2017 Public Pensions and Investments Fiduciaries' Forum
Nossaman’s Public Pensions & Investments Fiduciaries’ Forum – a decades-long tradition – was held again in 2017, hosted by Ashley Dunning and Yuliya Oryol.
Thursday, November 30, 2017
Registration: 2:30 - 3:00 p.m.
Le Méridien San Francisco – 2nd Floor
Fiduciary Challenges in an Evolving Legal Landscape: 3:00 - 5:00 p.m.
How do Boards of Retirement develop fiduciarily sound policies on investments and benefits that evolve to address present challenges? How does staff implement those policies and establish appropriate procedures in the face of stakeholder disputes, public critiques, investment contract negotiation, litigation challenges, conflict of interest risks, and other fiduciary headwinds? This panel will examine the various roles and responsibilities of people connected with public pension systems – retirement board members, chief executive officers, chief investment officers, investment and benefits staff, inside counsel and outside counsel. What level of fiduciary standard of care should systems insist on in connection with investment documentation? When do Boards or staff decide an investment is not prudent, and whose responsibility is it to put the brakes on? How do Boards and staff properly exercise their fiduciary duties of loyalty and care in response to beneficiary and plan sponsor demands, and in the context of threatened or pending litigation? What about potential or actual conflicts of interests of board members and staff? This panel will examine high level case studies, with guidance from recent court decisions and FPPC advice letters, to address this complex topic.
Presented by Ashley Dunning, Yuliya Oryol, and Peter Mixon
Welcome Reception: 5:30 - 6:30 p.m.
Dinner & Keynote Speaker: 6:30 - 9:00 p.m.
Waterbar, 399 The Embarcadero
Friday, December 1, 2017
Continental Breakfast: 8:00 - 9:00 a.m.
Le Méridien San Francisco - 2nd Floor
Participating Employer Audits: Continuing and Upcoming Challenges: 9:00 - 10:00 a.m.
This panel will explore complicated aspects of participating employer audits that promise to create continuing challenges for California public retirement systems. Statutorily authorized audits include determining the correctness of (1) retirement benefits, (ii) reportable compensation, (iii) enrollment in; and (iv) reinstatement to, the retirement system. This panel will discuss legal nuances of each aspect such as reviews and different approaches to conducting them in a fiduciarily appropriate manner.
Presented by Ashley Dunning, John Kennedy, and Peter Mixon
20-Minute Hot Topic Updates -- With Key Take Aways for Retirement Systems: 10:00 – 11:20 a.m
Update 1: Cybersecurity and Privacy: How Protected Is Your Data?
Presented by Thomas Dover and David Lee
Update 2: Coverage: How Protected Are Your Assets?
Presented by Jim Vorhis
Update 3: FATCA, IRS Audits and Other Tax Issues: What You Don’t Know May Hurt You
Presented by Doug Schwartz
Update 4: Developments in Subscription Agreements and Booklets
Presented by Courtney Krause and Yuliya Oryol
Understanding Investment Documentation (Public and Private Markets): 11:30 a.m. – 12:30 p.m.
This panel will review the different types of investment vehicles available to fund managers and investors for both the public markets and private markets transactions, and the pros and cons of investing in each. The panel will examine investment management agreements, funds of one, commingled funds, collective investment trusts, limited partnerships, limited liability companies, and more, and when – and why – it may be better to select one structure over another depending on the circumstances. The panel will also describe the key components of an LPA.
Presented by Yuliya Oryol and David Kimport
Lunch Session: How to Speak to the Media to Manage a Crisis: 1:00 – 2:00 p.m.
This interactive discussion will provide tips from a media consultant regarding how to develop an issues management plan that ensures a quick response that stays consistent across the organization to rebuild your reputation and regain public trust. Tracy Williams will discuss best practices that will help you prepare and provide an all-hands-on-deck response when your phones are ringing off the hook.
Presented by Tracy Williams, President & CEO, Olmstead Williams Communications, Inc.
Moderator: Peter Mixon, Partner, Nossaman LLP