting between public
pension plans; and
■
Foster sound principles, procedures and practices in the field of public pensions related to financial operations.
After determining a true need for this organization, founders of P2F2 formed the entity in 2004. The need was real and
participation exceeded expectations. Today, P2F2 has approximately 170 members representing nearly 100 different pension
systems.
About our 2011 conference — Mountains of Change and a Sea of Opportunity
This conference theme is especially apropos of the nation’s economic landscape and that of our host city, Portland, Oregon.
Just as Portland is between the mountains and the sea, many of us are caught between mountains of change and a sea of
opportunity as the political and taxpayer landscape shifts dramatically potentially affecting the business of pensions. Here’s
your opportunity to help determine if the changes will shake your foundation or help you emerge with renewed resolve. It’s
especially important for public pension professionals to gather together to showcase and discuss best practices so that all
public pension plans can learn to identify and create fiscally sound opportunities—helping to ensure our members can benefit
from the secure retirement to which they have contributed.
As has become tradition, the P2F2 annual conference for 2011 has been designed to offer an educational focus in three
separate tracks:
■
General Accounting
■
Investment Accounting
■
Employer Reporting
Beyond the considerable number of educational sessions offered, the P2F2 conference provides ample time for informal
networking—giving attendees time to exchange ideas and take a deeper dive into information presented in formal sessions.
Most presenters have graciously allowed extra time to participate in social activities to be available for attendees, so we hope
you’ll take advantage of this sea of opportunity.
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Office of Mayor Sam Adams
City of Portland
September 30, 2011
Dear P2F2 Conference Attendees,
Thank you for considering Portland, Oregon, for the 8th Annual Conference. I know that the
Public Pension Financial Forum has many destinations from which to choose. It's exciting to
know that “The City of Roses” reached your list of top prospects.
Portland's attributes have garnered a lot of positive attention recently. Budget Travel deemed
the city one of the “Top Budget Travel Destinations for 2010.” Beating out international
competition, Portland made Travel + Leisure's 2009 list of the World's Top 10 Biking Cities.
And our cultural side was acknowledged by AmericanStyle magazine, which listed Portland as
one of its "Top 25 Arts Destinations in America" in 2009.
I can assure you that these are not empty platitudes. Portland has worked hard to nurture
the arts, to encourage eco-friendly practices and ideas, to encourage innovative public transit, to support the chefs and winemakers of our region, and to protect and preserve the city's
surrounding natural beauty.
We hope you'll soon have the pleasure of experiencing this firsthand. And we look forward to
welcoming Public Pension Financial Forum to Portland.
With warm regards,
Sam Adams
Mayor
1221 SW Fourth Avenue, Suite 340
(503) 823-4120 u FAX (503) 823-3588
u
u
Portland, Oregon 97204-1995
TDD(503) 823-6868
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2
u
www.portlandonline.com/mayor/
October 2, 2011
Dear P2F2 Conference Attendee:
It is my pleasure to welcome you to the 8th Annual Public Pension Financial Forum Conference
in Portland, Oregon. The Board and the Conference committees have worked hard to bring
you sessions that are informative and invigorating. The sessions are designed to give you a
chance to ask questions that relate to your specific pension plan. Whether this is your first
time or 8th time, the contacts you will meet will prove valuable in the years to come as we all
wrestle with the future trends and challenges in public pension finance.
Portland is a beautiful city with local attractions of gardens, museums, book stores and shopping, many within walking distance. The Monday dinner (which was included in your registration) should be a special treat at the Skamania Lodge with a tour of Multnomah Falls and the
stunning Columbia River Gorge.
Since we are a volunteer organization many kudos need to go out to the people who put this
together. Dave DeJonge was responsible for putting together the logistics, brochures, hotel
arrangements and many other activities that enable this conference to happen. Karen
Carraher was responsible for the sessions and speakers. Michelle Nix was in charge of the
Sponsorship committee. Without our sponsors, we would not be able to have this conference,
so please take time to thank our sponsors for their donations. Gail Strohl ran the Publicity
committee. Rhonda Covarrubias and Debra Hembree (along with help from Dale Orr before he
retired) co-chaired the Hospitality committee. Thanks also to Oregon PERS for hosting the
conference this year.
In closing, welcome to Portland! I hope you have a wonderful and enlightening time here.
It is often repeated, but as this is your conference, please give some thought to what sessions
you would like for next year. We try to repeat some sessions every few years, but there is always
room for new ideas.
Luke Huelskamp
P2F2 President
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Public Pension Financial Forum 8th Annual Conference
G E N E R A L I N F O R M AT I O N
CPE Information
Sessions will be presented in a group-live format. All sessions are intended as an overview or update in connection with the
related topics. There are no prerequisites and no advanced preparation is required for attendance at any session.
You may earn up to 26 continuing professional education (CPE) units by attending the 2011 P2F2 conference. P2F2 is
registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional
education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of
individual courses for CPE credit. Concerns regarding registered sponsors may be addressed to the National Registry of CPE
Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417.
Website: www.nasba.org.
Monitoring Attendance
In keeping with the requirements set forth by the NASBA, P2F2 tracks attendance. At registration you will receive tickets to
claim CPE credits. You will need to sign the relevant ticket for each session and turn it in at the end of each session
to claim credit for the session. P2F2 will use these tickets to verify your educational session attendance against the CPE form
you turn in at the end of the conference. Your approved form will be sent to you approximately one month after the
conference.
For more information regarding other P2F2 administrative policies such as refunds, complaints, and cancellations, please
contact Nancy Mikola at (614) 222-5601 or via email at nmikola@opers.org.
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C O N F E R E N C E I N F O R M AT I O N
Attire
P2F2 Membership/Conference Fee Information
Business casual attire is appropriate for the conference. We
encourage comfortable shoes. Meeting room temperatures vary (as
does Oregon weather in October), so a sweater or jacket for sessions
and evening events is recommended.
The membership fee for 2011 is $150. Membership eligibility:
Membership is open to any employee of a public pension system.
■
The conference fee for P2F2 members is $275 if registered on or
before September 2, and $350 if registered after September 2.
Special Assistance
■
The conference registration fee for government employees who are
not eligible for P2F2 membership is $350 if registered on or before
September 2, and $425 if registered after September 2.
■
The conference registration fee for corporate attendees is $3,000 if
paid on or before September 2 and $3,500 if paid after September 2.
When you register at the conference, make any special requests for
assistance known with the greeters at the conference registration
table. Each has been briefed on how to handle special needs.
Dietary Requests
Conference staff tries to accommodate special meal requests.
If you have a special request, you must let us know prior to the
conference—remember, conference meals are ordered well before
the conference. Attendees who notify us about food allergies or
dietary restrictions with their registration will have meals based on
their dietary needs. Special meal requests received onsite cannot be
guaranteed.
The P2F2 registration form is available at www.p2f2.org.
Cancellation Policy
Refunds will be issued upon written notification received on or before
September 26, 2011. Refund requests received after September 26 will
be honored, but will be subject to a $75 late-cancellation penalty. Please
address your cancellation request to:
Nancy Mikola
OPERS
277 E. Town St.
Columbus, OH 43215
or via email at nmikola@opers.org.
People with Disabilities
Need special assistance? Please inform Dave DeJonge at (651) 2012641 or via email at dave.dejonge@mnpera.org. Any information
regarding your disability will remain confidential. Accommodations
may require early planning, so please make your requests known as
soon as possible.
PowerPoint Presentations
Presentations will be available on the P2F2 Web site (www.p2f2.org)
before the conference. Presentations will also be available on a flash
drive; distributed to you at the conference. Hard copies will not be
distributed at the conference.
Registrant List
Registration lists are provided as a service for conference attendees,
offering a convenient way to network with colleagues. The
information may not be used for any promotional purposes.
A list of attendees will be included in the registration materials.
No Smoking Policy
For the comfort and health of all attendees, smoking is not permitted.
Responsible Drinking Policy
Networking at receptions and social events is important. However,
attendees are encouraged to remember P2F2 is a professional, not a
social, organization. Attendees who choose to drink are encouraged to
drink responsibly. Nonalcoholic beverages will be provided at all
functions. Alcohol will not be served to anyone under 21.
Cell Phone/PDA Policy
As a courtesy to speakers and other attendees, please refrain from the
use of cell phones and/or other communication devices during presentations. We ask that you kindly turn off your phone/PDA or set it to
vibrate. It’s always best to leave a session if you need to answer a call.
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H O T E L I N F O R M AT I O N
About The Benson Hotel
Since opening in 1913, The Benson Hotel in Portland has graciously
welcomed celebrities, CEOs and U.S. presidents. Now P2F2 attendees
will discover the timeless beauty of this landmark hotel featuring Italian
marble floors, Austrian crystal chandeliers, and Circassian walnut from
the imperial forests of Russia. Now on the National Register of Historic
Places, The Benson is a Portland landmark located in the heart of
downtown Portland.
Beyond The Benson, Portland’s best awaits. The Benson Hotel is
within easy walking distance of restaurants, theaters, entertainment,
and many of the sights including the Portland Japanese Garden,
Pioneer Courthouse Square and the Pearl District. Although the
hotel’s location is near several parks providing walking, biking and
hiking opportunities, you’ll have to force yourself to leave the
hotel—a destination worthy of the trip.
Directions from the Portland International
Airport
Follow Airport Way to I-205 South. Take I-205 South to I-84 West.
From I-84 West, take the City Center/Morrison Street Exit. Continue on
SE Morrison Street over the Morrison Bridge. Turn right on SW Second
Avenue. Turn left on SW Oak Street. Turn left on SW Broadway.
