Joint Board for the Enrollment of Actuaries

From USApedia
Joint Board for the Enrollment of Actuaries
Type: Regulatory Commission
Parent organization: Partnership
Employees:
Executive: Executive Director
Budget:
Address:
Website: https://www.irs.gov/retirement-plans/enrolled-actuaries
Creation Legislation: Employee Retirement Income Security Act of 1974 (ERISA)
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Joint Board for the Enrollment of Actuaries

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Mission
To establish and maintain standards for the competency and integrity of actuaries practicing under ERISA; to ensure actuarial services are performed with the highest level of quality and professionalism.
Services

Actuary Enrollment; Continuing Education; Standards Enforcement

Regulations

20 CFR Part 901


The Joint Board for the Enrollment of Actuaries (JBEA) is a regulatory body established to oversee the qualification and practice of actuaries in relation to employee benefit plans under ERISA. It ensures that actuaries meet specific standards of professionalism and ethics.

Official Site

Mission

The mission of the Joint Board for the Enrollment of Actuaries is to establish and maintain standards for the competency and integrity of actuaries practicing under the Employee Retirement Income Security Act (ERISA). It aims to ensure that actuarial services provided in relation to pension plans are of the highest quality and performed with professionalism.

Parent organization

The JBEA functions under the supervision of both the U.S. Department of the Treasury and the U.S. Department of Labor, reflecting a collaborative oversight model for ensuring actuarial standards.

Legislation

The Joint Board was created by the Employee Retirement Income Security Act (ERISA).

Partners

Number of employees

No specific number of employees is publicly detailed for the JBEA.

Organization structure

  • Joint Board Members are appointed by the Secretaries of the Treasury and Labor, managing policy and standards.
  • Advisory Committee on Actuarial Examinations assists in developing and updating exam content.
  • Executive Director oversees daily operations and administration.

List of programs

  • Actuary Enrollment Program
  • Continuing Education for Enrolled Actuaries
  • Disciplinary Procedures for Actuaries

Last total enacted budget

The budget for the JBEA isn't explicitly stated in public records, as it operates under broader departmental budgets.

Leader

The title of the leader of the organization is **Executive Director**.

Services provided

The JBEA provides services related to the enrollment of actuaries, administering exams, setting educational standards, and ensuring continuing professional education. They also handle complaints and enforce disciplinary actions against actuaries for misconduct or incompetence.

Regulations overseen

The JBEA oversees regulations set forth in 20 CFR Part 901, which pertains to the standards and qualifications for actuaries performing services under ERISA. This includes rules on enrollment, experience, education, and ethical conduct.

Headquarters address

Not publicly available.

History

The Joint Board for the Enrollment of Actuaries was established through the Employee Retirement Income Security Act of 1974 (ERISA), aiming to regulate actuarial practices in pension plans. This board was a response to the need for specialized oversight in the actuarial field to protect the interests of plan participants.

External links

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