A candidate for any class of membership must be highly proficient in the scientific and practical application of the mathematics of financial contingencies and of other techniques relating directly or indirectly thereto; and have professional and business qualifications, moral character, and ethics that are beyond reproach.
The following paragraphs describe the more specific requirements for Fellows and Associates.
A candidate for membership as a Fellow must, as of his or her date of application, be substantially engaged in consulting actuarial practice; in work as an actuary of a governmental unit; in work as an Enrolled Actuary; in work at an insurance company; or in teaching actuarial science and satisfy any one of the following three independent criteria:
(1) Have completed six years of experience in responsible actuarial work, three of which are in actuarial consulting, and attained the designation of ASA (Associate of the Society of Actuaries), or ACAS (Associate of the Casualty Actuarial Society), or EA (Enrolled Actuary), or MAAA (Member of the American Academy of Actuaries), or MSPA (Member of the American Society of Pension Professionals and Actuaries) or the equivalent designation for any international actuarial organization accepted by the Board of Directors of the CCA;
(2) Have been an active member in the CCA for a period of three consecutive years after attainment of the Associate membership designation, be in good standing, and practicing as a consultant; or
(3) Have attained the designation of FSA (Fellow of the Society of Actuaries), FCAS (Fellow of the Casualty Actuarial Society), or FSPA (Fellow of the American Society of Pension Professionals and Actuaries), or the equivalent designation for any international actuarial organization accepted by the Board of Directors of the CCA.
Additionally, applicants must meet such other qualifications and requirements as may be required from time to time by the Board of Directors.
A candidate for membership as an Associate must, as of his or her date of application:
(1) Have attained the designation of ASA (Associate of the Society of Actuaries), or ACAS (Associate of the Casualty Actuarial Society), or EA (Enrolled Actuary), or MAAA (Member of the American Academy of Actuaries), or MSPA (Member of the American Society of Pension Professionals and Actuaries); or the equivalent designation for any international actuarial organization accepted by the Board of Directors of the CCA; and
(2) Meet such other qualifications and requirements as may be required from time to time by the Board of Directors.
An active actuary must participate in the Continuing Education Requirement for Membership in order to maintain his or her CCA designation.
A retired actuary who does not participate in the Continuing Education Requirement for Membership can continue to use his or her current CCA designation with the addition of "-R" attached to the designation (FCA-R or ACA-R).
A retired actuary who satisfies the Continuing Education Requirement for Membership can continue to use his or her current CCA designation without alteration.
Membership for Non-SOA/CAS Credentialed Actuaries
All actuaries not credentialed by the Society of Actuaries or the Casualty Actuarial Society are required to sign off on a form acknowledging professional awareness of the Qualification Standards and professionalism for actuaries prior to processing his/her application (required by the International Actuarial Association). Click here to review the web page "Professionalism for U.S. Actuaries, Outline of Concepts and Structure." The acknowledgement form is linked to the end of the page.
Annual dues shall be payable for a full calendar year or for any part of a calendar year during which the person was a member of the CCA, provided that when a person is admitted as a member after the Annual Meeting of any year, the dues shall apply for the calendar year beginning on the succeeding January 1.
The amount of dues for each class of membership shall be determined annually by the Board, with any change subject to confirmation by a majority vote of the voting members present and voting at the Annual Meeting of the CCA before such dues become effective. Based on the decision of the members present at the Annual Meeting, the membership dues are as follows: Fellows and Associates -- $425; Federal Government Employees: 50% off of full dues - $212.50.
To retain active status, members are required to complete the Required Continuing Education of 30 hours, inclusive of three hours of professionalism, for each calendar year. New members who join after January 1 are deemed to have satisfied the CCA's requirement.
Please note that by payment of CCA dues (unless claiming retired status) you confirm that you currently meet, or have met during the past 12 months, the 30 hour Continuing Education Requirement of the CCA, as outlined in the Qualification Standards promulgated by the American Academy of Actuaries' Committee on Qualifications (effective January 1, 2008), regardless of whether or not you have issued any Statement of Actuarial Opinion (SAO). If you issue any SAO in the current year, the Qualification Standards require you to satisfy the Continuing Education Requirement for the previous calendar year. Issuing an SAO without satisfying the Continuing Education Requirement is a violation of Precept 2 of the Code of Professional Conduct.
Dues to the Conference of Consulting Actuaries are not deductible as charitable contributions for Federal Income Tax purposes. Dues payments may be deductible as an ordinary and necessary business expense.
Special Waiver of Dues
In 2004, the Board of Directors approved a special waiver available to members who are no longer "substantially engaged" in actuarial work, either due to retirement, temporary unemployment, or disability. A waiver for any calendar year is based on the status of the member on January 1 of the calendar year. The member is deemed to be "substantially engaged" in active actuarial work if the member is so engaged 15 hours per month in January of the year or if the member expects to be so engaged an average of 15 hours per month during the calendar year. This partial waiver status requires members to pay $212.50 in dues for the current year. This amount is deductible from the Annual Meeting fee should you choose to attend. Members must reapply annually to receive this partial waiver. To request a Special Waiver of dues, please contact the CCA office. When making your request, please acknowledge if you have (or have not) satisfied the CPD Requirement for Membership.