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Committee Detail

Hide Section - GENERAL INFORMATION

GENERAL INFORMATION

Committee NameAdvisory Committee on Actuarial ExaminationsAgency NameJoint Board for the Enrollment of Actuaries
Fiscal Year2019Committee Number126
Original Establishment Date12/2/1976Committee StatusChartered
Actual Termination Date Committee URL 
New Committee This FYNoPresidential Appointments*No
Terminated This FYNoMax Number of Members*9
Current Charter Date10/17/2016Designated Fed Officer Position Title*DFO
Date Of Renewal Charter10/17/2018Designated Federal Officer PrefixMs.
Projected Termination Date Designated Federal Officer First Name*Elizabeth
Exempt From Renewal*NoDesignated Federal Officer Middle NameJ.
Specific Termination AuthorityAGENDesignated Federal Officer Last Name*VanOsten
Establishment Authority*Agency AuthorityDesignated Federal Officer Suffix
Specific Establishment Authority*AGENDesignated Federal Officer Phone*202-317-3648
Effective Date Of Authority*12/2/1976Designated Federal Officer Fax*202-317-3415
Committee Type*ContinuingDesignated Federal Officer Email*elizabeth.j.vanosten@irs.gov
Presidential*No
Committee Function*Non Scientific Program Advisory Board
Hide Section - RECOMMENDATION/JUSTIFICATIONS

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*Continue
Legislation to Terminate RequiredNo
Legislation StatusNot Applicable
How does cmte accomplish its purpose?*During fiscal year 2018, the Joint Board for the Enrollment of Actuaries administered three examinations in actuarial mathematics and methodology pursuant to its mandate under the Employee Retirement Income Security Act of 1974 (ERISA). The Committee rendered valuable and unique assistance to the Joint Board by recommending topics to be covered and questions to be asked on the examinations. Such recommendations are necessary to enable the Joint Board to perform its enrollment function. In additon, the Committee reviewed and evaluated other issues relating to the examinations as the Joint Board deemed necessary.
How is membership balanced?*The Committee represents a broad range of actuarial expertise and experience from a cross-section of the enrolled actuary community. The Joint Board ensures that most viewpoints extant in the enrolled actuary community are represented on the committee by appointng several members from each of the main practice areas, including small employer plans, large employer plans, and multiemployer plans. In addition, the Joint Board appoints members from different geographic locations. Before appointing new members, the Joint Board evaluates the existing composition of the Committee and, to the extent possible, makes selections that ensure that diverse points of view are represented on the Committee.
How frequent & relevant are cmte mtgs?*The Committee meets approximately four times each fiscal year. The Joint Board exams are developed acccording to a specified timetable and meetings are scheduled at key points in the exam development process.
Why advice can't be obtained elsewhere?*Because the Joint Board is the only federal agency responsible for writing actuarial examinations and setting other criteria to determine actuaries' qualifications for enrollment under ERISA, the functions the Committee performs cannot be obtained from other sources within the government. Moreover, the Committee's functions cannot be performed by members of the Joint Board. The Joint Board consists of five federal government employees, three from the Department of the Treasury and two from the Department of Labor. In addition, a non-voting representative from the Pension Benefit Guaranty Corporation is apporinted to the Board. Each Joint Board member has a full-time government position unrelated to the work of the Joint Board. The Joint Board members have determined that shouldering the entire responsibility for the design and preparation of examinations would entail too great a sacrifice of their other governmental responsibilities.
Why close or partially close meetings?In order to prevent compromises of the examination process, it is necessary to close portions of meetings during which the Committee develops questions for inclusion on future examinations and reviews and sets passing scores for recently administered exams.
Recommendation RemarksN/A
Hide Section - PERFORMANCE MEASURES

