Regulations for Continuing Professional Education Requirements of the Joint Board for the Enrollment of Actuaries
| Published date | 14 March 2024 |
| Record Number | 2024-05240 |
| Citation | 89 FR 18579 |
| Court | Joint Board For The Enrollment Of Actuaries |
| Section | Proposed rules |
Federal Register, Volume 89 Issue 51 (Thursday, March 14, 2024)
[Federal Register Volume 89, Number 51 (Thursday, March 14, 2024)]
[Proposed Rules]
[Pages 18579-18583]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05240]
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JOINT BOARD FOR THE ENROLLMENT OF ACTUARIES
20 CFR Part 901
[REG-127915-17]
RIN 1545-BQ30
Regulations for Continuing Professional Education Requirements of
the Joint Board for the Enrollment of Actuaries
AGENCY: Joint Board for the Enrollment of Actuaries.
ACTION: Proposed rule.
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SUMMARY: This document sets forth proposed regulations that would amend
the continuing professional education requirements for actuaries
enrolled by the Joint Board for the Enrollment of Actuaries (Joint
Board). These proposed regulations would remove the physical presence
requirement for formal continuing professional education programs
required for active enrolled actuaries and the physical location
requirement from course certifications. These proposed regulations also
would modify the continuing professional education requirement for
certain actuaries who seek to return to active enrollment from inactive
status due to their failure to timely satisfy the renewal requirements
in the first enrollment cycle after their initial enrollment cycle.
Finally, the proposed regulations would add a requirement that
certificates of instruction for continuing professional education
courses include the number of hours counted towards the required number
of hours for formal programs. These proposed regulations solely address
the enrollment rules of the Joint Board and do not affect pension
plans, plan participants, or the general public.
DATES: Written or electronic comments and requests for a public hearing
must be received by April 15, 2024.
ADDRESSES: Commenters are strongly encouraged to submit public comments
electronically. Submit electronic submissions via the Federal
eRulemaking Portal at www.regulations.gov (indicate IRS and REG-127915-
17) by following the online instructions for submitting comments.
Requests for a public hearing must be submitted as prescribed in the
``Comments and Requests for a Public Hearing'' section. Once submitted
to the Federal eRulemaking Portal, comments cannot be edited or
withdrawn. Because the Joint Board's Executive Director office is
within the IRS Return Preparer Office, the Department of the Treasury
(the Treasury Department) and the Internal Revenue Service (IRS) will
publish for public availability any comment, whether submitted
electronically or on paper, to its public docket. The Treasury
Department and the IRS are collecting comments on behalf of the Joint
Board. Send paper submissions to: CC:PA:01:PR (REG-127915-17), Room
5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station,
Washington, DC 20044.
FOR FURTHER INFORMATION CONTACT: Thomas Curtin, Executive Director,
Joint Board for the Enrollment of Actuaries at (202) 317-3559;
concerning submission of comments, the public hearing, and the access
code to attend the hearing by telephone, Vivian Hayes at (202) 317-6901
(not toll-free numbers) or [email protected] (not toll-free
numbers).
SUPPLEMENTARY INFORMATION:
Background
This document sets forth proposed amendments to 20 CFR part 901
under section 3042 of the Employee Retirement Income Security Act of
1974 (88 Stat. 829), Public Law 93-406 (ERISA). Section 3042 of ERISA
provides that the Joint Board shall, by regulations, establish
reasonable standards and qualifications for persons performing
actuarial services with respect to plans to which ERISA applies and,
upon application by any individual, will enroll such individual if the
Joint Board finds that such individual satisfies such standards and
qualifications. The Joint Board's Executive Director and staff are
located within the IRS's Return Preparer Office, and, accordingly, the
Treasury Department and the IRS are assisting with the drafting of
these proposed regulations.
