The Enrolled Actuaries establish the criteria and qualifications for individuals to provide actuarial services. This board grants licenses to actuaries permitting them to undertake various actuarial responsibilities mandated for pension plans under the Employee Retirement Income Security Act of 1974 (ERISA) in the United States. As part of its functions, the Joint Board conducts two examinations for aspiring Enrolled Actuaries. Once an individual successfully passes both exams and gains adequate relevant professional experience, they attain the status of an Enrolled Actuary.
MY-CPE LLC specializes in delivering Continuing Professional Education (CPE) courses tailored for individuals holding the Enrolled Actuaries (JBEA) designation. Our primary focus lies in offering superior quality continuing education that encompasses pertinent subject areas. Industry experts and specialists meticulously curate and review our CPE courses. Each course is thoughtfully structured to guarantee alignment with your ongoing educational requisites.
ENROLLED ACTUARIES (JBEA) CPE REQUIREMENT OVERVIEW
| CPE Requirements | 36 hours of CPE credit must be completed within a three-year certification period. |
| License Renewal Period | Renew your CPE license on or before April 1st every 3 years. |
| CPE Reporting Cycle | The reporting cycle is from January 1st to December 31st. |
| Ethics Requirement | 2 hours of ethics requirements. |
CLICK HERE for further reference on CPE regulations for Certified Internal Controls Auditors (JBEA).
A minimum of 36 hours of continuing professional education credit must be completed within a three-year certification period.
There is a two-hour ethics requirement for Enrolled Actuaries (JBEA).
The Enrolled Actuaries (JBEA) should renew their designation, on or before April 1st every 3 years.
The CPE reporting cycle for the Enrolled Actuaries (JBEA) spans from the commencement of January 1st through the conclusion of December 31st.
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Yes, they must complete at least 12 hours of core subject matter out of the 36 required CPE hours for each enrollment cycle.
Core subject matter refers to essential knowledge required for effectively providing pension actuarial services and obtaining actuarial certifications in compliance with ERISA (Employee Retirement Income Security Act) and the Internal Revenue Code. This encompasses topics like actuarial cost methods under ERISA, actuarial assumptions, minimum funding standards, ERISA titles I, II, and IV, rules for valuing plan assets, pension plan qualification requirements, maximum deductible contributions, tax implications of qualified pension plan distributions, excise taxes linked to qualified pension plan funding, and performance standards (including ethical guidelines) for actuarial services. Additionally, it encompasses all materials found in the syllabi of pension actuarial exams administered by the Joint Board during the current and immediately preceding enrollment cycles.
On the other hand, non-core subject matter refers to program content designed to enrich the knowledge of enrolled actuaries regarding aspects connected to pension actuarial services. Examples of such content encompass economics, computer programming, pension accounting, investment and finance, risk theory, communication skills, business acumen, and general tax law.
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Yes, a minimum of 18 hours must pertain to core subject matter, while the remaining hours can involve non-core subject matter.
The following categories of qualifying activities and limits have been approved by the JBEA and are acceptable for JBEA credits:
The qualifying learning activities for the Enrolled Actuaries (JBEA) provided by myCPE are:
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If you don't meet renewal requirements, the Executive Director will mail you a notice. You have 60 days to respond with relevant info. Fixing issues might allow future reapplication following new guidelines.
The license renewal fee for Maine (ME) LPA is $680. Click here for more information on renewal fees.
An Enrolled Actuaries (JBEA) can complete 100% hours of the total required CPE credit hours via self-study courses. i.e., an Enrolled Actuaries (JBEA) can complete all 36 hours via self-study courses.
myCPE provides courses that are approved for continuing education credits by the IRS. Based on the guidelines issued by these boards regarding Continuing Education Requirements, we recommend the programs/ webinars be suitable for JBEA designation holders. However, it will be the responsibility of each attendee to ensure that they are eligible for the Continuing Professional Education Credits based on their occupation/ job profile, knowledge requirements as well and guidelines laid down by their regulatory board before registering for the webinars.
CLICK HERE to visit the IRS website for JBEA professionals.
