[Federal Register Volume 71, Number 211 (Wednesday, November 1, 2006)]
[Notices]
[Pages 64297-64298]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 06-8992]


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JOINT BOARD FOR THE ENROLLMENT OF ACTUARIES


Advisory Committee on Actuarial Examinations; Invitation for 
Membership on Advisory Committee

AGENCY: Joint Board for the Enrollment of Actuaries.

ACTION: Withdrawal of notice inviting membership on advisory committee; 
notice inviting membership on advisory committee.

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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. The Joint Board has established 
an Advisory Committee on Actuarial Examinations (Advisory Committee) to 
assist in its examination duties mandated by ERISA. The Joint Board 
published a Federal Register notice at 71 FR 30649, May 30, 2006, 
inviting membership on the Advisory Committee. That notice did not 
reflect the Joint Board's decision to extend the appointment term of 
current Advisory Committee members. Therefore, this document withdraws 
the previous notice and gives new notice inviting membership. In 
accordance with the Joint Board's decision, the appointment term of 
current Advisory Committee members will expire on February 28, 2007. 
This notice describes the Advisory Committee and invites applications 
from those interested in serving on it.

1. General

    To qualify for enrollment to perform actuarial services under 
ERISA, an applicant must have requisite pension actuarial experience 
and 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 Professionals & 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. Programs

    The Advisory Committee plays an integral role in the examination 
program by assisting the Joint Board in offering examinations that 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 that 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. Membership 
terms are at the sole discretion of the inviting authority and are not 
necessarily concurrent with the duration of the Advisory Committee 
charter. The Advisory Committee will meet about four times a year. 
Advisory Committee members should be prepared to devote from 125 to 175 
hours, including meeting time, to the work of the Advisory Committee 
over the course of a year. Members will be reimbursed for travel 
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 Internal 
Revenue Service, Attn: Executive Director SE: OPR, Room 7238, 1111 
Constitution Avenue, NW., Washington, DC 20224.

[[Page 64298]]

    Any questions may be directed to the Joint Board's Executive 
Director at 202-622-8229.
    The deadline for accepting applications is December 15, 2006.

    Dated: October 11, 2006.
Patrick W. McDonough,
Executive Director, Joint Board for the Enrollment of Actuaries.
[FR Doc. 06-8992 Filed 10-31-06; 8:45 am]
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