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  #61  
Old 11-16-2017, 09:21 PM
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CAS leverage ratio much more reasonable, natch.

http://www.casact.org/about/thecas/a...eport-2016.pdf
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  #62  
Old 11-17-2017, 10:57 AM
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A fairer comparison to the American situation might be to add AAA dues to SOA or CAS fees as the FIA effectively provides what the AAA plus CAS or SOA provides in total. Similarly, the CIA fee covers for Canadians what the combined American entities provide.

Alan
Very true. $1,265 is for FSAs & ASAs who became ASAs in 2014 or earlier who are also Academy members. (Not sure why newer ASAs get a break... because they're presumably also taking exams???) That's with zero section memberships.
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  #63  
Old 11-17-2017, 11:06 AM
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Holy crap you guys are sitting on a pile of cash.

https://www.soa.org/about/2016-year-review.pdf
Thanks for posting. For those of you who don't want to download & scroll through a lot of "rah rah, SOA" silliness, At the end of 2016 the SOA had $43,020,000 in "membership equity", which represented a $1,497,000 increase over 2015.

Revenue was $52,745,000 which breaks down as:
Exams: $29,680,000
Dues: $12,899,000
PD: $ 7,016,000
Other: $ 3,150,000

They don't provide expenses, but I think we can deduce that they are roughly:

$52,745,000 Revenue
($1,497,000) Change in net assets
___________
$51,248,000 Expenses

I'm surprised they are that high. I thought they were making money at a faster rate than they are.

Seems that only 2.8% of the revenue is profit.
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  #64  
Old 11-17-2017, 11:13 AM
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Originally Posted by twig93 View Post
Thanks for posting. For those of you who don't want to download & scroll through a lot of "rah rah, SOA" silliness, At the end of 2016 the SOA had $43,020,000 in "membership equity", which represented a $1,497,000 increase over 2015.

Revenue was $52,745,000 which breaks down as:
Exams: $29,680,000
Dues: $12,899,000
PD: $ 7,016,000
Other: $ 3,150,000

They don't provide expenses, but I think we can deduce that they are roughly:

$52,745,000 Revenue
($1,497,000) Change in net assets
___________
$51,248,000 Expenses

I'm surprised they are that high. I thought they were making money at a faster rate than they are.

Seems that only 2.8% of the revenue is profit.
This idea that 1.5million is a boatload of cash is ridiculous, especially for people who boast working in a multi-trillion dollar industry.

-Riley
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  #65  
Old 11-17-2017, 11:27 AM
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CIA dues are $1,300.
Career-ASAs at my company don't have the ACIA title cause they don't want to pay taxes on it...

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Originally Posted by twig93 View Post

Sounds like an accounting error... the reimbursement is getting mis-classified somehow. Seems like something he should take up with his employer... or perhaps just re-deduct them from his personal return if that gets him to the same place, money-wise (it often wouldn't in the United States due to thresholds and limits, but YMMV).
I just spoke about it to an FSA colleague of mine and she said that at her previous employer they didn't treat it as a taxable benefit. She said it varies from company to company.
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  #66  
Old 11-17-2017, 11:29 AM
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This idea that 1.5million is a boatload of cash is ridiculous, especially for people who boast working in a multi-trillion dollar industry.

-Riley
The $1.5 million was the increase for the year. How about looking at the number that's over $40 million!
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  #67  
Old 11-17-2017, 12:05 PM
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Obviously, the SOA could have left dues alone and spent down its capital. Or raised exam or meeting fees. Lots of options. But I have trouble complaining about the first dues increase in a decade. There are bigger fish to fry, like the fact that many people looking for entry level actuarial jobs can’t find them.

Bruce
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  #68  
Old 11-17-2017, 12:19 PM
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Obviously, the SOA could have left dues alone and spent down its capital. Or raised exam or meeting fees. Lots of options. But I have trouble complaining about the first dues increase in a decade. There are bigger fish to fry, like the fact that many people looking for entry level actuarial jobs canít find them.

Bruce
So short of doing nothing, the correct solution would have been to raise exam fees, lower pass marks, drop the GI Track, and stop the unrequited love with China.
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  #69  
Old 11-17-2017, 12:21 PM
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Originally Posted by bdschobel View Post
Obviously, the SOA could have left dues alone and spent down its capital. Or raised exam or meeting fees. Lots of options. But I have trouble complaining about the first dues increase in a decade. There are bigger fish to fry, like the fact that many people looking for entry level actuarial jobs canít find them.

Bruce
Massive over-supply of EL folks looking for their first Actuarial job.

You can blame the marketing of the Actuarial career over the last decade, along with aggressive pushes into educational institutions (to promote AS degrees and Grads) for that glut of EL folks.
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  #70  
Old 11-17-2017, 12:22 PM
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So short of doing nothing, the correct solution would have been to raise exam fees, lower pass marks, drop the GI Track, and stop the unrequited love with China.
Lowering pass marks?

Never a good idea if you want to remain elite.
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