What are the CE (continuing education) requirements for actuaries who issue Statements of Actuarial Opinion (SAOs) in 2008?

Actuaries who issue SAOs in 2008 must meet the pre-2008 Qualification Standards, either under the Qualification Standards for issuance of PSAOs, or under Precept 2 of the Code of Professional Conduct.

For SAOs that would have been PSAOs under the pre-2008 Qualification Standards, the pre-2008 standards apply (including a required minimum of 24 CE credits in a rolling two-year period). For SAOs that would not have been PSAOs, Precept 2 of the Code of Professional Conduct requires that the actuary be qualified before issuing SAOs; however, no specific amount of CE is required.

Actuaries are expected to continue to exercise their professional judgment to determine the appropriate level of continuing education to issue SAOs in 2008. The new continuing education requirements must be met for SAOs issued in 2009 and thereafter.