This special one day program will provide you with the working knowledge you need to understand and manage the myriad of retirement plan cost issues that affect Government contracts. The information will be presented by nationally-recognized professionals, and will cover the full range of accounting, legal and actuarial issues that affect retirement plans.

Defined benefit retirement plans present some of the most troublesome elements of costs for organizations that contract with the Federal Government. In large part, these difficulties result from the inherent complexity of the matters involved: The computation of pension costs is subject to diverse requirements, including the Cost Accounting Standards (CAS), the Federal Acquisition Regulation (FAR), the Employee Retirement Income Security Act (ERISA), the Internal Revenue Code (IRC), the Financial Accounting Standards (FAS) and, in some cases, special contractual agreements and CAS waivers. The arcane nature of retirement plan cost calculations, coupled with the maze of regulatory requirements, pose enormous challenges for contractors and Government personnel alike. And these challenges have been exacerbated by several years of poor performance in the U.S. capital markets, which are resulting in skyrocketing pension costs.

In addition to information-packed presentations, attendees will receive a comprehensive Manual of reference materials for use during the program and as a reference source after the program has been completed.

1. Basics of Qualified Pension Costs
   
   1. Pension Costs Under CAS, FAR, ERISA and FAS 87: a Primer
      
   2. Emergence From Full Funding
      
   3. Accounting for CAS/ERISA and CAS/FAS Differentials
      
   4. Forward Pricing Process
      
   5. Composite Accounting Versus Segment Accounting
      
   6. Treatment of Inactive Participants
      
   7. Corporate Segment
      
   8. Prepayment Credits and Unallowable Costs
      
   9. Severance and Early Retirement Incentives
      
   10. Disclosure Statement Issues
       
   11. Documentation and Records Retention
       
   12. CAS Waivers
       
   13. Strategies
       

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2. Qualified Pension Costs: Common Problems
   
   1. Investment Return and Other Actuarial Assumptions
      
   2. Forward Pricing Rates
      
   3. Balance Test
      
   4. Maintenance of Records During Full Funding
      
   5. Contribution Timing
      
   6. Cost Accounting Practice Changes
      
   7. Impact of Mergers and Divestitures
      
   8. Segment Consolidation
      

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3. Nonqualified Pension Costs
   
   1. CAS and FAR Requirements
      
   2. Pay-As-You-Go Versus Accrual Accounting
      
   3. Acceptable Funding Vehicles
      

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4. Postretirement Benefits
   
   1. Primer on FAS Requirements and Current Treatment Under CAS, FAR and ERISA
      
   2. Accrual Accounting Versus Pay-As-You-Go
      

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5. Segment Closings
   
   1. General Concept
      
   2. Divestitures, Curtailments and Plan Termination
      
   3. Court Cases
      
   4. New CAS vs. Old CAS
      
   5. Data Requirements
      
   6. Actuarial Assumptions
      
   7. Impact of Nonqualified Pension and PRBs
      
   8. Accounting Issues in Periods Following Segment Closing

John B. McQuade President of Pine Cliff Consulting, actuarial consulting firm providing specialized retirement plan services to Government contractors • Has consulted extensively on the interplay between the procurement rules, ERISA requirements and financial accounting standards affecting pension and postretirement benefit costs • Wide experience in retirement-plan issues involved in acquisitions, divestitures and litigation for contractors • Active participant in industry associations • Fellow of the Society of Actuaries; Member of the American Academy of Actuaries; an Enrolled Actuary under ERISA • Bachelor of Arts degree in mathematics from Bates College.

Terry L. Albertson is a Partner in the Washington, D.C. law firm of Crowell & Moring LLP, specializing in Government procurement law. Mr. Albertson is active in a number of trade and professional organizations. For several years, he served as Chairman of the Committee on Accounting and Cost and Pricing of the Public Contract Law Section of the American Bar Association. A member of The Government Contractor Advisory Board, he has written and lectured frequently on Government procurement issues, with special emphasis on cost allowability issues, multiple award Federal Supply Schedule contracts, and issues related to fraud, debarment, and suspension. He received a Bachelor's degree from Georgetown University, magna cum laude, a Master's degree from Yale University, and a law degree from Harvard Law School, cum laude. He is a member of the Bars of the State of Maryland and the District of Columbia.