The Benson Hotel is on your right (309 Southwest Broadway).
See the Discover Portland section of this brochure for additional sites to
see and things to do near the hotel.
Hotel Rate and Reservations
P2F2 planners have negotiated a conference room rate of $138 plus
tax/single occupancy and $178 plus tax/double occupancy. Rate
includes a breakfast voucher for each occupant. Rates effective
September 30—October 6. Reservations should be made 30 days in
advance to guarantee rate and availability. Tax is 12.5%.
Reservations can be made by calling 1-888-523-6766 or 503-228-2000.
Hotel Amenities
The Benson Hotel provides for guests:
■ High-speed wireless Internet access (in-room and lobby)
■
24-hour fitness center
Transportation Options
■
Full breakfast for each overnight guest
■
■
24/7 business center
Airport transportation is available through Blue Star for $14 per
person/one way. Travel time is 30 minutes. See
www.bluestarbus.com for more information.
■
The MAX light rail train departs from baggage claim and drops
you off at Pioneer Square, just four blocks from The Benson
Hotel, for $2.35 per person/one way. Travel time is 40 minutes.
■
Taxis are available at the airport and the hotel and will cost
about $40 each way, taxis may be shared.
Guest rooms include a coffee maker, hair dryer, iron and ironing
board, clock radio with MP3 iPod dock, and cable TV.
Valet parking is available at $27 per 24-hour period, which includes
unlimited in-and-out privileges.
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H O T E L I N F O R M AT I O N
The Benson Hotel Floorplan
The Benson Hotel main lobby
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D I S C OV E R P O RT L A N D
Get to know Portland
Regardless of your interests, you’ll find your passion in Portland.
From gardens to art; zoo to shopping; architecture to hiking; biking to
books, this city has it all. We’ve found just a few things to occupy
your time when not in conference sessions. Take a look…
Japanese Gardens
Discover Portland’s Japanese Gardens, acres of serenity featuring
five distinct garden styles. The Japanese culture designs gardens to
generate a sense of peace, harmony, and tranquility. To enter this site
is to experience the feeling of being a part of nature. The gardens
feature stone, water and, of
course, plants. Additionally,
you’ll see pagodas, stone
lanterns, water basins,
arbors, and bridges—all
designed on a human
scale so that visitors always
feel to be part of the
environment, not
overpowered by it.
Pioneer Place
700 SW Fifth Avenue
Pioneer Place mall keeps Portland jumping—featuring four city blocks of
tax-free shopping, it’s a fashionista’s fantasy. www.pioneerplace.com
The Pearl District
Once a decaying warehouse area, the Pearl District is now Portland's
premier urban-chic neighborhood. Considered to be the ultimate in
urban living, this destination neighborhood features stylish boutiques,
specialty retailers, grocery and book stores, up-and-coming art galleries,
and trendy restaurants. Come. Ramble on your own. Enjoy.
www.explorethepearl.com
Lan Su Classical Chinese Garden
239 NW Everett Street
Considered to be one of Portland’s greatest treasures, Lan Su Chinese
Garden immerses you into the Chinese culture, history and way of
thinking. A thing of beauty, ever changing with the seasons. Enter the
wonderland. www.lansugarden.org
Powell’s City of Books
1005 W. Burnside
Pioneer Courthouse Square
Love to read? Put this on your must-do list. Located in the Pearl
District, Powell’s City of Books is a book lover's paradise, the largest
used and new bookstore in the world. Located in downtown Portland,
Powell’s is an entire city block of books—more than a million. Make sure
you grab a map; it’s easy to get lost in this city within the city.
www.powells.com
Pioneer Courthouse Square—the single most visited site in
Portland—is located in the heart of downtown Portland and hosts
more than 300 programmed events each year. Visitors never know
what will be featured, but you’re sure to see something to delight,
inspire or inform. Stroll around Courthouse Square and become
one of the 26,000 people visiting the Square each day.
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D I S C OV E R P O RT L A N D
Oregon Museum of Science and Industry
(OMSI)
Portland Art
Museum
1945 SE Water Avenue
1219 SW Park Avenue
From the sun, the moon and the stars to the depths of the oceans, this
Founded in 1892, the Portland
museum provides visitors with the opportunity to explore a
Art Museum is the seventh
planetarium, thrill to the Omnimax theater experience or enter the USS
oldest museum in the U.S.
Blueback, a decommission U.S. Navy submarine. www.omsi.edu
and the oldest in the Pacific
Oregon Zoo
4001 SW Canyon Road
Since the 1800s, the
Oregon Zoo, located in
Portland, has been on
the cutting edge of
conservation and
preservation. Visitors will see amazing replicas of extreme habitats
from underwater kelp forests to an alpine mountain area. The array of
animals encircles the globe from black bears to bobcats; bald eagles
and Coho salmon; beaver dens and river otters (they really do frolic).
You’ll also see cougars, gray wolves, elks, lions and tigers and leopards
Northwest. From the first
acquisition in 1895 to the donation of Vincent van Gogh’s The OxCart in 2007, the museum’s extensive collection has grown to include
thousands of works. Today, the museum has a collection of more than
42,000 objects, displayed in 112,000 square feet of galleries and
reflects the history of art from ancient times to today. The collection is
distinguished for its holdings of art of the native peoples of North
America, English silver, and the graphic arts.
www.portlandartmuseum.org
International Rose Test
Garden
400 SW Kingston Avenue
and bears—oh my!
In 1888, Georgiana Burton Pittock, wife
If it sounds like too much, this zoo features three separate train rides
of pioneer publisher Henry Pittock (see
to help maximize your time. www.oregonzoo.org
information about the Pittock Mansion),
Pittock Mansion
3229 NW Pittock Drive
invited her friends and neighbors to exhibit their roses in a tent set up
in her garden. The Portland Rose Society’s annual show was begun. In
the early 1900s, Portland had 20 miles of rose-bordered streets and
A house of historical significance and visual brilliance, the Pittock
was dubbed the City of Roses. Building on that tradition, in 1917,
Mansion offers an opportunity to make the past come alive. The
Portland’s International Rose Test Garden was established and is the
mansion was planned and built from 1909-1914 and incorporates
oldest official, continuously operated public rose test garden in the U.S.
Turkish, English, and French designs— executed by Oregon craftsmen
Today, visitors may enjoy the roses Gold Medal Garden featuring
and artisans using Northwest materials. Visitors can tour the estate
award-winning varieties; the Shakespeare garden, and more.
including the mansion, a three-car garage, a greenhouse, and the
https://www.rosegardenstore.org/thegardens.cfm
Italianate gate lodge, all situated on 46 acres of land almost 1,000 feet
above downtown Portland. Opened to the public in 1965, it has
become a community landmark—offering a gracious welcome to
visitors. www.pittockmansion.org
Looking for more to do and see in Portland?
For additional information on the sights and sounds of Portland,
please visit:
www.travelportland.com
www.portlandguide.com
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CONFERENCE EVENTS
Welcome Reception
Ice Cream Social
Location: Benson Hotel Fireplace Lobby
Sunday, 5:30—7:30 P.M.
Location: Kent Room
Tuesday Afternoon Break
Catch up with P2F2 friends from the past or meet new professional
colleagues at our traditional welcome reception. Beverages and
hors d’oeuvres will be served in the spectacular Fireplace Lobby of
the historic Benson Hotel.
More than the old fashioned social, this ice cream social has become a
P2F2 tradition. Join us and find out why!
Columbia Gorge Tour & Dinner
Location: Depart from hotel lobby
Monday, 4—9:30 P.M.
Your registration includes a bus tour of the beautiful Columbia River
Gorge National Scenic Area, with stops at Multnomah Falls and
Skamania Lodge. Plummeting 620 feet, Multnomah Falls is the fifth
tallest year-round waterfall in the U.S. and is just a short ride outside of
Portland. We’ll spend some time walking up to the falls (wear
comfortable shoes and bring a light jacket), then will load the buses for
another short ride to Skamania Lodge on the Washington side of the
Columbia River, where we’ll be served dinner.
Skamania (the Chinook Indian word for swift water) Lodge is in the
heart of the Columbia River Gorge with incredible views of the
Columbia River and Cascade Mountains. The rustic, yet elegant, grand
mountain lodge is a destination in and of itself with floors made from
original timber and an 85-foot high fireplace.
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Conference Meals
■
Breakfast:
A complimentary breakfast buffet will be provided in the Crystal
Ballroom on Monday, Tuesday and Wednesday mornings from
7:00—8:00. Attendees staying at The Benson before or after the
conference will be given a daily $25 voucher for breakfast in the
London Grill Restaurant, located in the hotel.
■
Lunch:
Lunch will be provided Monday, Tuesday and Wednesday for
conference attendees. Leaving early on Wednesday? Request a
to-go box lunch if you cannot join us for our sit-down lunch.
Request can be made on your registration form.
■
Dinner:
Dinner will be provided Monday evening at Skamania Lodge.
You’ll be on your own for dinner on Sunday and Tuesday,
although most attendees find enough to eat at our Sunday
Welcome Reception.
SESSION SCHEDULE
Sunday, October 2, 2011
Registration Desk Open Noon- 6:00 P.M.
Time
1:00 - 2:40 P.M.
Public Pension Systems Threats and Strategies
Linda Savitsky, NASRA and Paul Zorn, Gabriel Roeder Smith & Company
2:40 - 2:55 P.M.
Break
2:55 - 5:25 P.M.
Roll Call of the States
Vince Prendergast and Michele Nix
5:30 - 7:30 P.M.
