CIA (e)Bulletin/(e)Bulletin de l'ICA

Canadian Institute of Actuaries/Institut canadien des actuaires

April 2014
Elliott Bauer
D.W. Simpson & Company
Eckler Ltd.
Your Institute

By Jacques Lafrance, FCIA
CIA President

Several years ago, the CIA Board decided that it needed to become more strategic in its focus and leave operational and implementation work to councils, committees, and CIA Head Office staff. To start with, the organization required a fresh look at its Strategic Plan and the Board decided to create one that would set the profession on a well-thought through path to the future.

As the CIA has a solid vision ("Members of the Canadian Institute of Actuaries (CIA) are recognized as trusted leaders in the quantification and management of risks and contingent events"), the first step was to build on this and determine the long-term strategic goals of the CIA. Considerable effort was spent on this foundational step by the Board and the results are below:

  • Being a member of the CIA is regarded as essential for all actuaries practising in Canada. All actuaries practising in Canada are active members of the CIA and view the CIA as their primary actuarial affiliation and the body with which they are most engaged.
  • The CIA is viewed as an educational body, not just an accreditation body. It takes full accountability for the educational path to FCIA (which may involve outsourcing) with the FCIA recognized as being a high-quality stand-alone educational designation (i.e., not having to be aligned to another designation).
  • Building on its research on financial welfare and risks, the CIA is widely recognized by the Canadian public as the leading contributor to dialogue, analysis, and solutions in all areas related to understanding and quantification of future financial contingencies and risks.
  • Building on their extensive role in existing practice areas, CIA members are viewed as key contributors in non-traditional fields such as health care and banking.

From these four cornerstones, the Board and CIA Head Office staff developed a broad and deep plan for now and the future. And by the Board, I mean several Boards! As you know, each year there is a rotation of at least five members onto and off the Board. Input was also sought from the CIA councils. So the discussions were held, and the creative ideas and solutions were derived from a wide base of the volunteer leadership.

At its recent meeting the Board approved a "final" version of the Strategic Plan. Of course "final versions of a living document" is a misnomer, but we now have firm targets in place. This document, part of a package of goals and objectives, will help the Institute meet the challenges it faces, for the next few years.

In November, CIA staff presented the Board with a strategy map which demonstrated the various relationships and linkages among the Institute’s strategic and operational goals. Over the following few months, a task force—which consisted of Board members, council chairs, and staff—analyzed the map and other documents to set the CIA’s priorities.

The following strategic objectives were confirmed as the priorities for 2014, and for several years beyond:

  • Build the Canadian brand;
  • Influence policy setting; and
  • Become the association of choice.

The task force established the priorities using the following criteria:

1. The importance of the objective;

2. The objective’s current perceived level of performance; and

3. The amount of effort required to improve that level of performance.

In the spirit of the Board becoming more strategic and the CIA Head Office staff being more focused on implementation and delivery, staff were tasked with determining the top 10 operational goals to be achieved in 2014, given the assigned priorities, and sharing the results with the Board in March.

The top 10 are (listed in order of target completion date):

1. Build the Canadian Brand

  • During 2013–2014, the CIA will develop a plan to promote actuarial science as a career choice to high school students and upward.
  • During 2014–2015 the CIA will identify target markets—who they are and what they value (students, non-member professionals)—and develop and conduct an outreach campaign by promoting the value of the ACIA and FCIA designations. It will educate potential members about Canadian standards.
  • By the end of 2014 the CIA and the Eligibility and Education Council (EEC) will determine the future of the CIA’s Practice Education Course (PEC) and consider it in relation to the Professionalism Workshop and the Casualty Actuarial Society course on professionalism.
  • During 2014–2015, the CIA will develop a marketing plan to promote the important role the actuarial profession plays in society and the Canadian actuarial brand.
  • During 2013–2014, the CIA along with the EEC will review the 10-year education strategy approved by the Board in 2012 and refine the associated implementation plan with respect to CIA control of the Canadian education syllabus.
  • During 2014–2015, the CIA along with the EEC will define the Canadian education system as a stand-alone end-to-end education system that does not necessarily rely on the completion of other actuarial credentials.

2. Influence Policy Setting

  • During 2013–2014, the CIA will perform an environmental scan to identify potential topic areas related to future financial contingencies and risks.
  • During 2014–2015, staff will develop and implement an outreach plan for policy makers, the media, and the public.
  • During 2014–2015, the CIA along with the Member Services Council will proactively assess and follow up on opportunities for public positions the profession can provide, and report back to the Board.

