Continuing Education requirement for EAs

[dmb]

If an Enrolled Actuary issues Statements of Actuarial Opinion on ERISA plans as well post-retirement medical benefits, it looks to me like he/she must meet the new Qualification Standards, that is, 24 hours of credit for 2008, 30 for each year after 2008, and does not qualify for the EA exemption. Is that correct?? If not, what are the current qualifcation standards for such an EA? Thank you.

[Andy the Actuary]

Does ERISA bind an EA to these statements of actuarial opinion or is it membership in the AAA that so binds?

[carrots]

There is only one set of requirements for qualification as an EA.

If the EA also gives opinions in other (non-EA) areas of work, the EA should separately meet those requirements.

[Guest RBlaine]

I think the JBEA requirements are a number of hours over a three year period.

However, if the EA is a member of AAA (not required, right?) wouldn't he/she also need to meet the AAA CE requirements (30 hours every year) which would more than cover the JBEA requirements?

In addition, I think if the EA signs off on more than just plan valuations/Schedule SB's he/she would need more than 30 hours, correct?

[tymesup]

Does the AAA require Core credits like the JBEA?

AAA credits are easier to receive than JBEA credits, in some cases.

If you do EA and post-retirement medical work, do you need 30 + 30 credits? Or maybe you can double up on some of the credits, like ethics.

[Guest RBlaine]

Does the AAA require Core credits like the JBEA?

AAA credits are easier to receive than JBEA credits, in some cases.

If you do EA and post-retirement medical work, do you need 30 + 30 credits? Or maybe you can double up on some of the credits, like ethics.

It has been a bit since I read through the AAA, but I don't think it is 30+30, because, as you say, some things overlap. Since I don't do non-pension work, I didn't pay much attention to that part.

Link to AAA FAQ:

http://www.actuary.org/qualstandards/qualfaqs.asp