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Old 06-12-2019, 01:39 PM
Z-willikers Z-willikers is offline
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Question Enrolled Actuary sign off on Responsible Pension Actuarial Experience

Hello,
I have been working for a small TPA for the past few years putting together yearly reports and filing 5500's and what not. I have worked mostly on DC plans, but over the last couple years I have started working more on DB plans and I have passed the necessary tests to become an Enrolled Actuary. I am only lacking an enrolled actuary to sign off on my experience. My company currently has no actuaries on staff and outsources the signing of the AFTAP and Schedule SB. So my question is: Does anybody have any tips or recommendations on how to get an enrolled actuary to sign off on my experience? I hesitate to ask the guy we outsource to only because he would basically be signing off on his replacement, but if it must be done it will be done. Just looking for other options if possible.
Thanks for any ideas.
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Old 06-12-2019, 02:22 PM
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NerdAlert NerdAlert is offline
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Well, if the only person who can attest that you are knowledgeable to sign the SB is the EA who signed the SB you prepared, you're going to need to get him or her to sign off on your experience, in addition to your supervisor(s) who is not an EA.

Honestly, your brief description of your work experience doesn't sound adequate for meeting the EA requirements. As you likely know, you need at least 36 months of responsible pension actuarial experience in the past ten years, or else 18 months of responsible pension actuarial experience AND 60 months of responsible general actuarial experience in the past ten years. "Over the last couple years I have started working more on DB plans" and "I have been working for a small TPA for the past few years putting together yearly reports and filing 5500's and what not" doesn't seem like sufficient experience for that, but you'd know better than I do.

Who is supervising your work prior to it being reviewed by a third party? Who is selecting the assumptions and determining their reasonableness? How is this company qualified to be calculating the required information for the AFTAP and SB if they employ no actuaries, let alone EA's? I wouldn't be surprised if you get a lot of push back from the joint board to prove you are sufficiently skilled and experienced in order to be credentialed.
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Old 06-13-2019, 09:35 AM
Z-willikers Z-willikers is offline
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Thanks for the response. I realize I need more experience, just trying to figure out as early as possible what I need to do (maybe a new job) to get that experience. All good points that I have been mulling over in my head as well. Do you think working on DC plans applies at all to the responsible general actuarial experience? My first thought would be no, but then again DC plans were on the EA exams.
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