[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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