Conversion / Implementation Team Leader Roundtable
2017 Annual Meeting
Promoting Quality Payroll Feeds To Enhance Retirement Plan Services
June 7/8/9, 2017
Chicopee, MA
Hosted by: MassMutual Financial Group
*Registration requires an invitation code
MEETING OBJECTIVE
Forum for Conversion / Transition / Implementation team leaders of retirement plan firms to exchange ideas and practices, with the ultimate goal of enhancing the effectiveness of business processes and team management. This meeting will include peer discussions, breakout sessions, and research presentations. Questions discussed are those suggested by attendees in the registration process. There are no minutes of this meeting.
AUDIENCE
Attendance is by invitation only. The invitation is extended to New Business Conversion / Transition / Implementation team leads at retirement plan service providers (data analysis, and conversion consultants). Invitation is extended to firms operating in the following markets: Across distribution channels (bank, direct, consultant, adviser, brokerage, TPA, agent and others) Large and jumbo plans Micro, small and mid-sized plans
- Defined contribution plan (401(k), 403(b), 457, 1165(e) and Group RRSPs)
- Defined benefit and hybrid plans
- Corporate, government, Taft-Hartley and not-for-profit markets
- Across distribution channels (consultant, adviser, brokerage, TPA, bank, direct, agent and others)
- Large and Jumbo plans
- Micro, small and mid-sized plans
DATE, TIME, VENUE, DRESS CODE
June 7, 2017
3:00 p.m. — Depart MassMutual Learning and Conference Center
4:00 p.m. — Tour of the Mark Twain House - Hartford CT
6:00 p.m. — Dinner at Trumbull Kitchen - Hartford CT
June 8, 2017
8:00 a.m. Continental Breakfast
8:30 a.m. to 5:00 p.m. – Sessions
6:00 p.m. Reception
6:30 p.m. Dinner
June 9, 2017
8:00 a.m. Continental Breakfast
8:30 a.m. to 12:05 p.m. – Sessions
12:05 p.m. Lunch boxes and adjourn
12:30 p.m. Shuttle to the airport
Venue
MassMutual Learning and Conference Center
350 Memorial Drive
Chicopee, MA 01020
Dress Code
Casual for the pre-event, Business Casual for meetings and event dinner
AGENDA
Wednesday June 7, 2017
3:00 p.m. Transportation to Hartford
4:00 p.m. Tour of the Mark Twain House
6:00 p.m. Dinner at Trumbull Kitchen
Thursday June 8, 2017
8:00 a.m Continental breakfast buffet
8:30 a.m. Welcome and Introductions by host - MassMutual Financial Group
8:45 a.m. Advisor / Consultant Perspectives On Plan Transitions
This General Session provides an opportunity for attendees to ask questions about the conversion / implementation process from advisors representing different segments of the population of plan advisors (generalist advisor, retirement plans specialist, benefits broker or consultant, investment consultant)
Panelists: Three Advisors To Be Announced - Across plan asset size and business models
Moderators: Eric Henon and Pat Advaney
Meeting Room: Auditorium
9:45 a.m. Break
10:00 a.m. The Conversion / Implementation Process: Balancing Efficiency, Quality, and Capacity
Moderated Peer Discussion Roundtables
From the receipt of the letter of intent to the handoff to the account management team, the process can be organized in many ways. In this session, we will explore the diversity of onboarding processes – from the definition of a “good-order” or “complete” application / work item, to the timing of the handoff to the Account Management team. The functionality of pre-conversion participant websites will be a discussion of particular interest, in relationship of the date of receipt of the first payroll feed and test file. The Large and Jumbo Plans breakout groups will address what differentiates “custom”, “customized” and “standard” services agreements and how their respective usage level impacts efficiency and quality.
