[Federal Register Volume 59, Number 129 (Thursday, July 7, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-16368]
[[Page Unknown]]
[Federal Register: July 7, 1994]
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JOINT BOARD FOR THE ENROLLMENT OF ACTUARIES
Advisory Committee on Actuarial Examinations; Invitation for
Membership on Advisory Committee
The Joint Board for the Enrollment of Actuaries (Joint Board)
established under the Employment Retirement Income Security Act of 1974
(ERISA), is responsible for the enrollment of individuals who wish to
perform actuarial services under ERISA. The Joint Board has established
an Advisory Committee on Actuarial Examinations (Advisory Committee) to
assist in its examination duties mandated by ERISA. The term of the
current Advisory Committee will expire on November 1, 1994. The charter
for the Joint Board's Advisory Committee has been renewed, and a new
Advisory Committee will be formed. This notice describes the Advisory
Committee and invites applications from those interested in service on
it.
1. General
To qualify for enrollment to perform actuarial services under
ERISA, an applicant must have requisite pension actuarial experience
and must satisfy knowledge requirements as provided in the Joint
Board's regulations. The knowledge requirements may be satisfied by
successful completion of Joint Board examinations in basic actuarial
mathematics and methodology, and in actuarial mathematics and
methodology relating to pension plans qualifying under ERISA.
The Joint Board, the Society of Actuaries and the American Society
of Pension Actuaries jointly offer examinations acceptable to the Joint
Board for enrollment purposes and acceptable to those actuarial
organizations as part of their respective examination programs.
2. Purposes
The Advisory Committee plays an integral role in the examination
program by assisting the Joint Board in offering examinations which
will enable examination candidates to demonstrate the knowledge
necessary to qualify for enrollment. The purpose of the Advisory
Committee, as renewed, will remain that of assisting the Joint Board in
fulfilling this responsibility. The Advisory Committee will discuss the
philosophy of such examinations, will review topics appropriately
covered in them, and will make recommendations relative thereto. It
also will recommend to the Joint Board proposed examination questions.
The Joint Board will maintain liaison with the Advisory Committee in
this process to ensure that its views on examination content are
understood.
3. Function
The manner in which the Advisory Committee functions in preparing
examination questions is intertwined with the jointly administered
examination program. Under that program, the participating actuarial
organizations draft questions and submit them to the Advisory Committee
for its consideration. After review of the draft questions, the
Advisory Committee selects appropriate questions, modifies them as it
deems desirable, and then prepares one or more drafts of actuarial
examinations to be recommended to the Joint Board. (In addition to
revisions of the draft questions, it may be necessary for the Advisory
Committee to originate questions and include them in what is
recommended.)
4. Membership
The Joint Board will take steps to ensure maximum practicable
representation on the Advisory Committee of points of view regarding
the Joint Board's actuarial examination extant in the community of
actuaries. In this regard, appointment will be made from the actuarial
community at large and from nominees provided by the actuarial
organizations. Since the members of the actuarial organizations
comprise a large segment of the actuarial profession, this appointive
process ensures expression of a broad spectrum of viewpoints. All
members of the Advisory Committee will be expected to act in the public
interest, that is, to produce examinations which will help ensure a
level of competence among those who will be accorded enrollment to
perform actuarial services under ERISA.
Membership normally will be limited to actuaries previously
enrolled by the Joint Board. However, individuals having academic or
other special qualifications of particular value for the Advisory
Committee's work also will be considered for membership. The Advisory
Committee will be comprised of not more than nine members.
The Advisory Committee will meet about four times a year. Advisory
Committee members should be prepared to devote from 100 to 150 hours,
including meeting time, to the work of the Advisory Committee over the
course of a year. Members will be reimbursed for Advisory Committee
travel, meals and lodging expenses incurred in accordance with
applicable government regulations.
Actuaries interested in serving on the Advisory Committee should
express their interest and fully state their qualifications in a letter
addressed to: Joint Board for the Enrollment of Actuaries, c/o Office
of Director of Practice, Internal Revenue Service, suite 600, 801
Pennsylvania Avenue NW., Washington, DC 20004.
Any questions may be directed to the Joint Board's Executive
Director at 202-376-1421.
The deadline for accepting applications is September 6, 1994.
Dated: June 29, 1994.
Leslie S. Shapiro,
Executive Director, Joint Board for the Enrollment of Actuaries.
[FR Doc. 94-16368 Filed 7-6-94; 8:45 am]
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