[Federal Register Volume 85, Number 186 (Thursday, September 24, 2020)]
[Notices]
[Pages 60267-60268]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-21039]
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JOINT BOARD FOR THE ENROLLMENT OF ACTUARIES
Invitation for Membership on Advisory Committee
AGENCY: Joint Board for the Enrollment of Actuaries.
ACTION: Request for applications.
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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 has 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, 2021.
This notice describes the Advisory Committee and invites applications
from those interested in serving on the Advisory Committee for the
March 1, 2021-February 28, 2023, term.
DATES: Applications for membership on the Advisory Committee must be
received by the Joint Board, by no later than December 4, 2020.
ADDRESSES: Send applications electronically with APPLICATION FOR
ADVISORY COMMITTEE inserted in subject line to NHQJBEA@irs.gov. See
SUPPLEMENTARY INFORMATION for application requirements.
FOR FURTHER INFORMATION CONTACT: Elizabeth Van Osten, Designated
Federal Officer, Advisory Committee on Actuarial Examinations, at 202-
317-3648 or Elizabeth.j.vanosten@irs.gov.
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 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.
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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 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) developing and reviewing examination
questions, (3) recommending proposed 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
Members are appointed for a 2-year term. The upcoming term will
begin on March 1, 2021, and end on February 28, 2023. 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. Due to the COVID-19 pandemic,
meetings will be held by teleconference until travel restrictions are
lifted and in-person meetings can be held safely. 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 also will 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
NHQJBEA@irs.gov. The transmittal email should include APPLICATION FOR
ADVISORY COMMITTEE in the subject line. Applications must be received
by December 4, 2020.
Dated: September 18, 2020.
Thomas V. Curtin, Jr.
Executive Director, Joint Board for the Enrollment of Actuaries.
[FR Doc. 2020-21039 Filed 9-23-20; 8:45 am]
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