Casualty Actuarial Society

“The board delegated the review of the 990 to the cas audit committee. The audit committee reports to the cas board of directors, and has at least 3 board members on it. The board delegated the following board duties to the executive council: prescribe admission requirements, admit new members, authorize the creation and discharge of committees, call meetings of the cas and the cas institute, act on applications to create regional affiliates, act on applications to create special interest sections, and approve the president's position description.”

“The organization has fellows, associate and affiliate members. Fellows are eligible to vote, hold office, make nominations, and generally exercise the rights of full membership. Associate members over five years are eligible to vote in elections. Associate members are entitled to attend meetings and participate in society functions. Affiliate members support the mission and activities of the organization.”

“Fellow members can vote for president-elect and directors, and on bylaws and constitution changes. Associate members that have been members for over five years can vote for president-elect and directors.”

“Changes to constitution and bylaws need to be approved by vote from fellow members.”

“The board delegates the review and approval of 990 forms to audit committee. The board reviews the form after it is filed.”

“Conflict of interest statements are required of all board members, executive council members, and key staff members. Statements are updated annually. Generally if there is a conflict of interest, that person will be recused from decision making/voting. The board chair monitors the conflict of interest policy for board members. If a conflict is identified that board member will recuse themselves from discussions and votes.”

“Ceo compensation is set by the president, president-elect and board chair. Merit increases and bonuses are performancebased and directly tied to accomplishing goals agreed to at the beginning of the year. Ceo salary is validated against similar type organizations/positions using salary surveys. Other compensation is validated against similar type organizations/positions using salary surveys and independent compensation/benefit reviews are conducted every 5 years. The process described here was last completed in 2021. In 2024 cas established a human capital and compensation committee that provides input on ceo and c-suite compensation package."”

“The governing documents are posted on the casualty actuarial society (cas) website. Annual financials are also published in cas annual report and available upon request. The conflict of interest policy is made available to the public upon request.”

“Change in pension liability -214,268.”