Welcoming Remarks
NCPERS President Elmer J. Khal

Good morning and welcome to the 2005 Annual Legislative Conference. My name is Elmer Khal, President of NCPERS.

I want to personally thank each of you for making a special effort to attend this year's conference. Our pension funds are facing critical issues. It is important that your elected representatives hear from you about these issues and why they are important.

As trustees and administrators, you have an excellent opportunity to share your knowledge and insight with the members of Congress. You are their experts on public pension funds. I know you are up to the challenge and will represent your funds effectively today and tomorrow on Capitol Hill.

I would like to extend a special welcome to the President of NCTR, George Philip and the officers and members in attendance. I would also like to extend a special welcome to the President of NASRA, Dave Bergstrom and the officers and members in attendance.

I also want to extend a special welcome to the officers and executive board members of NCPERS who are with us today and thank them for their support and commitment to our legislative program.

I believe this joint legislative conference is the largest in our history, with over 260 in attendance. We have an excellent program for you--one that focuses on the issues facing our funds today.

There are some old issues that we will discuss. However, there are many new issues that we have to learn about as they could impact our funds. I know you are up to the challenge and are looking forward to the expert presentations that will be made by our speakers.

I also want to extend a special invitation to each of you to attend our annual trustee educational seminar and conference on April 30-May 6 in Anaheim, California. We have planned an excellent program tailored to the needs of our trustees and administrators.

Elmer J. Khal, president of NCPERS, served as an elected Trustee for the Ohio Police and Firemen's Disability and Pension Fund for 14 years. He retired from the Cleveland Fire Department after 34 years of service.

Welcoming Remarks
Elmer J. Khal
NCPERS President

The US Economy in 2004
Kristin J. Forbes, Member
The White House Council of Economic Advisers

Political Overview of the 108th Congress and Elections
Jack Germond
Keynote Speaker

Outlook on Administration’s Pension Activities for 2004: Will Public Pensions be Affected?
William Sweetnam
Benefits Tax Counsel, Department of the Treasury

Social Security: What's Ahead in this Congress?
Kim Hildred
Staff Director, Ways and Means Subcommittee on Social Security

Tom Klouda
Social Security General Assistant, Senate Finance Committee

How Will the New Medicare Prescription Drug Bill Affect Public Retirees?
Madeline Smith
Professional Staff, House Ways and Means Subcommittee on Health

Kate Leone
Legislative Assistant, Office of Sen. Tom Daschle (SD)

Legislative Overview of the 108^th Congress
Frederick H. Nesbitt
NCPERS Executive Director and Legislative Counsel

Health Care Issues for Public Employees and Retirees
Mark Goldberg
Senior Vice President for Policy and Strategy
National Coalition on Health Care

Paul Zorn
Gabriel, Roeder, Smith and Company

Hank H. Kim, JD
NCPERS Director of Governmental Relations and Counsel

Outlook on Pension Legislation This Year
Scott DeFife
Senior Policy Analyst, Office of Minority Leader Steny Hoyer (MD)

Investment Issues Affecting the Security of Plan Assets
Ann Yerger
Deputy Director, Council on Institutional Investors