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*NoAction Reorganize Priorities*No
Outcome Trust In GovernmentNoAction Reallocate ResourcesNo
Outcome Major Policy ChangesNoAction Issued New RegulationsNo
Outcome Advance In Scientific ResearchNoAction Proposed LegislationNo
Outcome Effective Grant MakingNoAction Approved Grants Or Other PaymentsNo
Outcome Improved Service DeliveryYesAction OtherNo
Outcome Increased Customer SatisfactionYesAction CommentNA
Outcome Implement Laws/Reg RequirementsNoGrants Review*No
Outcome OtherNoNumber Of Grants Reviewed0
Outcome CommentNANumber Of Grants Recommended0
Cost Savings*$100,001 - $500,000Dollar Value Of Grants Recommended$0.00
Cost Savings CommentNAGrants Review CommentNA
Number Of Recommendations*328Access Contact Designated Fed. Officer*Yes
Number Of Recommendations CommentEach fiscal year, the Advisory Committee prepares and recommends 3 examinations and 2 examination program booklets. In addition, the Advisory Committee recommends a passing score for each of the 3 examinations given in that fiscal year.Access Agency WebsiteNo
% of Recs Fully Implemented*99.00%Access Committee WebsiteNo
% of Recs Fully Implemented CommentTo date, the Joint Board has accepted approximately 99 percent of recommendations made by the Advisory Committee..Access GSA FACA WebsiteYes
% of Recs Partially Implemented*1.00%Access PublicationsNo
% of Recs Partially Implemented CommentNAAccess OtherNo
Agency Feedback*YesAccess CommentN/A
Agency Feedback CommentThe Joint Board meets with the Advisory Committee to discuss examination questions and topics, as well as exam results.Narrative Description*The Joint Board administers three examinations pursuant to its mandate under the Employee Retirement Income Security Act of 1974. The Joint Board strives to ensure that its examinations are fair and reflect current developments in actuarial mathematics and methodology. The Advisory Committee, which consists of members representing a broad range of expertise and experience, supports this mission by rendering valuable and unique assistance to the Joint Board regarding examination topics and questions.
Hide Section - COSTS

COSTS

Payments to Non-Federal Members* Est Payments to Non-Fed Members Next FY* 
Payments to Federal Members* Est. Payments to Fed Members Next FY* 
Payments to Federal Staff* Estimated Payments to Federal Staff* 
Payments to Consultants* Est. Payments to Consultants Next FY* 
Travel Reimb. For Non-Federal Members* Est Travel Reimb Non-Fed Members nextFY* 
Travel Reimb. For Federal Members* Est Travel Reimb For Fed Members* 
Travel Reimb. For Federal Staff* Est. Travel Reimb to Fed Staff Next FY* 
Travel Reimb. For Consultants* Est Travel Reimb to Consultants Next FY* 
Other Costs Est. Other Costs Next FY* 
Total Costs$0.00Est. Total Next FY*$0.00
Federal Staff Support (FTE)* Est. Fed Staff Support Next FY* 
Hide Section - MEMBERS,MEETINGS AND ADVISORY REPORTS

MEMBERS,MEETINGS AND ADVISORY REPORTS

To View all the members, meetings and advisory reports for this committee please click here
Hide Section - CHARTERS AND RELATED DOCS

CHARTERS AND RELATED DOCS

No Documents Found
Hide Section - DATA FROM PREVIOUS YEARS

DATA FROM PREVIOUS YEARS

Committee

Data from Previous Years

  
ActionCommittee System IDCommittee NameFiscal Year
 COM-032578Advisory Committee on Actuarial Examinations2018
 COM-001978Advisory Committee on Actuarial Examinations2017
 COM-002411Advisory Committee on Actuarial Examinations2016
 COM-004176Advisory Committee on Actuarial Examinations2015
 COM-004333Advisory Committee on Actuarial Examinations2014
 COM-006278Advisory Committee on Actuarial Examinations2013
 COM-006487Advisory Committee on Actuarial Examinations2012
 COM-008420Advisory Committee on Actuarial Examinations2011
 COM-008642Advisory Committee on Actuarial Examinations2010
 COM-010442Advisory Committee on Actuarial Examinations2009
 COM-010619Advisory Committee on Actuarial Examinations2008
 COM-012303Advisory Committee on Actuarial Examinations2007
 COM-012776Advisory Committee on Actuarial Examinations2006
 COM-013891Advisory Committee on Actuarial Examinations2005
 COM-014665Advisory Committee on Actuarial Examinations2004
 COM-015803Advisory Committee on Actuarial Examinations2003
 COM-016654Advisory Committee on Actuarial Examinations2002
 COM-018079Advisory Committee on Actuarial Examinations2001
 COM-018305Advisory Committee on Actuarial Examinations2000
 COM-020023Advisory Committee on Actuarial Examinations1999
 COM-020498Advisory Committee on Actuarial Examinations1998
 COM-021919Advisory Committee on Actuarial Examinations1997