Section 901.11 of the Joint Board regulations provides enrollment
procedures for the Joint Board, including continuing professional
education requirements for enrolled actuaries. Section 901.11(d)
provides that, to maintain active enrollment to perform actuarial
services under ERISA, each enrolled actuary is required to periodically
renew enrollment. Pursuant to section 901.11(d)(1), the process for
renewing enrollment as an enrolled actuary with the Joint Board occurs
on a three-year cycle. Part of the renewal process includes a
certification that the actuary satisfied a continuing professional
education requirement. Pursuant to section 901.11(e)(2)(i), 36 hours of
continuing professional education credits are required within the
three-year cycle for every enrolled
[[Page 18580]]
actuary. For newly enrolled actuaries, however, the 36-hour requirement
is reduced pursuant to section 901.11(e)(2)(ii) or (iii) depending on
the particular year of the three-year cycle in which the actuary
enrolled. Under these rules, those who initially enroll during the
first year of an enrollment cycle must complete 24 hours of continuing
professional education; those who enroll during the second year of an
enrollment cycle must complete 12 hours of continuing professional
education; and those who enroll during the third year of an enrollment
cycle are exempt from the continuing professional education
requirements until the next enrollment cycle.
Pursuant to section 901.11(f)(1), in order to earn their required
continuing professional education credits, enrolled actuaries must
attend qualifying programs (as defined in section 901.11(f)(2))
conducted by qualifying sponsors (as defined in section 901.11(f)(3))
and at least a third of the credits must be earned by attending a
formal program (as defined in section 901.11(f)(2)(ii)). Formal
programs under section 901.11(f)(2) are required to include an in-
person element, and special rules apply depending on whether the
enrolled actuary is participating in the program as a participant or as
an instructor (physical presence requirement). A program participant
must simultaneously participate in the program in the same physical
location with at least two other participants engaged in substantive
pension service, and the participants must have the opportunity to
interact with a qualified individual who serves as an instructor
(whether or not in the same physical location). Instructors, however,
must be in the physical presence of at least three other individuals
engaged in substantive pension service.
Section 901.11(f)(3) defines qualifying sponsors as organizations
recognized by the Executive Director of the Joint Board whose programs
offer opportunities for continuing professional education. Pursuant to
section 901.11(f)(3)(iv), upon verification of successful completion of
a qualifying program, the program's qualifying sponsor must furnish
each individual who successfully completed the qualifying program with
a certificate listing certain information, including the location of
the program. Section 901.11(f)(3)(v) further requires that the
program's qualifying sponsor must furnish to each instructor,
discussion leader, or speaker a certificate listing certain
information, including the location of the program.
An actuary who fails to timely satisfy the requirements for renewal
of enrollment is placed in inactive status pursuant to section
901.11(l)(4). Section 901.11(l)(7)(i) specifies the continuing
professional education requirements for actuaries who seek to return to
active enrollment after being placed in inactive status. Currently,
under section 901.11(l)(7), all actuaries in their first inactive
enrollment cycle, including newly enrolled actuaries, must complete 36
hours of qualifying continuing professional education in order to
return to active status. That is, section 901.11(l)(7)(i) disregards
the special rules under section 901.11(e)(2)(ii) or (iii) that prorate
the number of hours of continuing professional education required for
newly enrolled actuaries based on the year of their initial enrollment.
Prior to the commencement of the COVID-19 pandemic, some interested
parties had sent comments to the Joint Board expressing the view that
the physical presence requirement is outdated and imposes a burden on
actuaries who are unable, for health, safety, or other reasons, to meet
the physical presence requirement. Once the COVID-19 pandemic
commenced, qualifying sponsors were prevented from conducting in-person
continuing professional education programs. As a result, and consistent
with its waiver authority under section 901.11(k), the Joint Board
announced in August of 2020, via a news release (IR-2020-177, August
10, 2020), and notified all enrolled actuaries and qualifying sponsors,
that the Joint Board was waiving the physical presence requirement for
continuing professional education programs through the end of the
enrollment cycle ending on December 31, 2022. The Joint Board announced
in March of 2024, and notified all enrolled actuaries and qualifying
sponsors, that the waiver was being extended. The extended waiver
applies to continuing professional education credits earned for
programs held during the period from January 1, 2023, through the date
that is 30 days after the publication of the Treasury decision
finalizing these proposed regulations.
