truthinaccounting.blogs.com > 2/16/07 IFTA/JMLS Pension Seminar

Head of John Marshall Law School Acting Dean Corkery's Welcome

Head of John Marshall Law School Acting Dean Corkery's Welcome

John Marshall Law School Acting Dean John Corkery welcomes guests to the workshop.


Professor Kathryn Kennedy Welcome

Professor Kathryn Kennedy Welcome

Kathryn Kennedy, director of the JMLS Center for Tax Law and Employee Benefits, welcomes guest to workshop.


Kevin Hull's Welcome

Kevin Hull's Welcome

Kevin Hull, JMLS Director of Alumni Relations, thanks guests for their attendance at the workshop.


Sheila and Barry's Welcome

Sheila and Barry's Welcome

Barry Kozak, JMLS Associate Director of Employee Benefits, and Sheila Weinberg, IFTA Founder & CEO, outline the format and goals of the the workshop.


Workshop Speakers & Faculty

Workshop Speakers & Faculty

Front row-left to right-Lance Weiss, James Spiotto, Charles Whelan and Fred Giertz
Back row-left to right-Ann Lousin, Sheila Weinberg, Barry Kozak, Dawn Clark Netsch and Steve D'Arcy


Workshop Speakers and Faculty

Workshop Speakers and Faculty

Front Row Left to Right-Sheila Weinberg, Ann Lousin, Barry Kozak. Back Row Left to Right-Kathryn Kennedy, Fred Giertz, John Corkery, Charles Whelan, James Spiotto, Steve D'Arcy, Jim Covinton and Lance Weiss


Panel Informs the Audience

Panel Informs the Audience

Left to right-Ann Lousin, James Spiotto, Charles Whelan, Fred Giertz, Steve D'Arcy, Lance Weiss and Dawn Clark Netsch


The Panel and Audience

The Panel and Audience


Fred Giertz

Fred Giertz

Provides a General Overview of Illinois Public Sector Pension Plans


Ann Lousin

Ann Lousin

Discusses Illinois State Constitutional protection of benefits


Dawn Clark Netsch

Dawn Clark Netsch

Discusses who in Illinois is legally responsible to ensure proper funding


Sheila Weinberg

Sheila Weinberg

Discusses how the Illinois Budgets can be balanced, yet the State continually runs deficits.


James Spiotto

James Spiotto

Provides an overview of the possible legal meltdown: who and when can someone sue for improper funding or accounting


Lance Weiss

Lance Weiss

Discusses actuarial targets and best practices for proper funding


Steve D'Arcy

Steve D'Arcy

Tells the audience the risk of businesses' and taxpayers' flight if state taxes are too high to fund overpromised pension benefits


Charles Whelan

Charles Whelan

Highlights how funding of public sector pension plans fit into all of the expenses incurred by the state (education, healthcare, retiree health benefits …)


Lance Weiss

Lance Weiss


Dawn Clark Netsch

Dawn Clark Netsch

Answers audience questions


Barry Kozak

Barry Kozak

Moderates the conference


James Spiotto and Charles Whelan

James Spiotto and Charles Whelan


The panel answers questions from the audience

The panel answers questions from the audience


Panel members continue to answer questions

Panel members continue to answer questions

Charles Whelan, Fred Giertz, Steve D'Arcy and Lance Weiss



Audience members

Audience members


Audience members

Audience members


Ann Lousin

Ann Lousin

Answers audience questions


Ann Lousin

Ann Lousin


Dawn Clark Netsch

Dawn Clark Netsch

Happy to share her experience and expertise with the audience


Lance Weiss

Lance Weiss

Answers audience questions


Charles Whelan

Charles Whelan

answers audience questions


Sheila Weinberg

Sheila Weinberg

Answers audience questions


Sheila Weinberg

Sheila Weinberg


James Spiotto

James Spiotto

Answers questions from the audience


Audience member, Rick Skiba

Audience member, Rick Skiba

Ask panel questions


Jim Covington Provides Guidance

Jim Covington Provides Guidance

Jim Covington, director of Legislative Affairs at the Illinois State Bar Association, provides guidance for the workshop's breakout sessions.


Breakout Session-Aligning Incentives

Breakout Session-Aligning Incentives

Stephen D'Arcy, professor of Finance at the University of Illinois at Urbana–Champaign (right), and Charles Wheelan, lecturer at The Harris School of Public Policy at the University of Chicago (not pictured), lead discussion regarding aligning incentives-where do pension liabilities fit in with all other State expenditures.


Breakout Session-Funding Targets and Asset Investment Strategies

Breakout Session-Funding Targets and Asset Investment Strategies

Lance Weiss, Consulting Actuary at Deloitte Consulting LLP (far left), and Barry Kozak, JMLS (center of right group), lead discussion regarding pension plans' funding targets and asset investment strategies.


Breakout Session-Protected Benefits and Benefits Promises

Breakout Session-Protected Benefits and Benefits Promises

J. Fred Giertz, professor of Government & Public Affairs at the University of Illinois at Urbana–Champaign (far right), and James Spiotto, partner Chapman and Cutler LLP (his back to the camera), lead discussion of protected pension benefits for current State employees and benefit promises for future State employees.


Breakout Session-Disclosure of Liabilities

Breakout Session-Disclosure of Liabilities

Ann Lousin, professor of Law at The John Marshall Law School (far left), and Sheila Weinberg, Institute for Truth in Accounting Founder & CEO (center), lead discussion about the disclosure of Illinois' liabilities and strategies to educate the public and policymakers.


Audience Listens to Panel

Audience Listens to Panel