Reception (Fireplace Lobby, The Benson)
Monday, October 3, 2011
Registration Desk Open 7:00 A.M.- 4:15 P.M.
Time
7:00 - 8:00 A.M.
Buffet Breakfast (Crystal Ballroom)
8:00 - 8:20 A.M.
Welcome
Luke Huelskamp, P2F2 President and Dave DeJonge, P2F2 Conference Committee Chair
8:20 - 10:00 A.M.
History and Ethical Lapses Do Repeat Themselves
Marianne Jennings, W.P. Carey School of Business, Arizona State University
10:00 - 10:15 A.M.
Break
10:15 - 11:55 A.M.
GASB Pension Project Update
Scott Reeser, GASB
11:55 A.M.1:20 P.M.
1:30 - 2:20 P.M.
Breakout
Sessions
Lunch (Crystal Ballroom)
Crazy Good Customer Service
Mark Henson, sparkspace
Securities Lending Update
Tom Daniels, BNY Mellon
Josh Lavender, J.P. Morgan
Glenn Horner, State Street
This is a two-part session.
Pension Fund Governance
Ken Kasper,
New York State Teachers’ Retirement
System
Color Key:
Mayfair Room
Yellow
Parliament Room
Green
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Crystal Ballroom
Blue
SESSION SCHEDULE
Monday, October 3, 2011 (continued)
Registration Desk Open 7:00 A.M.- 4:15 P.M.
Time
2:20 - 2:35 P.M.
Break
2:35 - 3:25 P.M.
Crazy Good Customer Service-continued
Mark Henson, sparkspace
Breakout
Sessions
Securities Lending Time for a Reality Check
Bo Abesamis, Callan
DC Record Keeping
Becky Gratsinger, R.V. Kuhns
3:50 - 9:30 P.M.
Dinner Event: Columbia River Gorge Tour. Meet in the lobby. Buses will LEAVE at 4:00
Color Key:
Mayfair Room
Yellow
Parliament Room
Green
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Crystal Ballroom
Blue
SESSION SCHEDULE
Tuesday, October 4, 2011
Registration Desk Open 7:00 A.M.- 5:00 P.M.
Time
7:00 - 8:00 A.M.
Buffet Breakfast (Crystal Ballroom)
8:00 - 9:40 A.M.
GFOA - GASB Update
Stephen Gauthier, GFOA
9:40 - 9:55 A.M.
Break - Refreshments
9:55 - 10:45 A.M.
Actuarial Impact of the GASB’s Pension Exposure Drafts
Brian Murphy, Gabriel Roeder Smith & Co.
10:45- 10:50 A.M.
Break - Stretch
10:50 - 11:40 A.M.
Investigative Interviewing Understanding the Art
Larry Rosipajla, Forensic Alliance
11:40 A.M.1:00 P.M.
1:10 - 2:00 P.M.
Breakout
Sessions
Lunch/P2F2 Annual Business Meeting (Crystal Ballroom)
CAFR Comments
Stephen Gauthier, GFOA
FX Trading Costs
Robert Tull, Fifth Third Bank
Using Webinars, Tools for Today
Mark Baker, Citrix
2:00 - 2:10 P.M.
Break - Walking
2:10 - 3:00 P.M.
Actuarial Returns Assumption The View
from an Investment Consultant’s
Perspective
Jim Voytko, R.V. Kunz
Breakout
Sessions
Do the Right Things
Ralph Smith, Orion Development Group
3:00 - 3:30 P.M.
Ice Cream Social (Kent Room)
Continued on next page
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Investment Performance Benchmarks Evaluation & Reporting
David Larsen, Duff & Phelps, LLC
George Pushner, Duff & Phelps, LLC
SESSION SCHEDULE
Tuesday, October 4, 2011 (continued)
Registration Desk Open 7:00 A.M. - 5:00 P.M.
Time
3:30 - 4:20 P.M.
Breakout
Sessions
Social Media Panel Discussion
Krista Myer, MOSERS
Michael Pramik, OPERS
Jeannine Smart, LACERA
Account Opening Process in Foreign
Markets
Michael Perkins, State Street
This is a two-part session.
IT Risks What Every Executive Needs
to Know!
Stephen Gerschoffer, Crowe Horwath
John Hanrahan, Crowe Horwath
4:20 - 4:30 P.M.
Break - Walking
4:30 - 5:20 P.M.
Social Media Panel Discussion-continued
Krista Myer, MOSERS
Michael Pramik, OPERS
Jeannine Smart, LACERA
Breakout
Sessions
How Much Did We Lose? Calculating
Losses and Damages in Securities Fraud
Actions
Joe White, Saxena White
The Future of Health Care Benefits for
Employees and Retirees
Tom Morrison, The Segal Company
Dinner on your own
Color Key:
Mayfair Room
Yellow
Parliament Room
Green
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Crystal Ballroom
Blue
SESSION SCHEDULE
Wednesday, October 5
Registration Desk Open 7:00 A.M. - 3:30 P.M.
Time
7:00 - 8:00 A.M.
Buffet Breakfast (Crystal Ballroom)
8:00 - 8:50 A.M.
Federal and State Legislative Updates
Leigh Snell, National Council on Teacher Retirement
8:50 - 8:55 A.M.
Break
8:55 - 9:45 A.M.
The State of U.S. Public Pensions
Jean-Pierre Aubry, Center for Retirement Research, Boston College
9:45 - 9:55 A.M.
Break
9:55 -11:35 A.M.
Tax Update
Mary Beth Braitman, Ice Miller LLP and David Levine, Groom Law Group
11:35 A.M.12:45 P.M.
Lunch
12:45 -1:35 P.M.
Economic Update
Geoffrey S. Somes, State Street Global Advisors
1:35 -1:50 P.M.
Break
1:50 - 3:30 P.M.
Working with Today’s Media
Brad and Janet Ritter, Brad Ritter Communications, LLC
Don’t miss it...
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SESSION DESCRIPTIONS
Sunday, October 2
1:00 – 2:40 PM
Sunday, October 2
2:55 – 5:25 PM
Public Pension Systems Threats and
Strategies
Linda Savitsky–NASRA and Paul Zorn–GRS
Roll Call of the States
Vince Prendergast—Texas County and District Retirement
System and Michele Nix—Missouri State Employees
Retirement System, moderators
Following a brief overview of the key demographic and funding
information of U.S. public pension systems, this session is designed
for participants to identify and share common threats and issues
facing U.S. public pension systems. The session will also provide
information about the strategies being deployed by pension systems
in defense of these threats—and the outcomes realized from those
strategies. This will be an interactive session with questions and
comments from the audience.
After attending this session, you will be able to:
The Roll Call of the States presents an opportunity for representatives
from each system to provide a brief snapshot of key issues affecting
their system, as well as initiatives planned and underway. This
session offers participants an outstanding opportunity to meet
counterparts and identify potential resources for future discussion on
issues your system may be facing.
After attending this session, you will be able to:
• Identify the most significant issues or potential issues
impacting the public pension environment
• Identify the major factors impacting legislative, technology,
litigation/governance funding/actuarial, accounting, tax, and
investment activities at public pension plans today
• Identify strategies that could be used for these threats or
issues
• Establish a network of resources from other systems sharing
mutual concerns
• Determine the future successes of the potential strategies
• Apply other systems’ lessons learned as you plan to address
similar opportunities/threats to sustaining pension benefits
• Assess if your system is optimally positioned to address
current pension hot topics
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SESSION DESCRIPTIONS
Monday, October 3
8:00 – 8:20 AM
Monday, October 3
10:15 – 11:55 AM
Welcome Remarks and Conference Logistics
Luke Huelskamp—P2F2 President
Dave DeJonge—P2F2 Conference Committee Chair
GASB Pension Project Update
Scott Reeser—GASB
Monday, October 3
8:20 – 10:00 AM
History and Ethical Lapses Do Repeat
Themselves
Marianne Jennings—W.P. Carey School of Business,
Arizona State University
This session will review the historical patterns involving economic
crises highlighting the similarities that exist among the crises despite
the span of decades. From the mortgage crisis of the savings and
loan era to the subprime portfolios of the housing bubble, the issues
are eerily similar. The laddering of the 1920s securities markets was
almost identical to the investment bankers’ strategies for pumping the
markets in this century. At the heart of all these financial crises was
the loss of focus on the basics of effective management and
investment: forthrightness, transparency, and trust. These three key
fundamentals form the basis of ethics. Regulation cannot fix all that
ails us, but a return to ethical conduct can. This session will help us
think about what we can do differently to increase our commitment
to ethical professions and ethical market dealings.
This session will provide an overview and detailed explanation of
the GASB’s proposed changes to pension financial reporting from
the GASB’s perspective. In addition to the in-depth discussion on
the important components of the Exposure Draft, the session will
provide up-to-date information on the written responses submitted
and the upcoming plans for testimony and next steps in the
project.
After attending this session, you will be able to:
• Understand the key changes included in the new pension
Exposure Draft
• Define potential impact from the GASB Exposure Draft on
your system
• Define the potential impact on pension systems nationwide
• Develop a strategy for preparing your system for possible
changes
Monday, October 3
11:55 – 1:20 Lunch
After attending this session, you will be able to:
• Identify repeating trends in economic failures
• List and understand the three key foundations of ethics
• Understand changes that need to occur to return to a more
ethical business management approach
• Establish an action plan for positive change
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SESSION DESCRIPTIONS
Monday, October 3
1:30 – 2:20 PM
Monday October 3
1:30 – 2:20 PM
Pension Fund Governance
Ken Kasper—New York State Teachers’ Retirement System
Securities Lending Update – Market, Regulation
and Program Enhancements
Tom Daniels—BNY Mellon, Josh Lavender—J.P. Morgan,
Glenn Horner—State Street
This session will begin with an overview of governance principles
followed by a presentation of the specific governance criteria that
should exist in public employee retirement systems. The presenter will
link the criteria to the principles using a model developed for audit
purposes. The model was used to evaluate the fund against the
selected criteria and create a scorecard to present to management
and the board. Although this approach was developed by auditors to
satisfy the internal auditors’ requirement to assess the governance
process under IIA standards, the same approach can be used by
management to conduct a self-assessment of the organization’s
governance status.
