HARRISBURG HILTON

                                    WILL HOST THE

                                                          2025 FALL WORKSHOP

                                                         NOVEMBER 18-19, 2025                                                  

Registration is NOW open for the PAPERS 2025 Fall Workshop, the premier Pennsylvania Public Employee pension system event. EARLY bird conference registration rates are in affect now through October 18th; hotel room conference rates through October 26th.

Registration is at 11:00 a.m. on Tuesday, November 18 in the Juniata Room, and the workshop will begin with lunch at Noon. The workshop will end at noon on Wednesday, November 19.

Registration Cost           Early Bird (thru 10/18)     Standard (10/19)
Participating Member             $125                                 $150
Associate Member                  $850                                 $875
Affiliate Member                      $425                                 $450
Sustaining Member                 $100                                 $100

 

Please note, your PLAN or COMPANY membership must be current to register.


To REGISTER for the Fall Workshop, click here: https://papers.memberclicks.net/fallworkshop2025

To SPONSOR the Fall Workshop, click here: https://papers.memberclicks.net/sponsor

 For HOTEL reservations, click here: https://group.hilton.com/wztnz7


To make room reservations by phone, please call Harrisburg Hilton at 1-717-233-6000, enter Option 1 for new reservations and provide the group code 90L.  Please note, discounted rates and availability in the room block are not guaranteed. 


DRAFT AGENDA

Tuesday, November 18

 11:30 OR 12:00 – 1:00 PM                   LUNCH

 1:00 – 1:50 PM | Session 1                Governance in Action: What Works (and What Doesn’t)                                                                        for Pension Boards
Mercer and Cumberland County

 Presenters:

• Kelly Neiderer, County Commissioner   • Stephen Sherman, County Controller
Strong governance is at the heart of every successful pension system. This session brings together experienced voices to explore the realities of pension board service—the successes, struggles, and the lessons learned along the way. Panelists will share best practices for building effective boards, discuss common pitfalls to avoid, and offer practical insights to help trustees and staff navigate today’s governance challenges.

1:50 – 2:40 PM | Session 2
               Behind the Numbers: Common Issues in Municipal                                                                             Pension Audits
A.G. DeFoor’s Office                            

Presenters:
• Gordon Denlinger  
• Lisa Snyder
• Gerry Saliba
Every audit tells a story—and municipal pension audits are no exception. This session, led by the leadership team from the Auditor General’s Bureau of Municipal Pension Audits, will highlight the most common issues uncovered during the audit process and why they matter. Panelists will share real-world examples and discuss recurring challenges faced by municipalities.

2:40 – 2:50 PM
                                           COFFEE BREAK


2:50 – 3:40 PM | Session 3               The Current Legislative Outlook and Pension Landscape
 

NCPERS

 Presenter:

 • William Whitman, Director of Membership & Strategic Alliances

 William Whitman, Director of Membership & Strategic Alliances at NCPERS, will provide an update on the current legislative environment and its implications for public pensions. His presentation will highlight key policy developments, emerging challenges, and opportunities impacting retirement systems nationwide.

3:40 – 4:30 PM | Session 4               Who Wants to Live Forever After Working to 100

GRS

Presenter:
• Kevin Noelke 
Do you know that most standard mortality tables have no mortality rates past age 120? Do you wonder if they will ever extend beyond 120 years? If you do, you are not alone. This session will offer thoughts on demographic trends including expectations of long-term fertility and mortality directions, and limits to improvements in longevity. Join us as we compare valuation sensitivity to mortality rates and other demographic assumptions and attempt ranking assumptions based on their importance.

Wednesday, November 19


7:30 – 8:30 AM                                           BREAKFAST

 8:30 – 9:20 AM | Session 5                    How Hungry Are You? Setting Risk Appetite

PSERS

Presenter:
• Eric Decker, Chief Risk Officer 
This session examines how organizations define and manage their risk appetite to align with investment strategy and fiduciary responsibility. Participants will explore how public funds assess tolerance for volatility, the tools used to measure and monitor risk exposure, and how to balance ambition with prudence in portfolio decision-making.

 9:20 – 10:10 AM | Session 6            Investing with Purpose: Achieving Goals & Managing                                                                         Risk in Public Pension Plans

 Moderated by Wilshire

Presenters:
• Wilshire
• Ryan Schultz, Sr. VP, Neuberger Berman 
• Jerry Pryor, Mt. Lucas  
This session explores why clear investment goals are critical for public pension plans and how to effectively mitigate risks in an ever-changing market. Join our expert panel as they share strategies, real-world examples, and actionable insights to help plans stay on track and protect members’ retirement security.

 10:10 – 10:20 AM                                COFFEE BREAK

10:20 – 11:10 AM | Session 7          Rates, Risks & Politics: Navigating Markets in Uncertain                                                                     Times


Presenters:
• Dan Berry, Federated Hermes   • John Trydahl, Income Research + Management  
Explore the foundational role of interest rates in financial markets, from historical trends shaped by politics to today’s complex economic landscape. This session examines the potential impact of the 2025 trade war, offers insights on portfolio positioning at the asset-class level, and cuts through the political noise to anticipate the Federal Reserve’s next moves. Understand how rates, risk, and the political divide between Republicans and Democrats could shape investment strategies for the future.

 11:10 – 12:00 PM | Session 8          Bond 101: Making Sense of the Basics and Beyond

 Jennison Associates

Presenter:
• Sam Kaplan
Demystify bonds and discover how they fit into a public plan’s overall asset allocation. This session covers the essentials—what investment-grade bonds are, why duration and convexity matter, and how core bond managers aim to outperform the Aggregate Index. Learn how bonds interact with equities, why the yield curve matters, and gain practical insights to make bonds work smarter in your portfolio.