6. How do the U.S. Qualification Standards (USQS) affect retired actuaries who are members of any of the five U.S.-based organizations?
Question
6. How do the U.S. Qualification Standards (USQS) affect retired actuaries who are members of any of the five U.S.-based organizations?
Actuaries issuing Statements of Actuarial Opinion in the United States must comply with all of the requirements in the USQS regardless of their status as “retired” (Sections 2 and 3). If an actuary is retired and does not issue any SAOs, then the USQS would not apply to that actuary. However, there are no grace periods in the USQS for retirees, so, if an actuary issues an SAO, even one SAO and even on a “free” basis in the U.S., he or she must meet the USQS including the CE requirements.
Last updated December 2014
Last updated December 2014
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