This session provides a panel discussion on key aspects of securities
lending supply and demand, an overview of pending regulation and
how securities lending programs have adapted.
After attending this session you will be able to:
• Understand supply and demand as it relates to security lending
• Recognize pending regulation issues and how they are
impacting security lending programs
• Evaluate recent program enhancements
After attending this session you will be able to:
• Develop an understanding of governance and an appreciation
for the need to include a governance assessment in the
business plan
Monday, October 3
1:30 – 2:20 PM
• Use an example of one approach to accomplish a governance
assessment
Crazy Good Customer Service
Mark Henson—sparkspace
• Develop insight into best practices in public pension plan
governance
Crazy Good Customer Service is an extremely powerful workshop that
forces you to rethink how you serve your team, your company, as well
as your end-users or consumers. More importantly, it helps you define
what crazy good service can look like in your organization so you can
begin to deliver noticeably better service immediately. This is NOT a
customer-service workshop. This is a workshop that will change the
way you serve everyone, including coworkers, employees, bosses,
vendors, customers, and even friends and family.
After attending this session you will be able to:
• Proactively eliminate obstacles before they become problems
for those you serve
• Recognize the importance of your customers and provide them
with crazy good customer service
• Identify the three ways we are always judged when responding
to any request and three ways to improve your responses
This session will occur over two sessions.
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SESSION DESCRIPTIONS
Monday, October 3
2:35 – 3:25 PM
Monday, October 3
2:35 – 3:25 PM
DC Record Keeping
Becky Gratsinger—R.V. Kuhns
Securities Lending—Time for a Reality Check
Bo Abesamis—Callan
Preparing for and implementing a DC Plan Recordkeeper Search can be
a monumental undertaking for plan sponsors in today’s complex DC
plan environment. Insight into helpful advance preparation and
education pre-RFP, as well as insights into the search and selection
process will be explored. Platform and investment plan design
considerations will also be discussed.
This session will concentrate on securities lending from the plan
sponsor perspective. Discussion items for participants will
include: revisiting the basics; beyond the marketing gimmick—
what you need to know before you participate in lending; what is
asymmetric risk; how to determine your lending profile; beyond
the lessons learned from the financial crisis.
After attending this session, you will be able to:
After attending this session, you will be able to:
• Identify key contract requirements and considerations for
development of the RFP
• Determine if a lending program would or would not be
suitable for your system
• Develop investment strategies consistent with plan objectives
• Learn the rationale behind lending securities and steps to
mitigate some of the risks
• Assess reporting requirements necessary to keep vendor
account balances in sync with pension plan’s financial
reporting cycles
Monday, October 3
2:35 – 3:25 PM
Crazy Good Customer Service–continued
Mark Henson—sparkspace
Session continues from previous session.
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SESSION DESCRIPTIONS
Tuesday, October 4
8:00 – 9:40 AM
Tuesday, October 4
10:50 - 11:40 AM
GFOA/GASB Update
Stephen Gauthier—GFOA
Investigative Interviewing—Understanding
the Art
Larry Rosipajla—Forensic Alliance
This session will offer participants a comprehensive overview of the
Governmental Accounting Standards Board activities, upcoming
projects and new technical bulletins and exposure drafts. The session
will focus heavily on the GASB’s two new Exposure Drafts on Pension
Accounting. Also covered will be upcoming initiatives pertinent to
public pension plans.
At some point, everyone has conducted an interview. Auditors
initiate planned procedures with interviews of a variety of people in
an organization because it’s important for auditors to understand
both the individual’s functions and processes within an organization
to ensure the integrity of an audit. However, when it comes to
interviewing a target of an investigation, interviewing takes on a
whole new meaning. It becomes a game of psychological warfare,
and if your interviewer is not trained in the art of conducting an
admission-seeking interview, you do not have a chance of
accomplishing your objectives. This session is designed to teach
auditors how to increase their success in conducting interviews.
After attending this session, you will be able to:
• Identify the GASB’s current and future projects
• List the key issues included in the GASB’s Exposure Drafts on
pensions
• Develop a plan to prepare for upcoming projects or pending
changes
After attending this session, you will be able to:
• Understand how to structure the interview
Tuesday, October 4
9:55 – 10:45 AM
• Design the best interview questions to ask
• Have enhanced awareness of potential legal issues
Actuarial Impact of the GASB’s Pension
Exposure Drafts
Brian Murphy— Gabriel Roeder Smith & Co.
Tuesday, October 4
11:40 AM – 1:00 PM
The actuarial impact of the GASB’s Pension Exposure Drafts will
provide significant changes to the reporting requirements for defined
benefit plans and plan sponsors. This presentation will review these
issues based on an actuary’s insight into some of the calculations and
will discuss various technical implementation issues.
Lunch and P2F2 Annual Business Meeting
After attending this session, you will be able to:
• List the key actuarial issues from the GASB Pension Exposure
Drafts
• Understand potential implementation issues from the actuarial
calculations associated with the Exposure Drafts
• Develop a strategy for preparing your system for possible
changes
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SESSION DESCRIPTIONS
Tuesday, October 4
1:10 – 2:00 PM
Tuesday, October 4
1:10 – 2:00 PM
CAFR Comments
Stephen Gauthier—GFOA
Using Webinars, Tools for Today
Mark Baker—Citrix
Why did the CAFR reviewer make those comments? What are others
doing? What are the common CAFR issues? What can you do better
to improve your CAFR? This session provides insight into the key
CAFR issues and the intent behind the comments from a reviewer’s
perspective. After completing this session you will be able to:
Ever wonder how you can collaborate and partner with employers
while still enhancing efficiency within your pension system? In this
session, you’ll be introduced to tools that will enable you to reduce
costs and increase productivity by leveraging technology in place of
travel. GoToMeeting HDFaces™ is now available and is literally
changing the face of web and video conferencing today. Using the
innovative new Citrix Multistream HD™ technology, GoToMeeting
HDFaces™ enables all participants to view up to six high-resolution
video conferencing streams at once and conduct face-to-face,
collaborative meetings anytime, anywhere. By attending this session,
participants will be among the FIRST to take advantage of this
revolutionary video conferencing experience before it’s available to
the general public later this year.
• Identify key CAFR issues
• Develop areas of improvement for your CAFR
• Learn pitfalls to avoid in the CAFR development
• Identify key resources for future assistance
Tuesday, October 4
1:10 – 2:00 PM
FX Trading Costs
Robert Tull—Fifth Third Bank
There are many behind the scenes actions that take place when
executing foreign exchange transactions. This perceived lack of
transparency can cause confusion around the actual costs of executing
foreign exchange transactions.
After attending this session, you will be able to:
• Gain a knowledge of the steps necessary to execute and settle
foreign exchange transactions
After attending this session, you will be able to:
• Evaluate technology solutions to provide educational
opportunities via the web
• Assess if your organization is ready to embark on virtual
outreach and meetings
• Evaluate if your organization and your employers and/or
members are ready to make the switch to online interactions
• Learn how other systems are using technology in their
business
• Recognize the costs associated with executing f/x transactions
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SESSION DESCRIPTIONS
Tuesday, October 4
2:10 – 3:00 PM
Tuesday, October 4
2:10 – 3:00 PM
Actuarial Returns Assumption—The View from
an Investment Consultant’s Perspective
Jim Voytko—R.V. Kunz
Do the Right Things
Ralph Smith—Orion Development
The challenge to serve more members and retirees with fewer
resources is great. Across-the-board cuts can’t solve the problem, but
process optimization can. The challenge is to know the right processes
to optimize (and/or automate) and the right processes to cut…and be
able to navigate the political and emotional minefields that accompany
large-scale change.
This session presents insights into how an investment consultant
views actuarial required rates of return when advising clients on
asset allocation issues including assessing risk tolerance. Asset
allocation implications, plan horizon date versus asset allocation
assumptions horizon date, and trends in public plan assumption
rates will be discussed.
After attending this session, you will be able to:
After attending this session, you will be able to:
• Evaluate which products and services are most important to
your future
• Understand the impact of market volatility on long term
actuarial
rate of return assumptions
• Analyze which policies and rules are worth fighting and
changing and which processes can be cut back or eliminated
without affecting your customer
• Develop a strategy to address short term external pressures
on
long term asset allocation policies and actuarial rates of return
• Determine which improvement opportunities offer the most
bang for the buck
• Understand the risks and implications of asset liability
matching
Tuesday, October 4
3:30 – 4:20 PM
Tuesday, October 4
2:10 – 3:00 PM
IT Risks—What Every Executive Needs to Know!
Stephen Gerschoffer, John Hanrahan—Crowe Horwath
Investment Performance Benchmarks –
Evaluation & Reporting
David Larsen, George Pushner—Duff & Phelps, LLC
Every day we read about an IT breach on customer data. In this world
of increasing dependence on technology, so much information is
stored on our systems. How do we know it is secure? This session will
focus on the risks that face us and provide useful information that will
help your organization proactively address these risks.
In today’s world, we are all measured on how well we do. Usually
we are judged against some given criteria. In the investment world,
performance is judged on how well one does against a benchmark.
