American Academy of Actuaries

“The Academy had 19,715 members as of December 31 2024. Members are entitled to attend meetings vote hold office serve as elected Directors make nominations serve on committees and generally exercise the right of full membership.”

“The Academy has members that elect some members of the governing body.”

“Academy Bylaws amendments that are proposed by the Board of Directors that affect the substantive rights of Academy members require an affirmative vote of two-thirds of the members voting.”

“No review was or will be conducted.”

“The Academy requires all members that volunteer on any Academy boards councils committees sub-committees task forces and work groups collectively Committees to acknowledge annually the Academys Conflict of Interest Policy. A formal acknowledgement is provided for this purpose. Volunteers not providing the acknowledgement are removed from their respective Committees. If a real or perceived conflict of interest exists it is reviewed by the respective Committee governing body and Academys General Counsel and may result in removal of the volunteer from their respective Committee or recusal from participating in the affected transaction.”

“The Academy conducts a formal annual compensation study Staff Study every year for all staff other than the Executive Director. The Academy also performs a formal compensation study for the Executive Director every few years. The most recent Executive Director study was conducted in 2019. The studies are conducted by an independent external consultant and include benchmark analysis and specific recommendations on compensation levels. The Staff Study is reviewed by the Academys Personnel and Compensation Committee which approves all non-Executive Director salary grade levels. The Committees deliberations and decisions are contemporaneously documented in meeting minutes. The Executive Director Study is reviewed by the Academys Presidents Performance Committee PC and the President approves the Executive Directors compensation level. The PCs deliberations and decisions are contemporaneously documented by the President.”

“The Academy makes its governing documents Conflict of Interest Policy and most recent audited financial statement available on its website at www.actuary.org.”

“| Description:, Explanation:, Amount:| Pension charges other than net periodic pension costs, Pension charges other than net periodic pension costs, $499593|”