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September 18, 2009 at 08:00 PM
The IRS is proposing amendments to its rules governing actuarial services for employee pension plans covered under the Employee Retirement Income Security Act of 1974.
The IRS’s Joint Board for the Enrollment of Actuaries released the proposed amendments today, which would update the eligibility requirements for performing actuarial services for ERISA-covered plans, including continuing education requirements, professional standards, bases for disciplinary actions and procedures to be followed in taking disciplinary actions..
Among other provisions, the proposed regulations would require qualifying actuaries to complete the pension actuarial examination no later than 10 years after applying for initial enrollment. The requirement would not, however, apply to the basic actuarial examination.
