Conference of Consulting Actuaries Litigation

March 16, 2021

Academy and Board Defeat Lawsuit Challenging 2018 Bylaws Amendment Changing Composition of the Academy’s Selection Committee That Appoints Members to the ABCD and ASB

After two years of litigation funded by the Conference of Consulting Actuaries (CCA), Judge Michael Mullen of the Circuit Court of Cook County, Illinois, entered summary judgment in the lawsuit in favor of the defendants—the Academy and current and former members of its Board of Directors. Judge Mullen found that the Academy Board had the authority to adopt a September 4, 2018, bylaws amendment that changed the membership of the Academy’s Selection Committee. Read President Tom Campbell’s Letter to Members.

March 15, 2021

Transcript and Summary Judgement Issued

Read the Transcript and Judge Michael Mullen’s Judgment in favor of the defendants—the Academy and current and former members of its Board of Directors—in the case funded by the Conference of Consulting Actuaries. Judge Mullen found that the Academy Board had the authority to adopt a September 4, 2018, bylaws amendment that changed the membership of the Academy’s Selection Committee that appoints members to the ABCD and ASB .

Sept. 7, 2018

Academy Board Votes to Amend Academy Bylaws to Change Composition of the Academy’s Selection Committee

On Sept. 4, 2018, the Academy’s Board of Directors, after careful deliberation, voted to amend the Academy’s Bylaws to change the composition of the Academy’s Selection Committee. This committee is established by the Academy Bylaws and appoints members of the Actuarial Standards Board (ASB) and the Actuarial Board for Counseling and Discipline (ABCD), both of which are housed within the Academy. Effective immediately, the Selection Committee will be composed only of the presidents and presidents-elect of the Academy, the Society of Actuaries, and the Casualty Actuarial Society. Read Academy President Steve Alpert’s Letter to Members.