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Old 02-07-2019, 10:29 AM
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Default How to Start an Actuarial Club

My area has seen a lot of Actuarial growth in the last 5-10 years, and I was thinking it would be great if there was a way for the Actuaries at the different companies to get to know each other.

Does anyone have any experience starting an Actuarial club? I've never been in one before, so I have lots of questions:
  1. What do you do at meetings?
  2. Since there would be multiple practice areas present, I would think the common thing to talk about is professionalism. Could a presentation count for CPD purposes?
  3. How many times a year do you meet?
  4. Do you ask companies to pay a due?
  5. Is it restricted to credentialed Actuaries, or do you let everyone employed as an actuary participate?
  6. Do you include local universities?

These are more questions around what to do after the club is set up. I know who to contact to get the word out, but do I just go and set up a bank account for the club and tell people to join? I have floated the idea past a few Actuaries in my area, and I think it would be positively received.
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Old 02-07-2019, 10:55 AM
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Originally Posted by BruteForce View Post
My area has seen a lot of Actuarial growth in the last 5-10 years, and I was thinking it would be great if there was a way for the Actuaries at the different companies to get to know each other.

Does anyone have any experience starting an Actuarial club? I've never been in one before, so I have lots of questions:
  1. What do you do at meetings?
  2. Since there would be multiple practice areas present, I would think the common thing to talk about is professionalism. Could a presentation count for CPD purposes?
  3. How many times a year do you meet?
  4. Do you ask companies to pay a due?
  5. Is it restricted to credentialed Actuaries, or do you let everyone employed as an actuary participate?
  6. Do you include local universities?

These are more questions around what to do after the club is set up. I know who to contact to get the word out, but do I just go and set up a bank account for the club and tell people to join? I have floated the idea past a few Actuaries in my area, and I think it would be positively received.
  1. We get speakers from multiple practice areas (but primarily life, because life actuaries are the bulk of our membership) to make presentations to our club.
  2. Yes, professionalism counts. Contact the AAA; we've had great success with them sending out a speaker ever year (for free).
  3. Four, but one is a social outing. So three meetings eligible for CPD.
  4. No, we ask members to pay a due, and typically their employers will pick up the tab, or part of the tab.
  5. Anyone who has passed at least one actuarial exam, or who is in actuarial management, is eligible for membership.
  6. We don't contact them about membership, but they are not prohibited from joining. I don't believe we have any current members who are students.
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Old 02-07-2019, 10:56 AM
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Old 02-07-2019, 11:03 AM
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These are more questions around what to do after the club is set up. I know who to contact to get the word out, but do I just go and set up a bank account for the club and tell people to join? I have floated the idea past a few Actuaries in my area, and I think it would be positively received.
We have a checking and savings account for our club at a local bank. Look into getting an accountant, though...your club will most likely be a nonprofit and there are special tax filings you'll need to be aware of.
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Old 02-07-2019, 11:16 AM
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Originally Posted by NerdAlert View Post
  1. We get speakers from multiple practice areas (but primarily life, because life actuaries are the bulk of our membership) to make presentations to our club.
  2. Yes, professionalism counts. Contact the AAA; we've had great success with them sending out a speaker ever year (for free).
  3. Four, but one is a social outing. So three meetings eligible for CPD.
  4. No, we ask members to pay a due, and typically their employers will pick up the tab, or part of the tab.
  5. Anyone who has passed at least one actuarial exam, or who is in actuarial management, is eligible for membership.
  6. We don't contact them about membership, but they are not prohibited from joining. I don't believe we have any current members who are students.
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We have a checking and savings account for our club at a local bank. Look into getting an accountant, though...your club will most likely be a nonprofit and there are special tax filings you'll need to be aware of.
Thank you! This is the exact information I needed.

Can I ask how much your dues are? I was thinking in the $25-$50 range is reasonable.
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Old 02-07-2019, 11:19 AM
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Thank you! This is the exact information I needed.

Can I ask how much your dues are? I was thinking in the $25-$50 range is reasonable.
We charge $20 per member for annual dues, and we also charge per meeting, to cover costs of lunch and a meeting space. That is in the $30 range, because we've found a decent venue that is reasonably priced. Obviously YMMV.

For the social event, we invite both members and non-members, and both pay their own way, but we give a small discount to members - we make up the cost of that with their dues.
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Old 02-07-2019, 11:20 AM
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Thanks NA!
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Old 02-07-2019, 11:27 AM
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but why
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Old 02-07-2019, 11:29 AM
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but why
See the first sentence of the first post.
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Old 02-07-2019, 03:18 PM
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See the first sentence of the first post.
Question still stands, imo. If anything actuaries need to branch out outside of actuarial circles. I think joining a local business professionals club would be better. Clubs aren't my kind of thing anyways.
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