To fairly judge how well one does against a benchmark, we must
ensure that the benchmark is appropriate. There are several factors
that play into choosing or evaluating benchmarks.
After attending this session you will be able to:
• Gain an understanding of what risks exist that jeopardizes the
security and confidentiality of your customer information
• Determine how you can manage Information Technology risks
in your organization
After attending this session, you will be able to:
• Apply what steps are necessary in choosing the appropriate
benchmark
• Develop ways to help reduce the risk of malicious activity
• Learn tips on how to monitor and help mitigate risks in your
organization
• Recognize the implications of not choosing an appropriate
benchmark
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SESSION DESCRIPTIONS
Tuesday, October 4
3:30 – 4:20 PM
Tuesday, October 4
4:30 – 5:20 PM
Account Opening Process in Foreign Markets
Michael Perkins—State Street Corporation
The Future of Health Care Benefits for Employees
and Retirees
Tom Morrison—The Segal Company
This session will summarize the main structures of securities accounts
in global markets and discuss the challenges faced in establishing and
maintaining accounts on behalf of pension funds. The focus will be on
what to prepare for to ensure successful account openings in foreign
markets.
The cost of health care is in the news daily. Sustainability is on everyone’s
mind. We either devise a plan to move forward or have one dictated to us.
This session will provide an update on the state of health care reform and
the possible events that may yet come.
After attending this session you will be able to:
After attending this session, you will be able to:
• Gain an understanding of the requirements for some of the
more challenging markets
• Develop a plan for designing and financing benefits beyond 2014
• Become familiar with the expectations of the local custodians
and governments
• Be creative in designing retiree-only exemptions
• Better understand the future of Medicare
• Put together a timeline of what to expect from regulators
Tuesday, October 4
3:30 – 4:20 PM
Tuesday, October 4
4:30 – 5:20 PM
Social Media Panel Discussion
Krista Myer—MOSERS, Michael Pramik—OPERS,
Jeannine Smart—LACERA
How Much Did We Lose? Calculating Losses and
Damages in Securities Fraud Actions
Joe White—Saxena White
Social media can be an effective tool to reach your constituent
populations and keep them up to date on pension reform and other
vital issues. As with all innovation, some potential pitfalls should be
considered when evaluating how to use these communication tools.
During this session you will learn how three different pension systems
have considered or embarked on the social media journey and the
results they have produced to date.
As we read every day in the media, there are a multitude of companies
being sued for various reasons. These reasons are not always apparent.
The primary driver for these actions is the harm caused to the owners or
stockholders of these companies. Just as there are many reasons for filing a
suit there are many ways in which one could measure the harm or damage
caused by those actions.
After attending this session, you will be able to:
• Determine if the potential benefit of social media outweigh the
potential risks
• Understand the different types of social media, and how each
can be used to reach your employer and member demographic
After attending this session you will be able to:
• Develop an understanding of the various reasons why
companies are engaged in legal actions
• Identify the various methodologies and rationale for choosing
the various calculations
• Evaluate whether now is the right time for your organization to
consider using social media and how to get started
Tuesday, October 4
4:30 – 5:20 PM
This session covers two breakouts.
Social Media Panel Discussion, continued
Krista Myer—MOSERS, Michael Pramik—OPERS,
Jeannine Smart—LACERA
Continuation from previous session.
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SESSION DESCRIPTIONS
Wednesday, October 5
8:00 – 8:50 AM
Wednesday, October 5
9:55 – 11:35 AM
Federal and State Legislative Updates
Leigh Snell—NCTR
Tax Update
Mary Beth Braitman—Ice Miller; David Levine—Groom Law
Group
The legislative and political environment this past year has been
challenging for public pension plans. This session will provide an
overview of key federal and state legislative activity and other agency
initiatives and their impact on public retirement systems.
Additionally, this session will provide insights into potential future
challenges for public retirement systems.
The IRS continues its focus on government plan outreach, compliance,
and enforcement efforts. This session will focus on new federal
guidance, IRS developments and on-going federal projects affecting
governmental plans.
After attending this session, you will be able to:
After attending this session, you will be able to:
• List the new issues facing government plans
• List the key legislative and political activity from the past year
• Develop strategies for addressing issues facing government
plans
• Define the potential impact from this activity on your system
• Develop a strategy for preparing your system for the current
legislative and political threats and potential future threats
Wednesday, October 5
12:45 – 1:35 PM
Wednesday, October 5
8:55 – 9:45 AM
Economic Update
Geoffrey S. Somes—State Street
The State of U.S. Public Pensions
Jean-Pierre Aubry—Boston College
The economy has played a significant role in the funding status of
pension systems for the past several years—and likely for several
years to come. This session will provide insight into key economic
factors and will provide insight into future market direction.
This session will give an overview of state and local pension plan
funded levels across the nation with a focus on the historical trends
that have led us to the current challenge. Additionally the impact
that pensions and other post-employment benefits have on state and
municipal finances and the muni-bond market will be discussed.
After attending this session, you will be able to:
• Apply a historical perspective to the global economic outlook
• Understand primary risks associated with the economic outlook,
on a global scale
After attending this session, you will be able to:
• Learn the current status of state and local pension funds in the
United States
• Focus on major “headwinds” that are holding back the U.S.
recovery
• Develop an understanding of the factors that have contributed
to the current underfunded status of many plans
• Explore the implications of pension funding on the muni-bond
market
• Gain an understanding of the different areas of reform being
utilized by funds to address their unfunded liabilities
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SESSION DESCRIPTIONS
Wednesday, October 5
1:50 – 3:30 PM
Working with Today’s Media
Brad & Janet Ritter—Brad Ritter Communications LLC
America’s public pension funds are under attack like never before, and
as a pension-fund representative, you are on the frontline. Your ability
to effectively answer the tough questions posed by today’s hyperaggressive news media is critical to your fund’s ability to fulfill its
mission. To make the challenge even greater, what you say to a
reporter can quickly spread through a myriad of social media channels.
This session will teach you how to confidently interact with the
media. You will learn how to manage a variety of media situations and
the do’s and don’ts of conducting print, broadcast and online
interviews. Hands-on exercises with real-life scenarios will make for a
fast-paced, high-energy and fun session. Don’t be surprised if you find
yourself in front of cameras and microphones!
After attending this session, you will be able to:
• Understand the pitfalls of dealing with the media
• Apply tools to answer media questions confidently and
effectively
• Develop a media plan using multiple media sources
• Practice media skills
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MEET THE SPEAKERS
Virgilio “Bo” Abesamis III
Callan Associates
Bo Abesamis is manager of Callan Associate’s Master Trust, Global Custody, and Securities Lending Group. Mr. Abesamis joined Callan Associates in
1987, initially Callan’s Capital Markets Research Group. Later, Abesamis managed the Specialty Performance Measurement Group, where he worked
extensively with analytics involving non-traditional asset classes including international, alternative investments, and real estate. He also assisted in the
development of Callan's International Consulting Services Group and Defined Contribution Consulting Services Group.
During his tenure at Callan, Abesamis published several research papers, the most recent in 2008 entitled, Ask the Expert--Securities Lending
Mechanics and Risks Revisited.
Abesamis earned a B.S. in accounting and finance from Ateneo de Manila, Philippines, and an M.B.A. with a double major in finance and
international business from the University of San Francisco.
Jean Pierre “JP” Aubry
Center for Retirement Research, Boston College
As the assistant director of state and local research at Boston College’s Center for Retirement Research, JP Aubry works to realize the goals of the
Center, which are to promote research on retirement issues, to transmit new findings to the policy community and the public, to help train new
scholars, and to broaden access to valuable data sources.
Mr. Aubry is the author or co-author of numerous scholarly articles on state and local pension plans and retirement health benefits. He is also a frequent
presenter on pension issues, including recent presentations to the Rappaport Institute for Greater Boston, the annual conference for the National
Federation of Municipal Analysts, and consulting with the Service Employees International Union Public Sector division leaders.
Aubry is a graduate of the University of Pennsylvania.
Mark Baker
Citrix
Mark Baker is vice president and general manager, sales and service North America, for the Online Service Division of Citrix. As such, Mr. Baker
leads a national team of more than 200 sales and services professionals who represent the Citrix product and services offerings.
Baker has more than 20 years of expertise in sales and executive leadership, having spent 15 years at ADP and seven years at Monster.com prior to
joining Citrix. At both ADP and Monster, he implemented sales training programs, leadership initiatives and developed go-to market programs for his
field and telesales teams, maximizing his work in both SAAS and human capital management.
Baker earned a degree in business from Portland State University.
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MEET THE SPEAKERS
Mary Beth Braitman
Ice Miller LLP
With Ice Miller, Mary Beth Braitman works with governmental retirement and health systems on federal tax questions, compliance with federal
law, fiduciary issues and plan-design innovations. Ms. Braitman’s project experience includes financing/designing health benefits, fiduciary audits
on governance and investment practices, innovative pick-up programs, qualified excess benefit arrangements, correction projects, and design of
comprehensive compliance strategies. Most recently, Braitman has been working with a number of complex change-management issues, often in
connection with sustainability and design projects.
Braitman serves on many advisory boards and is also a member of the IRS Determination Liaison Group. Braitman earned her B.S. in
management from Indiana University and her J.D. from Indiana University School of Law.
Tom Daniels
BNY Mellon
Tom Daniels serves as a managing director for BNY Mellon, where he directs the Securities Lending New Business Development Group for the
Americas. In this capacity, Mr. Daniels works with a diverse group of global corporate and public entities including pension funds, insurance
companies and money managers. Additionally, he is responsible for the management and execution of the securities lending sales and marketing
functions.