3. Continuously Improve Operations

  • During 2014–2015 the CIA will evaluate the strategy and evolution of the University Accreditation Program to ensure it is and remains a strong, clear, and attractive path to the ACIA and FCIA designations.

The Strategic Plan also includes three items that hinge on the success of an ongoing customer relationship management (CRM) project: leverage information technology, build a CRM culture, and build and enhance member relationships. In order to build a powerful member-service organization, the Board has approved a $325,000 investment for this initiative in 2014–2015. With technology changing quite quickly, it is important for the Head Office to modernize the systems that help staff manage the profession’s most important resource, its members. This project is on target for implementation in the fall of 2014.

Do the above operational goals and priorities mean that less attention will be paid on the Institute’s core activities? Of course not. The Institute’s volunteers and staff will continue to:

  • Develop and issue timely and relevant guidance on practice-related matters;
  • Provide high-quality services to the members;
  • Efficiently manage relevant research projects and our education, eligibility, and discipline system;
  • Stay connected with international actuarial issues and bring the Canadian perspective and influence to the international table; and
  • Explore and proactively implement actions aimed at expanding the reach of the actuarial profession in Canada.

The revised Strategic Plan represents a road map that will guide the Board, the CIA staff, and volunteers through a number of challenges in the coming years so that we become an even more vibrant profession in the future. As the profession and the broader business world constantly change, it is important for us to continually review our priorities and focus our resources in the areas where we can achieve the best results.

I am grateful to all those who contributed to the many strategic discussions, the plan, and other planning documents, in particular my presidential predecessors Jim Christie and Simon Curtis, who started the process and managed it successfully. By using the latest information and ideas, we have ensured that the Institute is well placed to achieve all its short- and long-term goals.

I urge all members to consider what role they can plan in our progress and development. By working together, and focusing on our priorities, we can adapt and evolve and position ourselves, and the Canadian actuarial profession, as leaders and trusted advisors to Canadians and Canada.

If you have any comments about the plan, or any of its elements, I would be happy to hear from you! My address is

Jacques Lafrance is President of the CIA.


By Bruce Langstroth, FCIA

"So what’s happening in Canada with enterprise risk management (ERM)?" you ask.

The answer varies a little bit depending on who you ask and what your perspective is. The following is an overview of some of the important things happening in this practice area, and activity that may emerge within the Practice Council within the coming years.

Many CIA members have well-established roles within insurance companies that involve ERM. Outside of practice within insurance companies, though, either ERM practice is less well developed (e.g., within pensions) or the role of actuaries within ERM in other organizations is less clear (e.g., banks). The CIA’s Enterprise Risk Management Applications Committee (ERMAC) was established "to promote the role of actuarial science to enterprise risk management and to market actuaries as knowledgeable experts in this field." One may reasonably expect the involvement of actuaries engaged in ERM both within traditional employers and without to increase.

Generally speaking, there is no guidance—neither standards nor guidance material—relating specifically to ERM practice. One might reasonably argue that certain aspects of the insurance-specific standards, such as Dynamic Capital Adequacy Testing, are more related to ERM (with insurers) but those aspects are relatively minor in relation to the potential width and breadth of ERM practice.

Other parts of the world have been more active in the ERM field. For instance, the American Academy of Actuaries has adopted two standards in relation to ERM:

  • 46 – Risk Evaluation in Enterprise Risk Management addresses risk evaluation (models, economic capital, stress testing, and emerging risks in particular).
  • 47 – Risk Treatment in Enterprise Risk Management addresses risk treatment (determination of risk tolerance, setting risk appetite, establishing risk limits, and performing risk mitigation activities).

The International Actuarial Association has two International Standards of Actuarial Practice in the course of development:

  • 5 – Insurer Enterprise Risk Models is intended to address topics related to risk models, including data quality, assumption setting, model selection, model validation, review of results, and related topics.
  • 6 – Enterprise Risk Models is intended to broadly address risk management topics, including risk identification; techniques for risk quantification; risk aggregation and diversification; processes for measuring, analyzing, and modelling risks; and ERM framework and policy statements.

The CIA’s Committee on Risk Management and Capital Requirements (CRMCR) has four projects at various stages of completion. Two research papers, one on aggregation and diversification and the other on capital for operational risk, are well advanced with delivery dates later in 2014. Work on two other research papers, one on risk limits and risk appetite and the other on lapse risk and capital, is expected to begin this year.

