2019-02625. Invitation for Membership on Advisory Committee

AGENCY:

Joint Board for the Enrollment of Actuaries.

ACTION:

Request for applications.

SUMMARY:

The Joint Board for the Enrollment of Actuaries (Joint Board), established under the Employee Retirement Income Security Act of 1974 (ERISA), is responsible for the enrollment of individuals who wish to perform actuarial services under ERISA. To assist in its examination duties mandated by ERISA, the Joint Board established the Advisory Committee on Actuarial Examinations (Advisory Committee) in accordance with the provisions of the Federal Advisory Committee Act (FACA). The current Advisory Committee members' terms expire on February 28, 2019. On September 27, 2018, the Joint Board published a Federal Register notice, at 83 FR 48867, inviting applications for membership on the Advisory Committee for the upcoming term of March 1, 2019—February 28, 2021. However, the Board did not receive sufficient applications to fill all positions on the Advisory Committee; thus, it has decided to re-open the applications period. Applications made under the prior notice will continue to be considered and do not have to be resubmitted. This notice describes the Advisory Committee and invites applications from those interested in serving on the Advisory Committee for the period May 1, 2019—February 28, 2021.

DATES:

Applications for membership on the Advisory Committee must be received by no later than March 19, 2019.

ADDRESSES:

Applications must be sent electronically to [e-mail]. SUPPLEMENTARY INFORMATION for application requirements.

FOR FURTHER INFORMATION CONTACT:

Elizabeth Van Osten, Designated Federal Officer, at 202-317-3648.

SUPPLEMENTARY INFORMATION:

1. Background

To qualify for enrollment to perform actuarial services under ERISA, an applicant must satisfy certain experience and knowledge requirements, which are set forth in the Joint Board's regulations. An applicant may satisfy the knowledge requirement through the 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 Professionals & Actuaries jointly offer examinations acceptable to the Joint Board for enrollment purposes and which are acceptable to the other two actuarial organizations as part of their respective examination programs

2. Scope of Advisory Committee Duties

The Advisory Committee plays an integral role in the examination program by assisting the Joint Board in offering examinations that enable examination candidates to demonstrate the knowledge necessary to qualify for enrollment. The Advisory Committee's duties, which are strictly advisory, include (1) recommending topics for inclusion on the Joint Board examinations, (2) reviewing and drafting examination questions, (3) recommending examinations, (4) reviewing examination results and recommending passing scores, and (5) providing other recommendations and advice relative to the examinations, as requested by the Joint Board.

3. Member Terms and Responsibilities

Generally, members are appointed for a 2-year term. However, members selected pursuant to this notice will be appointed for 22 months, beginning May 1, 2019, and ending February 28, 2021. Members may seek reappointment for additional consecutive terms.

Members are expected to attend approximately 4 meetings each calendar year and are reimbursed for travel expenses in accordance with applicable government regulations. In general, members are expected to devote 125 to 175 hours, including meeting time, to the work of the Advisory Committee over the course of a year.

4. Member Selection

The Joint Board seeks to appoint an Advisory Committee that is fairly balanced in terms of points of view represented and functions to be performed. Every effort is made to ensure that most points of view extant in the enrolled actuary profession are represented on the Advisory Committee. To that end, the Joint Board seeks to appoint several members from each of the main practice areas of the enrolled actuary profession, including small employer plans, large employer plans, and multiemployer plans. In addition, to ensure diversity of points of view, the Joint Board limits the number of members affiliated with any one actuarial organization or employed with any one firm.

Membership normally will be limited to actuaries currently enrolled by the Joint Board. However, individuals having academic or other special qualifications of particular value for the Advisory Committee's work will also be considered for membership. Federally-registered lobbyists and individuals affiliated with Joint Board enrollment examination preparation courses are not eligible to serve on the Advisory Committee.

5. Member Designation

Advisory Committee members are appointed as Special Government Employees (SGEs). As such, members are subject to certain ethical standards applicable to SGEs. Upon appointment, each member will be required to provide written confirmation that he/she does not have a financial interest in a Joint Board examination preparation course. In addition, each member will be required to attend annual ethics training.

6. Application Requirements

To receive consideration, an individual interested in serving on the Advisory Committee must submit (1) a signed, cover letter expressing interest in serving on the Advisory Committee and describing his/her professional qualifications, and (2) a resume and/or curriculum vitae. Applications must be submitted electronically to the attention of Ms. Elizabeth Van Osten at [e-mail]. In all cases, the cover letter must contain an original signature. Applications made under the prior notice will continue to be considered and do not have to be resubmitted. Applications must be received by no later than March 12, 2019.

Dated: February 11, 2019.

Thomas V. Curtin, Jr.,

Executive Director, Joint Board for the Enrollment of Actuaries.