Small-Micro Plans Market (Under $30 million)
Moderator: Josh Dietch
Room: Chicopee
Mid-sized and Large Plans Market ($30 million - $300 million)
Moderator: Pat Advaney
Room: Auditorium
Jumbo Plans Market ($300 million plus)
Moderator: Eric Henon
Room: West Springfield
11:00 a.m. Transition
11:05 a.m. Strategic Issues and Hot Topics
Moderated Peer Discussion Roundtables
At this session, we will discuss:
- New and pending jurisprudence/litigation, regulation, and legislative proposals,
- Retirement Plan Recordkeeper Consolidation,
- Conversions of Closed Blocks, and
- Hot Topics suggested by registered attendees in the week preceding the meeting
Small-Micro Plans Market (Under $30 million)
Moderator: Pat Advaney
Room: Chicopee
Mid-sized and Large Plans Market ($30 million - $300 million)
Moderator: Eric Henon
Room: Auditorium
Jumbo Plans Market ($300 million plus)
Moderator: Josh Dietch
Room: West Springfield
12:05 p.m. Lunch
12:45 p.m. Data Quality: Enhancing Payroll Feeds to Deliver Outsourced Services
Moderated Peer Discussion Roundtables
It is not only the quality of data received from the prior recordkeeper that matters. The quality of the payroll data received periodically from the plan sponsors or its payroll vendors impacts the ability to deliver outsourced services, and the level of operational risk to which we are exposed. At this session, we will discuss what we can do at the time of conversion to affect the payroll choices and practices of plan sponsors so we can execute on services agreements. What data governance practices do we put in place? How do these practices impact the services agreement? What resources do we allocate to payroll systems maintenance and development? What data processing tools have we found helpful to migrate data from payroll service providers?
Small-Micro Plans Market (Under $30 million)
Moderator: Eric Henon
Room: Chicopee
Mid-sized and Large Plans Market ($30 million - $300 million)
Moderator: Josh Dietch
Room: Auditorium
Jumbo Plans Market ($300 million plus)
Moderator: Pat Advaney
Room: West Springfield
2:15 p.m. Transition
2:20 p.m. Driving Plan Sponsor and Advisor Engagement
Moderated Peer Discussion Roundtables
The level of client and advisor engagement is a key driver of transition success. Our ability to deliver services depends in part on the timely receipt of key information during the transition process. The rising popularity of ERISA 3(38) services will hopefully have sped up the receipt of final investment arrays and mapping strategy for those plan that use a mapping strategy. Receipt of a final array is a major hurdle in many situations today. Timely receipt of executed services agreement, of a clean census or payroll feed needed to turn on functionality on the pre-conversion participant website are key drivers of the client experience. For some employers in transition, the retirement plans is a REALLY important matter. Others are more motivated by cost and convenience. How we convince the latter category to take the necessary steps is the task at hand.
Small-Micro Plans Market (Under $30 million)
Moderator: Josh Dietch
Room: Chicopee
Mid-sized and Large Plans Market ($30 million - $300 million)
Moderator: Pat Advaney
Room: Auditorium
Jumbo Plans Market ($300 million plus)
Moderator: Eric Henon
Room: West Springfield
3:45 p.m. Break
4:00 p.m. Committee Reports and Discussion of Recommendations
General Session
Meeting Room: Auditorium
At this session, committees will present and discuss the outcome of their deliberations with the entire Roundtable.
Defining Positions In the Conversion / Implementation Team
Standardization of Payroll Files
5:00 p.m. Adjourn for the day
6:00 p.m. Reception
MassMutual Learning and Conference Center Courtyard
6:30 p.m. Dinner
MassMutual Learning and Conference Center Courtyard
Friday June 9, 2017
8:00 a.m Continental breakfast buffet
8:30 a.m. Post-implementation Evaluation of Conversion Success: Processes and Metrics
Moderated Peer Discussion Roundtables
Post implementation, firms use a variety of sources to collect metrics of conversion success: client feedback, data quality audits/error rates, cost analysis, services rolled out, timeliness – What mix works? What are the caveats? What is the correlation between all these metrics? What are we really measuring besides client commitment? What is worthy of incentive compensation? What is a solid metric for rewards and recognition? What data point is a strong indicator of quality and what do we do with the information?
