Remembering Walter S. Rugland, SOA Past President

Members and staff at the Society of Actuaries (SOA) were saddened to hear of the passing of Walter S. Rugland, FSA, MAAA, on March 8, 2024. Our deepest sympathies are with his friends and family. His memory lives on at the SOA as we remember his accomplishments, professionalism and his tremendous impact on both the organization and the actuarial profession.

“Walter was a consummate professional,” said Godfrey Perrott, FSA, MAAA. “He cared very deeply about the actuarial profession and, most importantly, that actuaries serve the public. He truly held himself a debtor to his profession."

Rugland became a Fellow of the SOA in 1967, and he served on the SOA Board and as president from 1992 to 1993. During his tenure, he was instrumental in furthering professional and ethical standards. From 1997 to 1998, Rugland served as the president of the International Actuarial Association and led its restructuring. He also helped develop international actuarial standards. Rugland received honorary fellowships in both the British Institute of Actuaries and the Scottish Faculty of Actuaries for his international efforts.

“Walter was the epitome of professionalism, courtesy and kindness as a leader of the profession,” said Greg Heidrich, SOA chief executive officer. “Walter’s guidance, leadership and commitment will be missed, and his legacy endures as both a continued influence and an inspiration.”

Rugland was active with the Academy of American Actuaries for 30 years, including service on its board from 1977 to 1980, and he had deep involvement in the development of the Actuarial Standards Board. His service with the Academy earned him the Jarvis Farley Service Award in 2003.

Rugland followed his father, Walter L. Rugland (an early Academy president), into the actuarial profession. After graduating from the University of Michigan with an Actuarial Science MBA, he began his career in 1961 with Connecticut General Life and joined Milliman & Robertson in 1975. He took over the Chicago office with no qualified actuarial staff in 1975 and opened the Hartford office in 1980. After retiring from Milliman in 1998, Rugland moved from Hartford, CT, to Appleton, WI, and became chief operating officer of the Aid Association for Lutherans. AALU merged with the Lutheran Brotherhood in 2002 to become Thrivent Financial, and Rugland was named an executive vice president. He retired from Thrivent in 2002.

Rugland was one of the founding trustees of The Actuarial Foundation, whose mission is to enhance math education and financial literacy, and which envisions an educated public in pursuit of a secure financial future. He served an integral role in shaping its direction through his unwavering dedication and commitment.

Just in February, Rugland discussed his career as an actuary and his philanthropic work with the Foundation.

Rugland was a lifelong Lutheran. Both of his grandfathers were traveling Lutheran ministers in Iowa, western Minnesota and North Dakota, riding horses with a Bible in their saddlebags. He received his undergraduate degree from Luther College, Decorah, IA, in 1959, and served on its Board of Regents from 1985 to 1997.

Rugland was deeply involved with his community in Appleton. He helped create Imagine Fox Cities and served in leadership roles for the Community Foundation for the Fox Valley Region, Fox Cities Performing Arts Center, the ThedaCare Center for Healthcare Value, Fox Cities Exhibition Center, the Appleton Boychoir, the Wisconsin Historical Society, and many other organizations.

Rugland’s obituary can be viewed at www.wichmannfuneralhomes.com/obituaries/walter-rugland and more information at Post-Crescent.