The mandate of the CRMCR is limited to risk management considerations within insurance companies. In conjunction with a review of the ERMAC’s mandate, consideration of an ERM practice committee was initiated earlier this year with a mandate to produce guidance material for general ERM practice and respond to the development of standards and guidance by other bodies.

In short, while the development of ERM-specific guidance in Canada is not well advanced, there are lots of reasons to expect that to change in the foreseeable future.

Bruce Langstroth, FCIA, is Chair of the Practice Council.



An article by Tom Ault of Aon Hewitt about a potential new era in pension plan de-risking is featured in the latest issue of Benefits Canada magazine. 

Paul Forestell of Mercer and Canada's chief actuary Jean-Claude Ménard commented in the Globe and Mail on projections that it was unlikely that Canadians' average life expectancy would ever reach 100.

The C. D. Howe Institute released a report written by Malcolm Hamilton about the compensation of federal officials.

Doug Johnson, a partner at Mercer, has been appointed as the company’s Canadian mergers and acquisitions leader. Prior to assuming this position, he ran one of Mercer’s specialist Canadian retirement businesses. Luc Bernèche, partner and client manager in Mercer’s Calgary office, will support the company’s mergers and acquisitions business in Western Canada, with a particular focus on mining, energy, and corporate/private equity clients.

James Koo, formerly vice-president and chief risk officer for Canada and employee pensions at Sun Life Financial, has become a partner in Aon Hewitt Canada’s retirement consulting practice. 

In Benefits Canada magazine, Cameron McNeill of Segal Consulting highlighted some of the concerns facing those responsible for multi-employer pension plans. 

Daniella Vega has been appointed as principal at Eckler "in recognition of her outstanding achievements and professional standing", the company said.

In the Financial Post, Fred Vettese of Morneau Shepell suggested that Canadians' RRSP participation rate was much better than it appeared at first glance. 

Networking is a key part of any successful professional's career, and the CIA is offering you a fresh opportunity to inform your peers about your achievements and progress.

Our (e)Bulletin section, Actuaries on the Move, is a chance for you to publicize your new job, title, credentials or other information. This is an opportunity to tell thousands of fellow actuaries and financial professionals—whether they are ex-colleagues, former college friends, potential employers, future clients, etc.—about, for example:
  • Your new job;
  • A change of title or area of responsibility;
  • Your new qualifications;
  • A change of contact details;
  • Awards or other recognition; or
  • Publication of academic papers or articles.
Simply send an e-mail—one line of information can be enough, but feel free to add more if you so wish—to the CIA's English Editor at and we will aim to include it in the next issue of the (e)Bulletin.

For more news of CIA members and their activities, follow the CIA on Twitter.

Institute News

The Elections Committee is pleased to present its slate of candidates for election to the CIA Board for terms beginning in 2014.

There are 11 candidates for Director, but there will be no voting for a President-elect; Robert Stapleford has been elected to the position by acclamation. This slate of candidates was developed through the election process adopted by the CIA in 2007, and includes candidates identified by the committee as well as any members who put their names forward.

Position statements and biographical data for all of the candidates are available on the CIA website as of today, April 30, which marks the beginning of the election campaign period. Candidates have been invited to participate in an online discussion forum from April 30 to May 14, and to post responses to topics suggested by the 2014 Elections Committee or members. Members can view discussions by candidate or by topic and post comments on a candidate’s response to create a discussion. Members may also propose additional topics that could be discussed by candidates.

Voting members will be able to cast their votes electronically from noon on May 14 until 3:00 p.m. EDT on June 4. An e-mail will be sent to members, at the beginning of the voting period, with instructions on how to submit a ballot.

Slate of Candidates:

President-elect for 2014–2015 (elected by acclamation)
Robert H. Stapleford

Candidates for Director
David J. Congram
Alan R. Cooke
Jorgen (John) D. Have
Richard Gauthier
Kevin A. Lee
Karen L. Lockridge
Geoffrey E. Melbourne
Alnasir H. Samji
Donald G. Tettmar
Keith E. Walter
A. Kim Young


By Karen Lockridge, FCIA

The March (e)Bulletin announced the creation of the CIA Committee on Climate Change and Sustainability. This article provides further information about the committee.

