Agenda ( updated 11/19/2013 )


Thursday, November 21

7:30 am - 8:30 am    Continental Breakfast
8:30 am - 8:40 am    Welcoming Remarks and Conference Overview
        Sandra Pianalto, Federal Reserve Bank of Cleveland —  

   Public Pension Funding

     Moderator: John Carlson, Federal Reserve Bank of Cleveland

8:40 am - 9:35 am    The Role of Economic, Fiscal, and Financial Shocks in the Evolution of Public Sector Pension Funding
        Bob Triest, Federal Reserve Bank of Boston —  ,  
      Bo Zhao, Federal Reserve Bank of Boston

      Discussant: Gregory Mennis, The Pew Charitable Trusts
      Discussant: Travis St. Clair, University of Maryland
9:35 am - 10:20 am    Public Employee Pensions: Do Long Time Horizons Allow for Low, Stable Contributions?
        Andrew Biggs, American Enterprise Institute —  ,  

      Discussant: Jean-Pierre Aubry, Center for Retirement Research
10:20 am - 10:30 am    Break
10:30 am - 11:15 am    Fairness and Risk Sharing Across Generations
        Thomas Gilbert, University of Washington
      Christopher Hrdlicka, University of Washington
—  ,  

      Discussant: Richard Kopcke, Center for Retirement Research —  
11:15 am - 12:30 pm    Panel Discussion on Implications of Pension Underfunding
        Alan Milligan, California Public Employees’ Retirement System
      John Sinsheimer, State of Illinois
      Donald J. Boyd, SUNY Rockefeller Institute of Government

      Moderator: Matt Fabian, Municipal Market Advisors
12:30 pm - 1:45 pm    Luncheon & Keynote
  The Low Interest Rate Environment
      Mark Sniderman, Federal Reserve Bank of Cleveland

   Public Pension Fund Strategies for Investment

     Moderator: Paula Tkac, Federal Reserve Bank of Atlanta

1:45 pm - 2:30 pm    Pension Fund Asset Allocation and Liability Discount Rates
        Aleksandar Andonov, Maastricht University
      Rob Bauer, Maastricht University
      Martijn Cremers, University of Notre Dame
—  ,  

      Discussant: Stephen Buser, The Ohio State University Fisher College of Business
2:30 pm - 3:15 pm    Alternate Investments: State and Local Pension Portfolio Use and Performance
        G. Paul Rose, The Ohio State University
      Jason S. Seligman, The Ohio State University John Glenn School of Public Affairs
—  ,  

      Discussant: Lukasz Pomorski, Bank of Canada
3:15 pm - 3:30 pm    Break

  Public Pension Plan Design and Implications for Financial Stability

3:30 pm - 4:45 pm    Panel Discussion on Public Pension Plan Design
        Preston Rutledge, US Senate Committee on Finance
      Jagadeesh Gokhale, Cato Institute
      Jeffrey Brown, University of Illinois
      William Fornia, Pension Trustee Advisors

      Moderator: Jeffrey Brown, University of Illinois
4:45 pm - 5:15 pm    Closing Comments and Reflections on Financial Stability Implications
        Paula Tkac, Federal Reserve Bank of Atlanta
5:15 pm - 5:30 pm    Break
5:30 pm - 7:00 pm    Reception

Friday, November 22

7:00 am - 8:00 am    Continental Breakfast
8:00 am - 8:45 am    Opening Keynote: Reflections on Rhode Island’s Public Pension Reform
        Richard Licht, Rhode Island Department of Administration —  

  Legal Perspectives on Public Pension Reform

8:45 am - 10:45 am    Panel Presentations and Discussion on Legal Reforms to Mitigate Pension Underfunding
  Can Constitutionally-Mandated Funding Requirements Fix the Public Pension Problem
      Amy B. Monahan, University of Minnesota Law School —  

Funding Discipline for U.S. Public Pension Plans: An Empirical Analysis of Institutional Design
      Natalya Shnitser, Yale Law School

Direct Democracies and State Fiscal Crises: The Problem of Too Much Law
      Peter Conti-Brown, Stanford Law School

      Moderator: Jonathan Forman, University of Oklahoma
10:45 am - 11:00 am    Break
11:00 am - 12:30 pm    Panel Discussion on Challenges in Implementing Public Pension Reform
        Sandy Matheson, Maine Public Employee Retirement System —  
      Maris E. LeBlanc, Louisiana State Employees Retirement System
      Paul Doane, St. Paul Teachers’ Retirement Fund Association

      Moderator: Amy B. Monahan, University of Minnesota Law School
12:30 pm - 1:45 pm    Luncheon & Keynote
  Perspectives on Municipal Bankruptcy
      Clayton Gillette, New York University School of Law
1:45 pm - 2:00 pm    Closing Comments and Adjournment
        Mark Sniderman, Federal Reserve Bank of Cleveland

* Speakers names are in bold