Edition

CPD Requirement: Non-Compliance

Frequently Asked Questions


Do I need to tell anyone if I fail to fulfill the CPD requirement?

  • Yes, you must inform anyone currently relying on your actuarial expertise that you failed to fulfill the SOA CPD requirement.
  • This may include your employer.
  • See Precept 12 of the actuarial Code of Professional Conduct.

Do I have to tell my employer if I do not fulfill the CPD requirement?

That depends.

  • If your employer relies on your actuarial expertise, then you have to let them know you did not meet the SOA CPD requirement.
  • You may have to notify your employer (or client) even if you're in a non-traditional role, or work for a non-traditional employer. This depends on the nature of your job duties.

Will the membership directory show if I've fulfilled the CPD requirement?

  • Yes, the membership directory will reflect whether you've fulfilled the requirement by listing your status as either "Compliant" or "Non-compliant."
  • If you don't certify compliance, the membership directory will list your status as non-compliant.
  • Members who are eligible for dues reduction because of retirement will be shown as "Retired."
  • The SOA will provide guidance on its website and in other formats regarding the "Compliant" and "Non-compliant" status.

If I'm a consultant, and I have clients currently relying on my actuarial expertise, do I have an obligation to let them know that I didn't fulfill the SOA CPD requirement?

Yes.

How will anyone know what "Compliant," "Non-compliant" or "Retired" means?

  • The SOA publishes on its website, and in other formats, information regarding the meaning of "Compliant," "Non-compliant" and "Retired," as listed in the membership directory.
  • The description clearly notes that the "Non-compliant" status denotes non-fulfillment of the CPD requirement and does not relate to the qualification to practice or to membership status or rights.
  • We expect that over time the marketplace will understand what the terms "Compliant" and "Non-compliant" mean.

If the membership directory lists my CPD requirement status as "Non-compliant," how can I get it changed to "Compliant"?

  • The membership directory status can be changed from "Non-compliant" to "Compliant" as soon as a member completes the cycle of CPD and notifies the SOA.
  • This can be done mid-year as soon as you have fulfilled a cycle of CPD.
  • You may also use alternative compliance to meet the CPD requirement.

Example:John Doe, FSA, did not earn sufficient CPD credits as of Dec. 31, 2014. In 2015, the membership directory was changed to note his CPD requirement status as "Non-compliant." He earned sufficient credits by May 15, 2015, such that he had 60 units of CPD credit for the 2011 and 2012 calendar years. As of May 15, 2015, he notified the SOA and shortly thereafter the membership directory showed his CPD requirement status as "Compliant."

The membership directory shows my status as "Non-compliant" and I can't figure out how to change it. What can I do?

  • Contact the SOA Customer Service department.
  • You can reach SOA Customer Service by phone at 888.697.3900 between the hours of 8 a.m. and 5 p.m. Central Standard Time or e-mail at customerservice@soa.org.