  • Formation – The creation of the committee was approved by the Member Services Council (MSC) during its meeting of February 25. As the CIA member who proposed it, I am serving as interim chair until the full initial membership is approved by the MSC at its June meeting.
  • Mandate – A draft mandate has been approved by the MSC and is posted on the CIA website. It will be subject to review and revision by the committee once the membership has been approved by the MSC. It was developed taking into consideration the mandates of similar committees of other actuarial organizations, including the:
    • International Actuarial Association Resource and Environment Working Group;
    • Society of Actuaries International Working Group on Actuarial Sciences and Sustainability;
    • Casualty Actuarial Society Climate Change Committee, and the Climate Index Working Group; and
    • Institute and Faculty of Actuaries Resource and Environment Member Interest Group.
  • Membership – A call for volunteers was issued via e-mail on March 7 to members on the CIA Volunteer Applicant Registry. If any other members are interested in applying to serve on this committee, please do so online (on the committee’s web page—log into the members site and then navigate to it under Organization) by May 14.
  • Initial Call – An initial conference call involving interested members was held on April 17. This was an introductory call to review the CIA strategic plan, the draft mandate of the committee, related actuarial activity, 2014 objectives, and the upcoming CIA Annual Meeting.
  • Next Steps – We are hoping to schedule a session at the CIA Annual Meeting in June to provide an update on this new committee, as well as to provide members a chance to share their views and provide input. However, this has not yet been confirmed.

If you have any further questions or comments on this committee, feel free to contact me at

Karen Lockridge is Interim Chair of the Committee on Climate Change and Sustainability.

Actuaries, academics, and actuarial students were given a chance to demonstrate their talents at an unusual event backed by the Institute and a few insurance industry organizations.

Actulab, in collaboration with the CIA, the École d’actuariat of Université Laval, and a few insurance industry sponsors, invited actuaries and the academic community to the university last month.

There, three insurers challenged the participants’ talents to find potential solutions to property and casualty insurance problems. Acting singly or in teams, visitors were able to demonstrate their expertise to industry stakeholders.

Actulab is an organization set up to promote actuarial innovation, and it brings members of the profession together with students, academics, and others by asking them to solve practical problems facing the industry—the challenges at last month’s event involved home insurance in Alberta, car insurance ratings in Ontario, and car insurance promotions in Québec. Participants offer solutions in person or online to win prizes donated by sponsors; those who submitted the best answers to the three problems posed at Université Laval could each earn $1,000. Future events could focus on other areas of actuarial involvement.

For more on Actulab, visit its website (in French only).

CIA President Jacques Lafrance, left, presenting a cheque on behalf of the Institute to Actulab, represented by its founder, Frédérick Guillot. To the right is Denis Latulippe, director of the École d’actuariat of Université Laval.

Some of the actuaries and others who took part.

There was plenty of time for networking and socializing, a key aspect of the event.


Potential actuaries have been given an insight into the profession thanks to a partnership between the CIA and a Québec youth initiative.

Earlier this month the Institute helped Jeunes Explorateurs d’un jour liaise with CIA members who were willing to invite students to spend a day with them in their offices.

Jeunes Explorateurs d’un jour enables Secondary IV and V and college-level students to explore occupations that may be of interest to them. These opportunities are available so that young people can learn about job perspectives, the environment in which they may eventually work, and the tasks professionals perform.

Once again, the annual event proved a great success: 15 high school students enjoyed a busy day discovering more about life as an actuary and what working in the profession might involve. However, nine young people from Montréal could not find a placement at local companies, and the organizers are hoping that next year more actuaries will volunteer so that every interested student can be accommodated.

The event is proving to be a great way to make students aware of actuarial science and what it can offer. In preparation for 2015, Québec actuaries are urged to learn more by visiting or e-mailing Jean-David Tremblay at

La Capitale was one of the companies that took part. Samuel Chrétien, a student at École secondaire La Camaradière, is pictured (second left) at its offices with, from left, Frédéric Joncas, actuarial services coordinator; Samuel Sauvageau, actuarial junior analyst; and Pier-Luc Boucher, development analyst.



Mercy Yan

1. Why did you become an actuary?

The profession was recommended to me by my professor at the university.

2. When you tell people you’re an actuary, what do they think you do?

Many people are not aware of this profession and appear to be lost when I tell them. Those who have heard of it believe it to be related to insurance.

3. Who has inspired you the most during your career? Did you have a mentor in your early career?

In my career, I have had many individuals who have helped to inspire me along this actuarial path. From my professors to my colleagues and now my fellow Board members, they each play an important role.

