President's Message (May 11, 2011)

Dear Academy colleague,

I hope that by now you have had the chance to read my column in the March/April issue of Contingencies, in which I took the opportunity to highlight a set of proposals to improve the U.S. actuarial profession's discipline process. These changes are intended to increase efficiency and create greater consistency among discipline outcomes. In my column, I also promised to make every effort to explain the changes in detail, so that you will have all the facts needed to make an informed decision before voting on any of the bylaws changes that are required to ratify the proposal. That process begins today.

The presidents of the participating actuarial organizations are taking the first step today by formally introducing this proposal to you in a joint letter to the members of the Academy, ASPPA College of Pension Actuaries, Casualty Actuarial Society, Conference of Consulting Actuaries, and Society of Actuaries. Within that letter are links to two additional resources: a set of questions and answers (Updated July 11, 2011) about the proposal and a hypothetical case study that compares the current process to the proposed process. These materials are the first in a series of communications to explain the changes. Stay tuned for more information. We will continue to work to answer any questions you may have about the proposal.

I hope that you will agree that this is an important step forward for the U.S. profession and join me in ratifying the proposed changes.

Sincerely,

Mary Frances Miller
President
American Academy of Actuaries