Explanation of Provisions
A. Modification of Definition of Formal Program
This document sets forth proposed regulations that would amend
section 901.11 of the Joint Board regulations to remove the physical
presence requirement from the definition of a formal program. After
considering the input of interested parties and taking into account the
successful operation of the continuing professional education programs
that were conducted during the COVID-19 pandemic in 2020, 2021, and
2022 without a physical presence requirement, the Joint Board is
proposing to permanently eliminate the physical presence requirement
for formal continuing professional education programs for active
enrolled actuaries and also to permit educational materials to be
delivered in an electronic format.
In eliminating the physical presence requirement, these proposed
regulations would remove the requirement that the instructor of a
qualifying program be in the physical presence of the program
participants in order for the instructor to receive formal credit and
the requirement that a program participant be in the same physical
location as other program participants in order for the participant to
receive formal credit. These proposed regulations would retain the
requirement that the participants have an opportunity for real-time
interaction with an instructor to receive formal credit. These proposed
regulations would further provide that any materials (for example,
outlines, or textbooks) for the qualifying program still need to be
written and made available to the participant, but need not be provided
in physical paper-based form; rather, they could be provided by any
other mode of conveying written educational material.
B. Amendment to the Additional Continuing Professional Education
Requirement for Return to Active Enrollment From Inactive Status
These proposed regulations would change the requirement in section
901.11(l)(7)(i) that an enrolled actuary who fails to satisfy the
renewal requirements by the deadline set forth in section 901.11(d)
must complete 36 hours of continuing professional education, if the
failure to timely renew is for the enrollment cycle immediately
following the actuary's initial enrollment cycle. Specifically, these
proposed regulations would add an exception to the rule regarding the
number of continuing professional education hours required to renew
enrollment in this case. Under this exception, actuaries who fail to
timely renew their enrollment for the enrollment cycle immediately
following their initial enrollment cycle could adjust the requirement
to complete 36 hours of continuing professional education based on the
year of the prior cycle in which they initially enrolled pursuant to
section 901.11(e)(2)(ii) or
[[Page 18581]]
(iii). These proposed regulations provide an example that illustrates
the proposed change to the rule.
C. Amendment to the Information Requirement for Certificates of
Completion and Certificates of Instruction
These proposed regulations would eliminate the requirement that a
certificate of completion and a certificate of instruction list the
location of the training. These proposed regulations would also add a
requirement that the certificate of instruction include the number of
hours that are counted toward the formal program requirement in section
901.11(g)(2).
Effective Date
The regulations will not become effective until the date that is 30
days after the date of publication in the Federal Register of the
Treasury decision finalizing these proposed regulations. For a course
conducted on or after January 1, 2023, but prior to the date that is 30
days after the date the final regulations are published in the Federal
Register, the March 2024 waiver described in the Background section of
this preamble will apply with respect to the physical presence
requirement.
Special Analyses
It is hereby certified that these regulations would not have a
significant economic impact on a substantial number of small entities
within the meaning of section 601(6) of the Regulatory Flexibility Act
(5 U.S.C. chapter 6). The Joint Board believes that these proposed
changes would primarily affect individual actuaries enrolled by the
Joint Board and providers of their educational programs. These
amendments would update the regulations in light of the workplace
technology (including newly developed technology for delivering
education and educational materials) that became more prevalent in
response to the COVID-19 pandemic and that continues to develop in ways
that make the physical presence requirement unnecessary. In addition,
these amendments to the regulations would revise the continuing
professional education requirements for actuaries returning from
inactive status and provide an exception to the 36-hour continuing
professional education requirement for recently enrolled actuaries who
fail to timely satisfy the requirements for renewal of enrollment.
Notwithstanding this certification, the Joint Board invites comments
from the public about the impact of these proposed regulations on small
entities.
This rule has been designated as not significant for purposes of
Executive Order 12866, as amended.