4. What do you enjoy most about your job?

I enjoy the challenges of applying the actuarial concepts in my work.

5. What career would you follow if you weren’t an actuary?

I would probably pursue a career in engineering.

6. What are your hobbies?

My hobbies are swimming and reading.

7. What is your favourite music, book, and film?

My favourite music is classical. My favourite book is Pride and Prejudice by Jane Austen and my favourite film is The Sound of Music.

8. Where is your dream vacation destination?

I have been fortunate enough to travel to my dream vacation destination, Hawaii. It continues to be my favorite destination because it has beautiful beaches and fantastic scenery.

9. What do you do better than anyone you know?

Not sure what I do better than others, as I try not to compare myself with other people.

10. If you could be anybody else, alive or dead, who would it be, and why?

I like to be myself, as I enjoy my life with my family and friends.

Mercy Yan is assistant vice-president and tax actuary of corporate taxation at Manulife Financial.

If you would like to be featured in Introduce Yourself, please answer the 10 questions above by completing our online form here.


April's published documents:


Luncheon – President’s Farewell Speech, Change of Office, Incoming President’s Address, Volunteer Awards Ceremony


Additional Guidelines for FCIA Application


Educational Note—Assumptions for Hypothetical Wind-Up and Solvency Valuations with Effective Dates between December 31, 2013, and December 30, 2014

Communiqué: Canada’s actuaries see federal interest in target benefit pension plans as a positive development

2014 Elections – David J. Congram, FCIA(1968), FIA(1967), ASA(1968)


2014 Elections – Alan R. Cooke, FCIA(1977), FSA(1977), MAAA(1980)


2014 Elections – Richard M. Gauthier, FCIA(1989), FCAS(1988)


2014 Elections – Jorgen (John) D. Have, FCIA(1976), FSA(1976)


2014 Elections – Kevin A. Lee, FCIA(1999), FCAS(1999), MAAA(2000)


2014 Elections – Karen L. Lockridge, FCIA(1994), FSA(1994)


2014 Elections – Geoffrey E. Melbourne, FCIA(2005), FSA(2005)


2014 Elections – Alnasir H. Samji, FCIA(1982), FSA(1981), AIA(1976)


2014 Elections – Donald G. Tettmar, FCIA(1976), FSA(1976), MAAA(1979)


2014 Elections – Keith E. Walter, FCIA(1985), FSA(1985)


2014 Elections – A. Kim Young, FCIA(1994), FSA(1994)


2014 CIA Election Candidate Discussion Forum User Instructions


Exposure Draft for Standards of Practice – Revisions to the General and Practice-Specific Standards – Consistency of Reporting and Conformance with International Standard of Actuarial Practice 1


Predictive Modelling – Uses in Decision Making


Reinsurance Market Conditions and Capital Tranching


Proposed Regulatory Capital Framework


CLIFR – News and Views


Revised Notice of Intent Regarding Standards of Practice for the Use of Models


FCIA Application – Certification of Work Experience Form (Direct Supervisor)


FCIA Application – Certification of Work Experience Form (Non-direct Supervisor)


2014 Sponsorship Prospectus


Luncheon – New Fellow Awards Ceremony and Speaker Eric Garland


Own Risk and Solvency Assessment


CIA Travel Policy for Volunteers and Staff


Educational Note on Participating Insurance, and OSFI on Actuarial Oversight of ALM


Initial Communication of a Promulgation of Calibration Criteria for Investment Returns Referenced in the Standards of Practice for the Valuation of Insurance Contract Liabilities: Life and Health (Accident and Sickness) Insurance (Subsection 2360)


Research Paper: Calibration of Fixed-Income Returns for Segregated Fund Liability


Registration Form for the 2014 Annual Meeting


Selection Form for the 2014 Annual Meeting


Highlights of CIA Board Meeting Nº79 Held on Thursday March 20, 2014


Member Services Council Agenda - Meeting nº 106 (April 8, 2014)

Eligibility and Education Council Agenda - Meeting nº 112 (April 7, 2014)

Canadian Pensioners Mortality Data Tool

Submission to the International Actuarial Association: Comments on the Exposure Draft of ISAP 3 Actuarial Practice under IAS 19 Employee Benefits, and the ISAP 3 Glossary (ED) markedup

April's tweets from @CIA Actuaries:

OSFI issues advisory on #basel #disclosure requirements

Registration is OPEN for CIA #AnnualMeeting in #Vancouver. Can you risk not attending?