Daniels’ scope of experience is impressive. In addition to his work with BNY Mellon, he was employed with Salomon Brothers, The Chase
Manhattan Bank and The Bank of New York where he held positions in trading, client service and sales, and marketing. Prior to his tenure in
securities lending, Daniels was in public accounting.
He is a member of the CFA Institute, and a member of the CFA Society of Pittsburgh. He is a certified public accountant, and holds Series 3, 7
and 63 licenses. Daniels has a bachelor’s degree in business administration in accounting, and an M.B.A., with honors, in finance from
Duquesne University.
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MEET THE SPEAKERS
Stephen J. Gauthier
Government Finance Officers Association of the United States and Canada (GFOA)
Stephen Gauthier is director of the Technical Services Center of the GFOA in Chicago. He served as one of the original members of the Special
Review Executive Committee for the GFOA’s Certificate of Achievement for Excellence in Financial Reporting Program. Prior to joining GFOA, Mr.
Gauthier served as the research and technical review manager for the Tennessee Division of State Audit in Nashville.
Gauthier is the author of numerous GFOA publications, including Governmental Accounting, Auditing, and Financial Reporting (GAAFR/Blue
Book), Evaluating Internal Controls: A Local Government Manager’s Guide, Accounting for Capital Assets: A Guide for State and Local
Governments and many others. In addition, Gauthier is the author of GFOA’s monthly accounting, auditing, and financial reporting newsletter,
GAAFR Review, and is a regular contributor to Government Finance Review. Gauthier has spoken extensively on behalf of GFOA at national and
state seminars on a variety of accounting, auditing and financial reporting topics.
Gauthier received his B.A. from the University of Wisconsin, Milwaukee. He holds an M.A. from the University of Wisconsin, Milwaukee and also
earned a master’s and Ph.D. from Vanderbilt University. He is a certified public accountant and a member of the American Institute of Certified
Public Accountants and the Illinois CPA Society
Steven M. Gerschoffer
Crowe Horwath LLP
Steve Gerschoffer is a principal at Crowe Horwath LLP, and has more than 22 years of experience in technology-risk consulting providing
corporate governance, enterprise risk management, fraud, internal audit, Sarbanes-Oxley compliance, and risk-assessment services.
Mr. Gerschoffer has worked with a broad range of clients including manufacturers, governmental agencies, not-for-profits, educational and
financial institutions.
Gerschoffer is a member of the Information Systems Audit and Control Association, Institute of Internal Auditors, and Computer Security Institute.
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MEET THE SPEAKERS
Rebecca Gratsinger
R.V. Kuhns & Associates, Inc. (RVK)
Becky Gratsinger is CEO, senior consultant and principal of RVK. Ms. Gratsinger joined the firm in 1994 and has 20 years of experience in
investment consulting and capital markets. Gratsinger’s consulting experience has spanned all institutional client types including public funds,
defined benefit, defined contribution, endowment/foundation, corporate reserve, insurance, and high net worth. She has extensive experience in
a broad range of consulting disciplines including investment policy, asset allocation, performance evaluation and attribution, investment manager
searches, and asset class structure studies.
A member of the CFA Institute and the Portland Society of Financial Analysts, Gratsinger received a B.S. in finance from Portland State University
and holds the chartered financial analyst designation.
John E. Hanrahan
Crowe Horwath LLP
A manager at Crowe Horwath LLP, John Hanrahan has many years of experience in technology risk consulting. Mr. Hanrahan works with
organizations with the implementation and testing of information systems in support of Sarbanes-Oxley, FDICIA, Gramm-Leach-Bliley Act, Section
501b compliance, and other financial reporting requirements. Hanrahan’s experience involves performing vendor-risk assessments, confidential
information risk assessments, and policy development—all designed to help client organizations safeguard confidential information.
Hanrahan is a member of the Information Systems Audit and Control Association and Institute of Internal Auditors.
Mark Henson
sparkspace
Mark Henson is the chief imagination officer of sparkspace, the most inspiring business retreat center on the planet. Mr. Henson began his career
in radio, and spent 10 years as a radio personality and marketing director for several radio stations in Oklahoma, Michigan, and Ohio. His career
continued at Fitch, an internationally recognized design firm, where he was the lead brainstorming facilitator, conducting workshops for
companies such as Procter & Gamble and SC Johnson.
In 2000, Henson designed and launched sparkspace, a facility dedicated to helping teams and leaders think out of the box—literally and
figuratively. Since that time, sparkspace has hosted more than 3,000 meetings and has produced dozens of workshops on service, teamwork,
and workplace positivity each year.
Henson graduated from Oklahoma Christian College with a degree in mass communications.
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MEET THE SPEAKERS
Glenn Horner
State Street
Glenn Horner is a managing director in State Street’s Securities Finance division, where his responsibilities include financial modeling, product
innovation, and research and development across the Securities Finance group. Previously, Mr. Horner managed the Portfolio Strategy and
Quantitative Modeling department. Horner joined State Street in 1990 and has held various risk management-related positions, including risk
analyst, asset-liability manager and risk-management consultant for institutional investors as part of State Street’s former Askari subsidiary.
Horner earned his B.S. and M.B.A. from Babson College. Additionally, he has attained the chartered financial analyst designation, and has earned
the Global Association of Risk Professionals' financial risk management certification and the Professional Risk Managers’ International Association's
certified risk manager designation.
Marianne Jennings
W.P. Carey School of Business, Arizona State University (ASU)
Marianne Jennings is a professor of legal and ethical studies in business in the Department of Management at ASU’s School of Business, where
she teaches graduate courses in business ethics and the legal environment of business.
A noted author, Jennings has hundreds of articles in academic, professional and trade journals to her credit. She currently has six textbooks and
monographs in circulation, many in multiple editions. A columnist, Jennings has been syndicated around the country; her work has appeared in
the Wall Street Journal, Chicago Tribune, New York Times, Washington Post and Reader’s Digest.
A much sought-after speaker, Jennings has conducted more than 300 workshops and seminars on ethics encompassing the areas of business,
government, legal, academic, personal, and professional ethics. In addition, she has been a commentator on business issues on All Things
Considered for National Public Radio.
Jennings earned her undergraduate degree in finance and her J. D. from Brigham Young University.
Kenneth R. Kasper
New York State Teachers’ Retirement System
Currently the manager of Internal Audit for the New York State Teachers’ Retirement System, Ken Kasper has built a 30-year career of increasingly
responsible positions in finance and internal auditing.
Mr. Kasper is the immediate past president of the Association of Public Pension Fund Auditors and is a current board member. A published
author, Kasper serves on the board of the Institute of Internal Auditors and is past president of the Albany Chapter. He is a three-time recipient of
the Martin H. Ives award, which is presented annually to members for outstanding service.
Kasper earned an M.S. in accounting and a B.S. in business management from the State University of New York. He is a certified public
accountant, a certified internal auditor, a certified information systems auditor, a certified investments and derivatives auditor, and holds a
certification in control self-assessment.
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MEET THE SPEAKERS
David Larsen
Duff & Phelps, LLC
David Larsen is a managing director and a member of the Portfolio Valuation service line at Duff & Phelps. Mr. Larsen has almost 30 years of
transaction and accounting experience, specializing in valuation and accounting issues. Larsen serves as a special advisor to the Institutional
Limited Partners Association and as a board member, project manager, and technical advisor to the Private Equity Industry Guidelines Group.
In addition, he is a member of the Financial Accounting Standards Board’s Valuation Resource Group—a group responsible for providing the
Board with input on various issues.
A certified public accountant, Larsen is a member of the American Institute of Certified Public Accountants and serves on its Net Asset Value
Task Force. Larsen earned his M.S. in accounting from Brigham Young University’s Marriott School and his B.S. in accounting from Brigham
Young University.
Joshua M. Lavender
J.P. Morgan
Joshua Lavender is an executive director in Securities Lending, Financing and Markets Products at J.P. Morgan. In his position, Mr. Lavender
oversees consultant relations and has an integral role in directing client strategy and developing new business opportunities. He provides
consulting services to clients on the design and development of customized lending solutions encompassing program structures, loan types,
distribution methods, parameters and collateral. Additionally, Lavender is responsible for content management, the development and
production of client materials, as well as training and education on the securities-lending industry.
Lavender joined J.P. Morgan in 2008. Prior to that, he spent 13 years with General Motors Asset Management where he was responsible for
the evolution and management of the firm's global securities lending program. He has extensive experience in developing securities-lending
initiatives using multiple lending platforms.
A noted speaker at industry conferences, he is the author of multiple articles on securities lending. Lavender holds a B.S. in accounting from
Rutgers University and an M.B.A. in finance from Fordham University.
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MEET THE SPEAKERS
David N. Levine
Groom Law Group
David Levine practices in the employee benefits and tax areas, with a primary focus on matters involving governmental retirement and welfare
programs and private sector retirement programs. Mr. Levine has conducted numerous compliance reviews for governmental plans and has
worked with colleagues to develop internal compliance and operational review materials designed to maximize the efficiency of compliance
reviews.
In his career, Levine has advised governmental plan clients on plan qualification, pick-up, disability, deferred retirement option, and cash balance
issues—and he has obtained private letter rulings and favorable determination letters for these governmental plan clients. Currently, Levine is
advising a number of governmental plan clients on their Cycle C/E determination letters, Employee Plans Compliance Resolution System
correction filings, 403(b) plan compliance with the final 403(b) regulations, and ongoing 457(b) plan issues.
