Retirement Plans & Benefits

A Dose of OCIO: From Bayer to Covestro Without the Headache

Prior to 2015, the German-based pharmaceutical giant, Bayer, operated multiple internal business divisions including Health Care, Crop Science and Material Science. Due to a renewed focus on health care and crop science, Bayer initiated a spinoff of the $12.3 billion-dollar Material Science division to form Covestro in September of 2015. This case study focuses on the activities surrounding the $500 million-dollar ERISA qualified defined benefit pension assets that became the responsibility of the new treasury team within Covestro. Dave Montgomery, CTP, describes the internal decision-making process behind hiring a 3(38)-discretionary investment manager, and his experience with the model over the course of the relationship. Andrew Wozniak, head of Fiduciary Solutions within BNY Mellon, discusses the transition through the lens of governance, the regulatory environment, asset allocation (de-risking), the impact of funded status and active/passive management options.

Speaker(s)

Andrew Wozniak, CFA, Head of Fiduciary Solutions, BNY Mellon

David Montgomery, CTP, Head of Treasury & Insurance, CTP, COVESTRO LLC

CTP/CCM Credits: TBD
FP&A Credits: TBD
CPE Credits: TBD
CPE Field of Study: TBD

Key Considerations with Alternative Investments for Pension Plans

When considering whether to add alternative investments to the overall investment strategy of a company’s pension assets, practitioners must weigh the advantages against the potential risks. Within a case study framework this session explores the legal and tax implications of using alternative investments as part of an investment strategy for pension assets, including common terms in agreements, best practices for institutional investors, side letter provisions to negotiate with investment funds, and strategies to minimize risk exposure to unrelated business income tax (UBTI).

Speaker(s)

Kendall Frederick, CTP, FP&A, Director, Enterprise Risk Management, Hanesbrands Inc.

Todd Solomon, Partner, McDermott Will & Emery LLP

Brian Tiemann, Partner, McDermott Will & Emery LLP

CTP/CCM Credits: TBD
FP&A Credits: TBD
CPE Credits: TBD
CPE Field of Study: TBD

Proven Partnering Practices for Best-in-class Retirement Programs

The challenge of managing costs, reducing risk and ensuring compliance, within a complex regulatory and legislative environment while still achieving high participant satisfaction is a great one. This case study explores the dynamics of treasury, finance and human resources partnering techniques utilized by PATH, an international nonprofit organization and leader in global health innovation. Attendees of this session walk away with best practices that generate a 98% participation rate and high asset retention, including financial wellness programs, while building a framework for measuring the success of the 401(k) plan and strategies to effectively communicate with participants.

Speaker(s)

Mary Ellen Mullen, Principal, Bridgebay Consulting LLC

Andre Mueller, Accounting Manager Global Expenses, PATH

CTP/CCM Credits: TBD
FP&A Credits: TBD
CPE Credits: TBD
CPE Field of Study: TBD