truphao

Zeller, I am totally with you but I thought I would ask around to make sure I am not overlooking any professional issues.

Hello all knowledgeable and thinking people. I was a signing actuary for a client and last Schedule SB I signed was for 2017. Before signing 2018 SB I have departed from my employer and another actuary of the same firm has signed Schedule SB for 2018. The Schedule C for 2018 has never reported that there was a change in Actuary and my perspective is that an Actuary is an individual and not the firm. I have never received a notification from the client that my services as Enrolled Actuary have been terminated. Here are my questions: 1) What does it mean from the client perspective? Do they need to fix it at least by formally informing me that my services have been terminated? Do they have any exposure from not doing it correctly on 2018 Schedule C? What are the potential ramifications? I had (and still have) a very good relationship with the client and would like to minimize any potential negative consequences for them if there are any. 2) What does it mean from my perspective as an individual Enrolled Actuary who has never been formally terminated? Am I still formally their enrolled actuary? Do I have any professional exposure here? All thoughts are appreciated. 3) If I were to take over the actuarial work for this client and become their Enrolled Actuary "again" would I need to report the "interim" actuary being terminated? Or would I just let it slide since I have never been "terminated" myself? Any other thoughts and questions about this situation are appreciated as well.

In my opinion you can modify the actuarial assumption to explicitly recognize the future plan termination date. Then the shortening of the expected future service will accelerate the annual loss amortization.