Chair of the Internal Revenue Service Advisory Committee on Tax Exempt and Governmental Entities, he is listed as a leading lawyer in The Legal
500 directory for Employee Benefits Tax work and in the USA Chambers Guide for Employee Benefits & Executive Compensation.
Levine received his J.D. from the University of Pennsylvania School of Law and graduated, with honors, from Johns Hopkins University.
Thomas M. Morrison, Jr.
The Segal Company
Thomas Morrison is a senior vice president, health and retirement plan consultant with The Segal Company in the Los Angeles office. With more
than 30 years of experience in health care consulting, Mr. Morrison has specific expertise in managed care, custom PPO networks, prescription
drug cost management, plan design, and funding innovations.
Additionally, Morrison has conducted extensive assignments in the areas of retiree medical plan design and funding, paid time-off, and integrated
disability management plans for multi-employer, public sector, and corporate clients throughout the U.S.
Morrison earned a bachelor’s degree in finance and accounting and music composition from the University of Miami, where he also earned his
M.A. in music composition and orchestration. Morrison is also a graduate of Indiana University, where he earned his M.B.A.
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MEET THE SPEAKERS
Brian B. Murphy
Gabriel Roeder Smith & Company (GRS)
Brian Murphy is a senior consulting actuary and the president of GRS. Mr. Murphy has extensive experience in public employee benefits over
the entire spectrum of plans—from the smallest to the largest. His experience includes retirement plans covering a wide variety of sectors—
general employee, teachers, law enforcement employees, judges, and others. Murphy has garnered expertise with single-employer plans, agent
multiple-employer plans, and cost-sharing multiple-employer plans.
In addition to retirement consulting, Murphy has extensive experience with retiree health plans, including some of the largest in the country. He
is the principal author of GRS’ Actuarial Valuation Software and was the project manager for the development of the CalPERS Actuarial Valuation
System. A published author, he has written or contributed to several articles for Employee Benefit Issues; Benefits & Compensation Digest; and
most recently authored a white paper on Implications of Financial Economics for the Society of Actuaries.
Murphy is a fellow of the Society of Actuaries, a member of the American Academy of Actuaries, and an Enrolled Actuary. Murphy earned his
Ph.D. in mathematics from Wayne State University in Detroit.
Krista Myer
Missouri State Employees’ Retirement System (MOSERS)
Krista Myer is the communications manager for MOSERS. Ms. Myer joined MOSERS in 2008 after almost a decade of career public service that
included serving as a senior budget analyst to three Missouri governors, and as director of publications for the Missouri secretary of state.
Myers is an accomplished athlete having completed 10 half-marathons. She earned two bachelor’s degrees from Eastern Illinois University—one
in journalism and one in sociology—and an M.A. in sociology from the University of Missouri.
Michael Perkins
State Street
Michael Perkins is vice president of Global Cash & Securities Services/Network Management & Correspondent Banking at State Street. Mr.
Perkins began his career in the securities industry with State Street in 1997, when he held positions in State Street’s Network Management and
Securities Processing departments. Later, Perkins joined Investors Bank and Trust and assumed responsibility for managing its network of subcustodians in Western Europe. When State Street acquired Investors in 2007, Perkins re-joined State Street’s Network Management group. In his
current position, Perkins is responsible for sub-custody and cash services in Latin America, Northern Europe, and managing State Street’s
relationship with Euroclear and Clearstream.
Perkins holds a B.S. in political science from the University of New Hampshire.
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MEET THE SPEAKERS
Michael Pramik
Ohio Public Employees Retirement System (OPERS)
Mike Pramik is the pension industry communications specialist for OPERS, the 12th-largest public pension system in the U.S. In this position, he
works with senior management to produce a variety of strategic messages for external audiences, contributing his expertise in issues
management, media relations and marketing communication.
Mr. Pramik created OPERS’ social media strategy, managing the implementation of the program in March 2011. Pramik writes OPERS’ blog,
which addresses vital topics on pensions and pension legislation; oversees postings to the OPERS Facebook site; and works with Government
Relations staff to cultivate the System’s Twitter followers. He also produces video stories involving OPERS staff and members.
Before joining OPERS in 2010, Mike spent more than 20 years in the newspaper industry. He was a business reporter for more than a decade at
the Columbus Dispatch, covering a variety of beats including banking, real estate, business development and tourism.
Pramik holds a B.A. in journalism, and an M.B.A. from The Ohio State University.
George Pushner
Duff & Phelps, LLC
George Pushner is a director in the New York office of Duffs & Phelps, and part of the Portfolio Valuation service line. Mr. Pushner has
demonstrated expertise in the valuation field for more than 14 years, and has more than six years of specific experience in portfolio valuation. He
has also demonstrated expertise in performance measurement and calculation and has directed multiple engagements relative to investment
performance benchmark evaluation and reporting. At Duff & Phelps, Pushner has been responsible for quarterly and monthly valuations and
reviews of more than 250 portfolio positions. He has served numerous sectors, including financial services, technology, pharmaceutical,
telecommunications and industries including brokerage, asset management and automotive.
Prior to joining Standard & Poor’s Corporate Value Consulting, which merged with Duff & Phelps in 2005, he was a manager with Analysis
Group, where he led litigation consulting engagements for more than 20 cases involving valuations, securities issues and damages calculations.
His experience also includes founding his own company, strategic planning and financial analysis for AT&T, and transfer pricing analysis for
Deloitte & Touche.
Pushner received his Ph.D. in finance and economics from Columbia Business School, and his M.P.A. and A.B. degrees from Princeton
University’s Woodrow Wilson School. He is also a chartered financial analyst and holds a certificate in Investment Performance Measurement
and the Certified Financial Planner designation.
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MEET THE SPEAKERS
Scott Reeser
Governmental Accounting Standards Board (GASB)
Scott Reeser is a project manager with the GASB in Norwalk, Connecticut. Currently, Mr. Reeser is working on projects dealing with financial
instruments, post-employment benefit accounting and financial reporting, deferred inflows of resources and deferred outflows of resources.
Before joining the GASB, Reeser served 10 years with the Office of the Comptroller for the state of Illinois. During that time, he was responsible for
the coordination and preparation of the state’s Comprehensive Annual Financial Report and the development and implementation of statewide
accounting principles. His previous experience also includes more than five years with a public accounting firm as a consultant performing financial
and compliance audits of not-for-profit entities and state of Illinois government agencies.
Reeser is a graduate of the University of Illinois, Urbana-Champaign. He is a member of the American Institute of Certified Public Accountants and
the Illinois CPA Society.
Brad & Janet Ritter
Brad Ritter Communications, LLC
Brad and Janet Ritter have coached hundreds of executives and officials from Fortune 500 companies, associations, not-for-profits, small firms and government
agencies. Together, they have more than four decades of media and communications experience working as journalists, corporate spokespersons, consultants
and coaches. Both are among the five percent of public relations practitioners accredited by the Public Relations Society of America.
Mr. Ritter is a graduate of Bowling Green State University where he earned his B.A. in communications.
Ms. Ritter is a noted travel writer and known nationally as an in-demand news source for business reporters. Their firm, Brad Ritter Communications,
LLC, maintains offices in Los Angeles and Columbus, Ohio.
Larry A. Rosipajla
Forensic Alliance LLC
Larry Rosipajla is the owner of Forensic Alliance LLC, headquartered in Colorado. Mr. Rosipajla provides consulting services in civil matters with
particular emphasis and specialized expertise in forensic accounting, fraud investigations and internal control evaluations. In his career, he has
directed many financial investigations, which have included FCPA violations, alter-ego analysis, lease/loan fraud, embezzlements, and financial
reporting frauds. In addition, he has represented clients in financial reporting matters under investigation by the SEC and the Department of Justice.
Within both the public and private sectors, Rosipajla has performed numerous audits, compilations, internal control reviews, acquisition reviews, and
other related financial statement examinations.
A graduate of California State University, Fullerton, Rosipajla earned two bachelor’s degrees: one in accounting and another in management
information systems. He is a certified public accountant, licensed to practice in the states of Colorado and California; a certified fraud examiner, and
an adjunct professor at the University of Denver, Daniels College of Business.
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MEET THE SPEAKERS
Linda Savitsky
NASRA
Linda Savitsky was appointed NASRA’s executive director effective August 1, 2011. Ms. Savitsky has served her entire career in public service,
predominately in finance-related positions with the state of Connecticut. Her positions have been varied and include municipal tax collector,
municipal finance director for three entities and director of municipal finance services for the Connecticut Office of Policy and Management.
Additionally, she served as a co-chair of a legislative task force that studied the funding practices of municipal retirement systems. After her
retirement in 2003, Savitsky consulted for regional and municipal governments throughout New England, working on various aspects of municipal
finance with an emphasis on defined benefit plans.
Throughout her career, Savitsky held various leadership roles with the Government Finance Officers Association of the U.S. and Canada (GFOA),
and served as president from 1997-1998. She represented GFOA on the Public Pension Coordinating Council and she served as the chair of the
Essex (CT) retirement board for 17 years.
Savitsky holds a bachelor’s degree in government from Clark University in Worcester, Massachusetts, where she currently serves as a member of
its board of trustees.
Jeannine Smart
Los Angeles County Employees Retirement Association (LACERA)
As the chief of communications for LACERA, Jeannine Smart oversees the direction and creation of member communications and LACERA
branding. Ms. Smart is responsible for an array of print publications, the design for and content of LACERA's three websites, and the association’s
employee intranet. Smart also creates interactive presentations for video, active learning and public speaking venues.