Paperwork Reduction Act
Any collection of information under these proposed regulations has
been reviewed and approved by the Office of Management and Budget in
accordance with the requirements of the Paperwork Reduction Act (44
U.S.C. 3507) under control number 1545-0951. The regulations (20 CFR
901) require that records be kept that verify satisfaction of
requirements and requirements for certificates of completion of
continuing education. It is estimated that this recordkeeping will take
.25 hours and that there are 4,100 recordkeepers annually for a total
of 1,000 burden hours. Comments concerning the collection of
information and the accuracy of estimated average annual burden and
suggestions for reducing this burden should be sent to the Office of
Management and Budget, Attn: Desk Officer for the Department of the
Treasury, Office of Information and Regulatory Affairs, Washington, DC
20503, with copies to the Internal Revenue Service, IRS Reports
Clearance Officer, SE:W:CAR:MP:T:T:SP, Washington, DC 20224. Comments
on the burden associated with this collection of information must be
received by May 13, 2024.
Comments and Requests for a Public Hearing
Before these proposed amendments to the regulations are adopted as
final regulations, consideration will be given to comments that are
submitted timely to the Joint Board as prescribed in the preamble under
the ADDRESSES section. The Joint Board requests comments on all aspects
of these proposed regulations. Any comments submitted will be made
available at www.regulations.gov or upon request.
A public hearing will be scheduled if requested in writing by any
person who timely submits electronic or written comments. Requests for
a public hearing are also encouraged to be made electronically by
sending an email to [email protected]. If a public hearing is
scheduled, notice of the date and time for the public hearing will be
published in the Federal Register.
Drafting Information
The principal author of these regulations is Tom Morgan of the
Office of Associate Chief Counsel (Employee Benefits, Exempt
Organizations, and Employment Taxes). Other personnel from the Treasury
Department, the IRS, and the Joint Board also participated in the
development of these regulations.
List of Subjects in 20 CFR Part 901
Regulations governing the performance of actuarial services under
the Employee Retirement Income Security Act of 1974.
Proposed Amendments to the Regulations
Accordingly, 20 CFR part 901 is proposed to be amended as follows:
PART 901--REGULATIONS GOVERNING THE PERFORMANCE OF ACTUARIAL
SERVICES UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974
0
Paragraph 1. The authority citation for part 901 continues to read as
follows:
Authority: Sec. 3042, subtitle C, title 3, Employee Retirement
Income Security Act of 1974. (88 Stat. 1002, 29 U.S.C. 1241, 1242) *
* *
0
Par. 2. Section 901.11 is amended by:
0
1. Revising paragraphs (f)(2)(i)(D) and (f)(2)(ii)(A);
0
2. In paragraph (f)(2)(ii)(B), by removing ``and the instructor is in
the physical presence of at least three other individuals'';
0
3. In paragraph (f)(3)(iv)(C), by removing ``, location,'';
0
4. In paragraph (f)(3)(v)(C), by removing ``and location'';
0
5. Revising paragraph (f)(3)(v)(F);
0
6. Revising paragraph (I)(7)(i); and
0
7. Revising paragraph (o).
The revisions read as follows:
Sec. 901.11 Enrollment procedures.
* * * * *
(f) * * *
(2) * * *
(i) * * *
(D) Includes outlines, textbooks, and other written educational
material;
* * * * *
(ii) * * *
(A) Participants. Formal programs are programs that meet all of the
requirements of this paragraph (f)(2)(ii) and paragraph (f)(2)(i) of
this section. Whether a program qualifies as a formal program is
determined on a participant-by-participant basis. A qualifying program
qualifies as a formal program with respect to a participant if the
participant has the opportunity for real-time interaction with another
individual qualified with respect to the course content who serves as
an instructor, and at least three individuals engaged in substantive
pension service simultaneously participate in the
[[Page 18582]]
program in addition to the instructor. A qualifying program that is
pre-recorded will qualify as a formal program with respect to a
participant if the participant has the opportunity for real-time
interaction immediately after the pre-recorded program with a qualified
individual who serves as the instructor or discussion leader and is
available to answer questions, and at least three individuals engaged
in substantive pension service simultaneously participate in the entire
program (including the discussion time immediately following the pre-
recorded program) in addition to the instructor or discussion leader.
