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  #1  
Old 09-22-2009, 09:55 AM
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Mike McLaughlin Mike McLaughlin is offline
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Default FEM Letters

Over 1,000 letters from members of our various North American actuarial organizations have been received. The SOA staff is busy tabulating the responses and should have summary and detail information out to the SOA board in advance of the board meeting in late October. The summary will indicate opinion (pro/con/neutral) and will be summarized by demographic (such as SOA/CAS member) as far as possible.

Although I haven't read them (yet), I've been told that the responses are generally well written and articulate, and mostly take a clear position. I can give you an indication that the responses are heavily against FEM (probably no surprise to the AO). The count isn't final but it's probably 80% against, for various reasons. There's a minority in favor, and there's also a small number who don't express an opinion.

Let me quickly add, this is unofficial, and I'm speaking here as an individual. This is not the official position of the Steering Committee, the SOA, or anybody else. This is all my opinion and based on not-fully-complete information.

What will happen next is that the SOA board (also CAS, CIA boards) will get this feedback and they will consider what to do next. I personally would not favor moving forward with FEM, not in its current form, not without major modifications. And it will have to move more slowly rather than more quickly. I know many people would prefer to throw out the whole idea, but I'm not there. At least not now. I would like to see and digest the arguments in the letters, both pro and con. And I do think there are "pro" arguments.

As I've mentioned before, this is an exploration. Maybe it's a terrible idea but the outcome was never pre-ordained. There was no conspiracy to push this through without involving the members (if there was, they left me out of it!). And nobody is making or will make any money out of it as far as I can tell.

Your opinions on the AO are also taken into consideration. Also your PMs to me (some more tasteful than others!). So, everyone is making a contribution and that's the best way to get to the best answer.
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Old 09-22-2009, 10:04 AM
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Thanks for the update Mike.

Althought I am in the camp that FEM is burned, I know that's not going to happen. I hope that in the future, if changes are made, and implementation is pending, we are given another opportunity for feedback.
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  #3  
Old 09-22-2009, 10:19 AM
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Thank you, Mike.

I am in the opposed camp. To be honest, I do not see any way the proposal could be modified to make it acceptable. However, I will continue to try to keep an open mind on the subject.

The very first step that the proponents must take to gain acceptance is to state much more clearly than has happened so far, just what the problem is that needs so-called FEM as a solution.
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Old 09-22-2009, 10:20 AM
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Quote:
Originally Posted by Mike McLaughlin View Post
There was no conspiracy to push this through without involving the members (if there was, they left me out of it!).
Thanks for posting Mike. I've gone out of my way to keep an open mind on FEM and thought that it was quite a separate issue from everything that is going on with the AAA. But what are we supposed to make of this?

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The person who made the motion to remove me cited FEM as his primary motivation.

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  #5  
Old 09-22-2009, 10:23 AM
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Mike-if you could update on the letters: how many were from organizations? If there are 1000 letters and 80% against, how much more does it tip the scales if major employers are against?

Thanks.
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  #6  
Old 09-22-2009, 10:26 AM
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Thanks for the update!

Quote:
Originally Posted by Mike McLaughlin View Post
...and there's also a small number who don't express an opinion.
I found this pretty funny though. I mean, why go to the trouble of writing a letter if you have no opinion. (Although, I guess that's never stopped me from posting on the AO.)
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  #7  
Old 09-22-2009, 10:33 AM
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Quote:
Originally Posted by Mike McLaughlin View Post
Over 1,000 letters from members of our various North American actuarial organizations have been received. The SOA staff is busy tabulating the responses and should have summary and detail information out to the SOA board in advance of the board meeting in late October. The summary will indicate opinion (pro/con/neutral) and will be summarized by demographic (such as SOA/CAS member) as far as possible.

Although I haven't read them (yet), I've been told that the responses are generally well written and articulate, and mostly take a clear position. I can give you an indication that the responses are heavily against FEM (probably no surprise to the AO). The count isn't final but it's probably 80% against, for various reasons. There's a minority in favor, and there's also a small number who don't express an opinion.

Let me quickly add, this is unofficial, and I'm speaking here as an individual. This is not the official position of the Steering Committee, the SOA, or anybody else. This is all my opinion and based on not-fully-complete information.

What will happen next is that the SOA board (also CAS, CIA boards) will get this feedback and they will consider what to do next. I personally would not favor moving forward with FEM, not in its current form, not without major modifications. And it will have to move more slowly rather than more quickly. I know many people would prefer to throw out the whole idea, but I'm not there. At least not now. I would like to see and digest the arguments in the letters, both pro and con. And I do think there are "pro" arguments.

As I've mentioned before, this is an exploration. Maybe it's a terrible idea but the outcome was never pre-ordained. There was no conspiracy to push this through without involving the members (if there was, they left me out of it!). And nobody is making or will make any money out of it as far as I can tell.

Your opinions on the AO are also taken into consideration. Also your PMs to me (some more tasteful than others!). So, everyone is making a contribution and that's the best way to get to the best answer.
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  #8  
Old 09-22-2009, 10:43 AM
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Thanks for the update.
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  #9  
Old 09-22-2009, 10:53 AM
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Quote:
Originally Posted by MAX. View Post
Thanks for the update!


I found this pretty funny though. I mean, why go to the trouble of writing a letter if you have no opinion. (Although, I guess that's never stopped me from posting on the AO.)
Some people have said that they wrote initial letters complaining that the comment period was too short and then a second letter with an opinion--it seems likely that the initial letter in such a case was counted as no opinion.
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  #10  
Old 09-22-2009, 11:24 AM
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Mike McLaughlin Mike McLaughlin is offline
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Quote:
Originally Posted by MAX. View Post
Thanks for the update!


I found this pretty funny though. I mean, why go to the trouble of writing a letter if you have no opinion. (Although, I guess that's never stopped me from posting on the AO.)
I think some people wrote in but either didn't express an opinion on FEM itself (maybe they commented on the comment period) or their opinion wasn't completely clear to SOA staff people.
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