Small-Micro Plans Market (Under $30 million)
Moderator: Pat Advaney
Room: Chicopee
Mid-sized and Large Plans Market ($30 million - $300 million)
Moderator: Eric Henon
Room: Auditorium
Jumbo Plans Market ($300 million plus)
Moderator: Josh Dietch
Room: West Springfield
9:45 a.m. Break
10:00 a.m. Research Program Results: Implications, Recommendations, Discussion
General Session
Presenters / Moderators: Brian Neligan and Eric Henon
Meeting Room: Auditorium
The 2016-2017 research program will address issues prioritized by the research planning committee. One goal is to obtain broad participation (20+ firms). To achieve this goal, the program is divvied up into multiple studies, each addressing a specific need. Data collection not be limited to company practices surveys. For instance, one goal could be to sensitize plan sponsors to the importance of payroll data quality and the implication of poor payroll data quality on ERISA fiduciary liability, retirement outcome metrics, administrative burden, operating cost, and yes, the employer’s ability to transition to a new provider. Company practices surveys will explore new territory – such as the functionality of pre-conversion websites, services in the ERISA mid-market, payroll feed integration, team organization by “standard” position, and other questions to be decided.
11:00 a.m. Transition
11:05 a.m. Team Leadership
Moderated Peer Discussion Roundtables
Managing conversion / implementation teams is foremost about managing the human resource: talent acquisition, talent development, supervision, performance management, motivation, rewards, recognition, and retention. How well the team performs its task impacts the firm’s business performance for years. It is critical to attract and retain the best talent, and to stay at peak capacity through up and down sales cycles. Managing a conversion / implementation team means more than managing the client onboarding function. Because of the unique skill set of staff, conversion implementation teams play a role in a broad range of activities: finalist presentations, RFP reviews, strategic initiatives, special projects (client and company-level), M&A, and deconversions.
Small-Micro Plans Market (Under $30 million)
Moderator: Josh Dietch
Room: Chicopee
Mid-sized and Large Plans Market ($30 million - $300 million)
Moderator: Eric Henon
Room: Auditorium
Jumbo Plans Market ($300 million plus)
Moderator: Pat Advaney
Room: West Springfield
12:05 p.m. Lunch
12:30 p.m. Adjourn and shuttle to the airport
PRE-EVENT
4:00 p.m. - Tour of the Mark Twain House
Mark Twain House and Museum
351 Farmington Avenue
Hartford, CT 06105
6:00 p.m. - Dinner at Trumbull Kitchen
"Trumbull Kitchen is a stylish restaurant serving an elegant and eclectic mix of cuisine. The young-professional set packs this trendy spot most nights and weekends, creating a happening bar scene..” CT Now
Trumbull Kitchen
150 Trumbull Street
Hartford, CT 06101
860-493-7492
HOTEL / TRANSPORTATION
A block of rooms has been reserved at the MassMutual Learning and Conference Center in Chicopee, MA. The cost is $115.00 per night not including taxes and incidentals (payment due at checkout time.) For reservations please check the appropriate box when you register. Book early - the number of guest rooms at the MassMutual Learning and Conference Center is limited. Additional rooms have been reserved at the Hampton Inn in Chicopee.
MassMutual Learning and Conference Center
350 Memorial Drive
Chicopee, MA 01020
Rental cars are recommended for transportation between Bradley International Airport and MassMutual Learning and Conference Center. Transportation provided between hotel / conference center, Mark Twain House, and Trumbull Kitchen.
REGISTER
Registration requires an invitation code. Payments by credit card, debit card, check or bank transfer.
Registration Deadlines and Cost Per Attendee
| Registration deadline: | Roundtable |
| On or before October 31, 2016 | $1200 |
| Between November 1, 2016 and December 31, 2016 | $1400 |
| After December 31, 2016 | $1650 |
Additional cost for the pre-event.
Cancellation Policy
EACH Enterprise, LLC will refund your entire meeting fee if you cancel on or before December 31, 2016. For cancellations between January 1, 2017 and May 24, 2017, EACH Enterprise, LLC will refund your registration fee minus an administration fee of $175. No refunds for cancellations after May 24, 2017. In the unlikely event that the number of registered attendees falls short of expectations, EACH Enterprise, LLC will refund the entire registration fee.