* * * * *
(3) * * *
(v) * * *
(F) Whether or not the program is a formal program with respect to
the instructor and the number of hours counted toward the formal
program requirement.
* * * * *
(l) * * *
(7) * * *
(i) During the first inactive enrollment cycle, 36 hours of
qualifying continuing professional education as set forth in paragraph
(e)(2) of this section, without regard to the reduction in hours
provided to newly enrolled actuaries set forth in paragraph (e)(2)(ii)
or (e)(2)(iii) of this section must be completed, except with regard to
actuaries whose first inactive cycle immediately follows the initial
enrollment cycle, in which case, paragraph (e)(2)(ii) or (e)(2)(iii) of
this section may be applied. Any hours of continuing professional
education credit earned during the immediately prior enrollment cycle
may be applied in satisfying this requirement.
* * * * *
(o) Examples. The following examples illustrate the application of
the rules of paragraph (l)(7) of this section and the effective date of
an enrolled actuary's renewal:
(1) Example 1. Individual E, who was initially enrolled before
January 1, 2008, completes 12 hours of core continuing professional
education credit and 24 hours of non-core continuing professional
education credit between January 1, 2011, and December 31, 2013. E
files a complete application for reenrollment on February 28, 2014. E's
reenrollment is effective as of April 1, 2014.
(2) Example 2. Individual F, who was initially enrolled before
January 1, 2008, also completes 12 hours of core continuing
professional education credit and 24 hours of non-core continuing
professional education credit between January 1, 2011, and December 31,
2013. However, F does not file an application for reenrollment until
March 20, 2014. The Joint Board notifies F that it has granted F's
application on June 25, 2014. Accordingly, effective April 1, 2014, F
is placed on the roster of inactive enrolled actuaries. F returns to
active status as of June 25, 2014. F is ineligible to perform pension
actuarial services as an enrolled actuary under ERISA and the Internal
Revenue Code from April 1 through June 24, 2014.
(3) Example 3. Individual G, who was initially enrolled before
January 1, 2008, completes only 8 hours of core continuing professional
education credit and 24 hours of non-core continuing professional
education credit between January 1, 2011, and December 31, 2013. G
completes another 6 hours of core continuing professional education on
January 15, 2014, and files an application for return to active status
on January 20, 2014. G's application shows the timely completion of 32
hours of continuing professional education plus the additional 4 hours
of continuing professional education earned after the end of the
enrollment cycle. The Joint Board notifies G that it has granted the
application on April 20, 2014. Accordingly, effective April 1, 2014, G
is placed on the roster of inactive enrolled actuaries. G returns to
active status as of April 20, 2014. G is ineligible to perform pension
actuarial services as an enrolled actuary under ERISA and the Internal
Revenue Code from April 1 through April 19, 2014. Of the 6 hours of
continuing professional education earned by G on January 15, 2014, only
2 hours may be applied to the enrollment cycle that ends December 31,
2016.
(4) Example 4. (i) Individual H, who was initially enrolled before
January 1, 2008, completes 5 hours of core continuing professional
education credit and 10 hours of non-core continuing professional
education credit between January 1, 2011, and December 31, 2013.
Accordingly, effective April 1, 2014, H is placed on the roster of
inactive enrolled actuaries and is ineligible to perform pension
actuarial services as an enrolled actuary under ERISA and the Internal
Revenue Code.
(ii) H completes 7 hours of core continuing professional education
credit and 14 hours of noncore continuing professional education credit
between January 1, 2014, and May 24, 2016. Because H has completed 12
hours of core continuing professional education and 24 hours of non-
core continuing professional education during the last active
enrollment period and the initial period when on inactive status, H has
satisfied the requirements for reenrollment during the first inactive
cycle. Accordingly, H may file an application for return to active
enrollment on May 24, 2016. If this application is approved, H will be
eligible to perform pension actuarial services as an enrolled actuary
under ERISA and the Internal Revenue Code, effective with the date of
such approval.