#Actuaries say federal interest in #Target #Benefit #Plans positive

Government interest in #target #benefit #pension plans is positive step, say Canada's #actuaries

Want to reach Canada’s #actuarial community? Consider #Sponsorship of CIA events

Why it's time to stop planning your 100th birthday party

#Actuaries tell us your key Canadian issues and shape closing #keynote at 2014 CIA #AnnualMeeting by @cbcian

#Actuary once again rated one of the top five #jobs in North America

#Actuary Fred Vettese: why our #RRSP contribution rate is so much better than it looks via @financialpost

15 students were able to spend a day with an #actuary on April 10. Thank you to all who volunteered for this wonderful experience!

#Actuaries #EnterpriseRiskManagement (#ERM) Symposium in #Chicago is calling for seminar and presentation ideas.

#Actuaries new #Pension Assessment Remittance Form from OSFI

Thanks for the RT’s. Congrats to @EmilyOriginalG on winning #Starbucks to celebrate our 500th tweet.

Canadian regulator OSFI releases proposed #residential #mortgage #insurance guidelines

#Actuaries it’s #NationalVolunteerWeek. Thank you to our outstanding CIA volunteer community.

Leading #Actuaries #CPD #Networking and #Learning at CIA Annual Meeting in #Vancouver June 18-19 RT to WIN #starbucks

Join us: Video #Webcast The Third Rail – Confronting Our #Pension Failures with writer @jacquiemcnish and Jim Leech

CIA #FCIA’s new postings in our #Actuarial #Jobs Bank

Coming up on our 500th tweet and we’d like to start your day right. Retweet our 500th tweet and you could win a $20 #Starbucks eGift

CIA #FCIA Malcolm Hamilton penned the CD Howe report on the #compensation of federal officials

Julie Dickson at Canadian Reinsurance Conference says we must all apply the lessons learned from the financial crisis

#FCIA’s shape the future of the actuarial profession and play an essential role in CIA governance. Will YOU be a candidate?

Calendar of Events
Board and Council Updates


The nomination of Marie-Hélène Malenfant as Vice-chair of the Member Services Council has been approved, effective immediately.

Eligibility and Education Council

The following people have been appointed to the committees/task forces named below:

  • Eligibility: Maxime-Frédéric Brochu-Leclair (Chair), effective July 1, 2014;
  • 50th Anniversary Annual Meeting Celebration: Deborah McMillan, effective immediately;
  • Accreditation: Bruce Jones and Bruno Gagnon, re-appointed, effective July 1, 2014; Patrick Kavanagh and Rachit Agarwal, effective immediately; and
  • Academic Relations: Mathieu Boudreault re-appointed for one year as chair, effective immediately; Frédérick Guillot, effective immediately.

For information only:

Michel Trudeau resigned from the CIA Exam 6-Canada Syllabus Committee.

Luc Bergeron and Frédéric Jacques completed their terms on, and Alanna Rand resigned from, the ILA and FIN/INV Exam Committees for the 2014 Practice Education Course, and leave with thanks.

Lynn Grenier-Lew completed her term on the Task Force on the 50th Anniversary Annual Meeting Celebration, and leaves with thanks.

Member Services Council

The following people have been appointed to the groups named below, effective April 1, 2014:

  • Research Committee: Scott McManus;
  • Pension Experience Subcommittee: Scott McManus (Chair); and
  • P&C Research Subcommittee: Frédérick Guillot.

The MSC has approved the creation of a Committee on Public Positions with the following mandate:

The committee is charged with the review and approval of all public positions of the Institute, pursuant to the Policy on the Approval of Administrative Policies and Public Positions. Public positions do not include material covered under the Policy on the Approval Process for International Submissions, the Policy on Due Process for the Approval of Guidance Material other than Standards of Practice (e.g., educational notes), or committee or task force reports, or research reports. These documents could, however, serve as the basis for an Institute public position.

The committee shall normally be composed of 10–15 experienced CIA volunteers, and include multiple members from each major practice area. The CIA President shall automatically be appointed as a member of the committee. Not all members of the committee will necessarily be involved in the approval of each public position. However, the President, or his or her delegate, shall normally review all public positions prior to their release.

For information only:

Kim Young completed his mandate as Chair of the Pension Experience Subcommittee, effective April 1, 2014.