[Federal Register Volume 61, Number 97 (Friday, May 17, 1996)]
[Notices]
[Pages 24953-24954]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-12492]
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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
[[Page 24954]]
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, 1996. 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 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 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 3, 1996.
Dated: May 9, 1996.
Robert I. Brauer,
Advisory Committee Management Officer, Joint Board for the Enrollment
of Actuaries.
[FR Doc. 96-12492 Filed 5-16-96; 8:45 am]
BILLING CODE 4830-01-U
