Enron investigator headlines Branson conference

The conference, which is registered with the National Association of State Boards of Accountancy, provides information for individuals who work in the qualified retirement plan industry.

“(Eischen) said people think that (Enron’s collapse) had everything to do with employer security, the Enron stock. But he said it didn’t; they were doing a lot of things wrong. It didn’t have anything to do with stock; it had to do with fiduciary responsibilities,” said conference administrator Chris Thixton.

Eischen will lead the session, “Getting It Right – Knowing Your Fiduciary Responsibilities.”

“The Enron case has increased the focus on fiduciary duty at many levels within the employee benefit community,” Eischen said in a March 28 news release.

Legislative updates designed to help plan sponsors understand how the changes in Congress will affect their businesses are also a part of the conference. Clif Petty, associate professor of management at Drury University and a senior researcher with Springfield-based Pension Consultants Inc., will be leading a session on changes in mutual funds that will significantly impact shareholders.

“There are some forces coming together to make the shareholder vote more important,” Petty said.

At the end of the two-day conference attendees are allowed to ask a panel questions about their own business during a roundtable discussion.

Attendees

On average about 80 attend the conference. Last year, 94 attended, coming closer to the conference goal of 100 attendees.

Gaye Odom, financial manager at Wright, Lindsey & Jennings LLP in Little Rock, Ark., said the trip to Branson is worth it.

“I’ve never seen a conference comparable to the Pension Focus conference. This conference is one seminar with multiple breakout sessions. To get another one like that, it’d probably be a week in Dallas or a week in Atlanta,” Odom said “You can go (to Branson) and it’s cheaper than a one-day seminar here.”

The conference offers nine hours of continuing education, which helps attendees such as Odom meet yearly professional requirements.

Conference costs

Registration fees are the main source of revenue for the conference, Thixton said, adding that no vendors are allowed.

“With any conference you ever go to, there is somebody selling something. If we ever changed it … it would compromise the integrity of Pension Focus,” Thixton said.

Pension Consultants Inc. is the primary sponsor for the conference, helping to keep costs down by providing the manpower for the event. However, Thixton noted, while the two share staff members, Pension Focus and Pension Consultants Inc. are separate entities with separate finances.

“The reason it is not the Pension Consultants Inc. conference is because again, it comes back to an integrity issue,” Thixton said.

However, he noted, Pension Consultants does encourage its clients to attend Pension Focus, and will even help cover the cost.

While the budget is tight for Pension Focus, Thixton said the cost – which he declined to disclose – is manageable and worth it.

“It’s multiple thousands of dollars. It’s a considerable cost. (The conference) is not rolling in the dough, but if we can break even and do what it’s destined to do, we are good,” Thixton said.

To make sure that the conference is giving attendees information they need, Pension Focus provides evaluation forms for feedback.

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