Practice Note on ASOP No. 56, 'Modeling:' A Discussion of the Exposure Draft
Practice Note on ASOP No. 56, Modeling: A Discussion of the Exposure Draft
Tuesday, Nov. 17, 2020 | 3:30–5 p.m. EST | USQS CE Eligible and JBEA CPE Eligible
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- Members: $50
- Nonmembers: $100
- Government regulators are invited free of charge. Gwen Pegram at firstname.lastname@example.org to receive a discount code to register.
Group Registration for Academy Members: $250 (read the policy)
ABOUT THIS WEBINAR
Join members of the Academy’s Pension Committee for an overview of the recently released exposure draft of a practice note, Modeling—For Pension Actuaries, that provides background and ideas about how pension actuaries may be approaching Actuarial Standard of Practice (ASOP) No. 56, Modeling, which took effect on Oct. 1, 2020. Speakers discuss the implications for pension actuaries, as outlined by the draft practice note, of the new cross-practice ASOP. The discussion will help inform the Pension Committee as it works toward publishing a final practice note.
Margaret Berger, MAAA, FSA, FCA, EA
Member, Pension Committee
Grace Lattyak, MAAA, FSA, FCA, EA
Member, Pension Committee
Bruce Cadenhead, MAAA, FSA, FCA, EA
Chairperson, Pension Committee
CONTINUING EDUCATION AND JBEA CPE CREDIT
The American Academy of Actuaries believes in good faith that attendance at this live webinar constitutes an organized activity as defined under the current Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States, and that attendees may earn up to 1.8 organized and continuing education (CE) credits for attending this live webinar.
We also believe in good faith that Enrolled Actuaries may earn 1.8 continuing professional education (CPE) core credits under the JBEA rules for attending this live webinar. However, the JBEA ultimately determines what constitutes core, non-core, ethics, or non-ethics continuing education and the number of CPE credit hours allocated to same for Enrolled Actuaries.
NOTE ON JBEA CPE CERTIFICATE OF ATTENDANCE
You will not be able to receive a certificate of attendance for listening to any recorded webinars. In order to receive a JBEA CPE Certificate of Attendance you must attend the live event, follow the instructions provided during the live event, and request your certificate by completing the online form within 30 days of attending the live event.
Under the JBEA regulations, there must be three or more people involved in substantive pension services physically present at your webinar location to constitute formal CPE. However, the JBEA on August 10 announced that it is waiving the physical presence requirement for CPE credit for any formal programs conducted from Jan. 1, 2020, through Dec. 31, 2022. The Joint Board made this decision due to the hardships that the COVID-19 pandemic has caused, particularly those involving traveling to and participating in gatherings requiring close contact with others.
Enrolled actuaries are still required to earn the same number of credit hours under formal programs that would otherwise be required. Although the physical presence requirement is temporarily waived, the other requirements for a formal program continue to apply, including all requirements for a qualifying program under the Joint Board regulations, attendance by at least three participants engaged in substantive pension service, and an opportunity for participants to interact with the instructor during the program. In addition, the certificate of completion or instruction issued by a qualifying sponsor of the program must indicate that the program is a formal program.
GROUP REGISTRATION POLICY
While many people are working remotely, the Academy is offering group registrations to employers of our members. The registrant must be an Academy member and must provide the names and email addresses on behalf of the employer of all attendees by emailing email@example.com. An Excel document is preferred. Attendee names must be submitted within 24 hours of the webinar. Please make sure to specify the name, date, and time of the webinar your group is planning to attend. Failure to submit attendee names will result in no longer being able to register your group for future webinars.
The registrant will receive one computer connection (link) to the webinar. You can then use a platform of your company’s choosing (Zoom, WebEx etc.)* to stream the live event to remote attendees. The registrant is also responsible for making this live webinar presentation accessible to group attendees, who must be employees of the same company. There are no phone connections provided by the Academy with this registration—audio will be streamed via the web.
* The Academy does not take responsibility for ensuring the live webinar can be seen and heard through the registrant’s broadcasting platform. Group registration fees for the live webinar do not include access to the archive recording, except for Academy members who may access an archive of all Academy webinars in the members-only section of the Academy’s website.
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