PARTIAL AND FULL DUES WAIVER INFORMATION

Partial Waiver

Members eligible for a partial dues waiver will pay an amount that will be set by the Executive Committee each year, which is typically in the range of 10 percent to 20 percent of the full dues amount for the year. A member qualifies for a partial dues waiver if he or she meets any of the following criteria:

1. The member is on temporary leave from the work force for any reason, including unemployment or partial disability, AND certifies that he or she anticipates earning “no significant income” (as defined below) from actuarial activities in the forthcoming calendar year. (A member in this category must certify annually that he or she meets the stated criteria, by re-applying each year for a partial dues waiver).

2. The member is under age 70 and is retired from active employment, AND anticipates earning “no significant income” in the forthcoming calendar year. (A member in this category who is under age 55 must certify annually that he or she meets the stated criteria, by re-applying each year for a partial dues waiver. A member in this category who is age 55 or older must so certify only in the first year in which he or she is in this category and need not reapply in subsequent years; however, if such a member ceases to be in this category prior to age 70, he or she must notify the Academy office and will no longer be eligible for such waiver.)

The term “no significant income” shall mean earning no more than 80 percent of the U.S. per capita income as most recently published by the U.S. government, rounded to the nearest $1,000. The term “income” for purposes of this policy shall mean and refer to earned income, including the definition of earned income as may appear in various sections of Title 26 of the U.S. Code, as in effect at the time of making such determination, and is not intended to include income from investment activities unrelated to employment or from Social Security, pensions, or comparable sources.
 

Full Waiver

A member qualifies for a full dues waiver if:

1. The member is totally disabled and anticipates remaining so for the forthcoming calendar year. (A member in this category who is under age 55 and who has become totally disabled after 2007 must certify annually that he or she meets the stated criteria, by re-applying each year for a full dues waiver. A member in this category who is age 55 or older, or who became totally disabled prior to 2008, must so certify only in the first year in which he or she is in this category and need not re-apply in subsequent years; however, if such a member ceases to be in this category prior to age 70, he or she must notify the Academy office and will no longer be eligible for such full waiver.); or

2. The member is age 70 or older; or

3. The member is serving on active duty in the U.S. military, Peace Corps, or similar volunteer service. (A member in this category must certify annually that he or she meets the stated criteria, by re-applying each year for a full dues waiver.)

Other special circumstances warranting a partial or full waiver of dues will be considered by the Academy’s Membership Committee.