A much sought-after presenter, Smart has served as a speaker at the State Association of County Retirement Systems’ symposium and as chair
and frequent presenter of the California Association of Public Retirement Systems’ (CALAPRS) communications event.
Prior to joining LACERA in 2000, Smart spent many years in the private sector as a professional with advertising and marketing agencies. Smart
holds a B.A. from the Center for Creative Studies in Detroit, MI.
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C O N F E R E N C E I N F O R M AT I O N
Ralph Smith
Orion Development Group
Ralph Smith is vice president of strategic services for the Orion Development Group and president of its Public Process Optimization division.
For more than 20 years Mr. Smith has developed a significant career, developing his experience with and expertise for a diverse group of clients.
He has facilitated strategic planning and balanced scorecard initiatives in both public and private sectors. Recently, Smith worked on a business
process redesign at the Ohio Public Employees Retirement System, which set the stage for a major information technology upgrade and is
anticipated to free up more than 30 percent of the staff for higher-value activities.
A corporate facilitator for trainings and seminars, Smith’s topics include Process Mapping, How to Cut Costs without Slashing Services,
Facilitating High-Performance Teams, and Using the Balanced Scorecard.
Smith has an M.A. in operations research from the Georgia Institute of Technology and a bachelor’s degree in mathematics and statistics from
the University of Georgia. He is a member for the American Society for Quality.
Leigh Snell
National Council on Teacher Retirement (NCTR)
Leigh Snell is the federal relations director for the NCTR, an organization that represents 68 state, territorial and local pension systems serving
more than 18 million active and retired public employees.
For more than 30 years, Mr. Snell has represented an array of public and private-sector clients, yet he considers his career to be focused
primarily on public pension plan issues. His areas of expertise include retirement policy, taxation, and securities regulation.
Snell began his career at the Federal Trade Commission and ultimately left the public sector to help found David Vienna & Associates, which
became the first federal representative for the California Public Employees’ Retirement System. He is the co-author of Public Pensions & You:
Going UP to the Trustee Level, a handbook for public pension trustees, administrators, and staff.
A native of Florida, Snell earned his B.A. in history from Duke University and J.D. from the Georgetown University Law Center.
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MEET THE SPEAKERS
Geoffrey S. Somes
State Street Global Advisors
A vice president at State Street Global Advisors in Boston and senior economist with State Street’s economics team, Geoffrey Somes has been with
State Street Global Advisors since 2005. Mr. Somes has significant expertise in forecasting and analyzing economic events in the global economy and
evaluating the impact on financial markets. Somes’ research focuses on the U.S., United Kingdom, Canada and Australia.
Somes has two decades of experience as an economist within the private sector. Prior to that, he worked in the public sector as a financial economist
with the U.S. Treasury Department in Washington, DC, working on banking policy.
Somes earned a B.A., with distinction, in economics from Connecticut College. He possesses two master’s degrees: one in economic policy from
Duke University, and another in monetary theory and econometric analysis from Boston College.
Robert M. Tull
Fifth Third Bank
Robert Tull is senior managing director of foreign exchange, futures and commodity derivatives for Fifth Third Bank. As such, Mr. Tull is responsible
for the trading and delivery of risk management products to the corporate and institutional client bases throughout North America, Europe and Asia.
He and his team are responsible for evaluating the financial impact of interest rates, foreign currency and commodity movements on businesses and
for developing strategies to mitigate these risks. Additionally, Tull advises clients on economic and political developments and the impact they may
have on a company’s domestic and international operations.
Tull has 25 years of banking experience at various firms and began trading currencies in 1988. He joined Fifth Third in 2000, and has been a frequent
contributor to the Dow Jones News, Spark Spread and other financial periodicals.
A graduate of the College of Wooster with a B.A. in economics, Tull received his M.B.A. in management from Baldwin-Wallace College.
Jim Voytko
R.V. Kuhns & Associates, Inc. (RVK)
As president, chief operating officer, director of research, senior consultant and principal of RVK, Jim Voytko is located in the Portland office. Prior to
joining RVK in 2004, Mr. Voytko served as the CEO/executive director of Oregon’s statewide pension system for all employees of state and local
governments, police and fire, teachers and higher education, statewide retiree health care insurance program, and statewide 457 deferred
compensation program. He had the distinction of serving on the five-member Oregon Investment Committee, which directed the investment of all
statewide funds including the Oregon PERS pension fund, Oregon’s 457 Plan and the state's Workers Compensation Fund, all totaling approximately
$45 billion.
In the private sector, Voytko's experience includes serving as director of research for PaineWebber; CIO and managing director of PNC Asset
Management Group/PNC Advisors; and as the deputy director and COO of PaineWebber’s Investment Banking Division. He has served as a trustee
on corporate DB and DC plans and is member of the National Association of Business Economists.
Voytko earned his B.A. from Carnegie Mellon University, his M.A. in public administration from the University of Washington, and M. A. in public
policy from Harvard University.
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MEET THE SPEAKERS
Joe White
Saxena White
Joe White is co-founder of the firm Saxena White and has represented shareholders as lead counsel in major securities fraud class actions and
merger litigation nationwide. In addition, Mr. White advises public and union pension funds on securities law matters. White has also assisted
shareholders in achieving equitable treatment in minority shareholder buy-out actions and derivative actions achieving meaningful corporate
governance reform.
White’s clients include private investment funds, union pension, annuity and welfare funds, as well as municipal and county public pension
funds. White has successfully settled cases against numerous publicly traded companies, yielding multi-million dollar settlements.
A much sought-after presenter, White regularly lectures on topics of interest to pension trustees on a variety of topics including corporate
governance and portfolio monitoring. White is an advisory board member and educational lecturer for the Florida Public Pension Trustees
Association.
White earned an undergraduate degree in political science from Tufts University and received his J.D. at Suffolk University School of Law.
Paul Zorn
Gabriel Roeder Smith & Company (GRS)
Paul Zorn is the director of governmental research at GRS. Mr. Zorn has considerable expertise in the research sector, having served as a
public-sector benefits researcher for nearly 30 years. During that time, he served as a researcher for the Government Finance Officers
Association (GFOA) and helped the Public Pension Coordinating Council develop one of the first comprehensive surveys of public pension
plans in the U.S.
After joining GRS in 1998, Zorn concentrated on conducting research garnering information on public employee retirement systems, other
post-employment benefit programs, and employer-sponsored health care programs. His research topics include public-sector policies and
trends, federal and state laws, accounting standards, Internal Revenue Service regulations, and Social Security.
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SPECIAL THANKS TO OUR SPONSORS
BNY Mellon Asset Servicing
Kerrie Lloyd, Tom Daniels, Michael Stark,
Thomas Joyce
Gabriel Roeder Smith & Co
Brian Murphy, Randy Dziubek, Paul Zorn
Cavanaugh Macdonald Consulting, LLC
Eric Gary
J.P. Morgan Chase
Mike Milmoe, Brendan McCarthy,
Josh Lavender, John Roth, Jose Ortega
Clifton Gunderson LLP
Owen Ward, Thomas Rey
Orion Development Group
Ralph Smith, Margaret Powers
Duff & Phelps
David Larsen, George Pushner
Saxena White P.A.
Joseph White, Scott Miller
Dwight Asset Management
Sharon Hoppel, Anicia Mendez
Small World Solutions, LLC
Janet Mudge
Fifth Third Bank
Bill McIntyre, Brian Knutson, Rick Dorsten,
Robert Tull
State Street
Glenn Horner, Michael Perkins, Lisa Tyrrell,
Joyce Dardonis, Robert Taylor, Mark Schafer
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P2F2 BOARD AND COMMITTEES
2011 P2F2 Board of Directors
Luke Huelskamp, President ........................................Municipal Employees Retirement System of Michigan
Art Hewig, President-Elect...........................................New York State Teachers Retirement System
Glenna Musselman, Secretary ...................................Iowa Public Employees Retirement System
Beulah Auten, Treasurer..............................................Los Angeles County Employees Retirement Association
Michele Nix, Past President.........................................Missouri State Employees Retirement System
Karen Carraher, Director .............................................Ohio Public Employees Retirement System
Rhonda Covarrubias, Director....................................Texas Municipal Retirement System
Karl Greve, Director......................................................Colorado Public Employees Retirement Association
Dave DeJonge, Director ..............................................Minnesota Public Employees Retirement Association
2011 Conference Committee
Planning Committee:
Dave DeJonge, PERA (Minnesota), Conference Chair
Debra Hembree, PERS (Oregon), Hospitality
Karen Carraher, OPERS (Ohio), Speaker Committee
Rhonda Covarrubias, TMRS (Texas), Hospitality
Michele Nix, MOSERS (Missouri), Sponsor Committee
Gail Strohl, SDCERA (California), Publicity
Dale Orr, PERS (Oregon), Hospitality
Luke Huelskamp, MERS (Michigan), Publicity
Committee Members:
Shonda Bourquin
Karl Greve
Walt Knox
Jack Riley
Patti Brammer
Drucie Haddock
Nancy Mikola
Gwen Ross
Michelle Camuglia
Art Hewig
Kerri Miller
Kurt Weber
Jodi Cox
Judy Hunt
Glenna Musselman
Ken Welch
Dick DeCleene
Darla Iverson
Tim O’Brien
John Wicklund
Jeff Fleck
Bob Johnson
Scott Otto
P2F2 Presidents
2004 – Karen Carraher
2007 – Tony Galaviz
2010 – Luke Huelskamp
2005 – Karen Carraher
2008 – Karl Greve
2011 – Luke Huelskamp
2006 – Virginia Brizendine
2009 – Michele Nix
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Mountains of Change and a Sea of Opportunity
www.p2f2.org