Society of Actuaries

“The executive committee consists of four officers, one at large bod member and the ceo. The executive committee has the authority to carry out the business and functions of the soa between meetings of the board of directors. The executive committee is the principal committee for the oversight and management of the work of the soa.”

“The organization has an annual election in which most members have the opportunity to participate and vote on board members.”

“The organization has an annual election in which most members have the opportunity to participate and vote on board members. The bylaws may be altered, amended, or repealed and new bylaws may be adopted by an affirmative vote of two-thirds of the entire board of directors; but provisions affecting the substantive rights of the soa's members also require the affirmative vote of two-thirds or at least twenty-five percent of fellows, if at a meeting, or a majority of fellows entitled to vote, if in writing.”

“See response to question 7a.”

“The return was prepared by our outside tax advisor and reviewed by management. The audit and risk committee then reviewed the return with our outside tax advisor and provided further comments before they approved it for filing with the irs. This review conducted by the audit committee is consistent with their duties outlined in their charter.”

“Any individual involved in an soa activity or decision-making process has an obligation to disclose annually any conflicting or potentially conflicting personal, professional, or business interest he or she may have, directly or indirectly, with the affected activity or decision. All forms are collected by the appropriate internal staff member. Participants remain under a continuing obligation to report conflicts as they arise. The board may require regular reporting at the start of board, committee, section council, and other meetings. If it is determined that a conflict of interest exists, the matter is then brought to the ceo, who serves as the soa conflicts administrator. The conflicts administrator in consultation with legal counsel and/or the executive committee, assesses the significance of a given interest or relationship to the soa and determines the appropriate action. If the individual cannot otherwise resolve the conflict, the executive committee may require any action it deems appropriate, including recusal from voting on the matter, complete recusal from a portion of the meeting or from other consideration of the subject matter, or replacing the individual in the affected position or activity.”

“A compensation study is performed every other year to complete a market comparison study for all positions of the organization. Additionally, market data is gathered each year to determine the annual compensation adjustment for all employees. The presidential officers and the secretary/treasurer, with input from the board, are responsible for determining compensation and benefits for the ceo after reviewing comparable data from several independent sources. Additionally, the presidential officers and the secretary/treasurer review management's recommendation for annual compensation adjustments for officers and key employees. The discussion and process are contemporaneously documented in the minutes.”

“The governing documents are available on the website, soa.org.”

“Compensation reported in part vii, has been paid by a related organization and common paymaster, society of actuaries research institute, ein 36-2136422. The compensation being reported is for full time positions, however a portion of these individual's time is devoted to the filing organization and is reimbursed by the filing organization. Society of actuaries research institute has complied with payroll tax filing requirements.”

“Examination grading 6,189,412. Hr expense 141,973. Professional fees 3,099,862. International actuarial association dues 523,835.”

“Unrealized currency gain -18,844.”