(iii) Because H used the 21 hours of continuing professional
education credit earned after January 1, 2014, for return from inactive
status, H may not apply any of these 21 hours of core and non-core
continuing professional education credits towards the requirements for
renewed enrollment effective April 1, 2017. Accordingly, H must
complete an additional 36 hours of continuing professional education
(12 core and 24 non-core) prior to December 31, 2016, to be eligible
for renewed enrollment effective April 1, 2017.
(5) Example 5. (i) The facts are the same as in example 4 in
paragraph (o)(4) of this section except H completes 2 hours of core
continuing professional education credit and 8 hours of non-core
continuing professional education credit between January 1, 2014, and
December 31, 2016. Thus, because H did not fulfill the requirements for
return to active status during his first inactive cycle, H must satisfy
the requirements of paragraph (l)(7)(ii) of this section in order to
return to active status.
(ii) Accordingly, in order to be eligible to file an application
for return to active status on or before December 31, 2019, H must
complete an additional 38 hours of continuing professional education
credit (of which at least 14 hours must consist of core subject matter)
between January 1, 2017, and December 31, 2019, and have 18 months of
certified responsible pension actuarial experience during the period
beginning on January 1, 2014.
(iii) Note that the 5 hours of core continuing professional
education credit and the 10 hours of non-core continuing professional
education credit that H completes between January 1, 2011, and December
31, 2013, are not counted toward H's return to active status and are
also not taken into account toward the additional hours of continuing
professional education credit that H must complete between January 1,
2017, and December 31, 2019, in order to apply for renewal of
enrollment effective April 1, 2020.
(6) Example 6. (i) The facts are the same as in example 4 in
paragraph (o)(4) of this section except H completes 2 hours of core
continuing professional education credit and 8 hours of non-core
continuing professional education
[[Page 18583]]
credit between January 1, 2014, and December 31, 2016, and 12 hours of
core continuing professional education credit and 24 hours of non-core
continuing professional education credit between January 1, 2017, and
December 31, 2019. Thus, because H did not fulfill the requirements for
return to active status during his first or second inactive cycles, H
must satisfy the requirements of paragraph (l)(7)(iii) of this section
in order to return to active status.
(ii) Accordingly, in order to be eligible to file an application
for return to active status on or before December 31, 2022, H must
complete an additional 24 hours of continuing professional education
credit (of which, at least 8 hours must consist of core subject matter)
between January 1, 2020 and December 31, 2022, and have at least 18
months of certified responsible pension actuarial experience during the
period beginning on January 1, 2017.
(iii) Note that the total of 15 hours of continuing professional
education credit that H completes between January 1, 2011, and December
31, 2013, as well as the 10 hours of continuing professional education
credit between January 1, 2014, and December 31, 2016, are not counted
toward H's return to active status and are not taken into account
toward the additional hours of continuing professional education credit
that H must complete between January 1, 2020, and December 31, 2022, in
order to be eligible to file an application for renewal of enrollment
active status effective April 1, 2023.
(7) Example 7. (i) Individual J, who was initially enrolled July 1,
2012, completes 1 hour of core continuing professional education credit
and 2 hours of non-core continuing professional education credit
between January 1, 2012, and December 31, 2013. Accordingly, effective
April 1, 2014, J is placed on the roster of inactive enrolled actuaries
and is ineligible to perform pension actuarial services as an enrolled
actuary under ERISA and the Internal Revenue Code.
(ii) J completes 5 hours of core continuing professional education
credit and 4 hours of non-core continuing professional education credit
between January 1, 2014, and October 6, 2014. Because J did not
complete the required 12 hours of continuing professional education (of
which at least 6 hours must consist of core subject matter) during J's
initial enrollment cycle, J is not eligible to file an application for
a return to active enrollment on October 6, 2014, notwithstanding the
fact that had J completed such hours between January 1, 2012, and
December 31, 2013, J would have satisfied the requirements for renewed
enrollment effective April 1, 2014.
(iii) Accordingly, J must complete an additional 24 hours of
continuing professional education (of which at least 12 hours must
consist of core subject matter) during his/her first inactive
enrollment cycle before applying for renewal of enrollment.
(8) Example 8. The facts are the same as in example 7 in paragraph
(o)(7) of this section except that J completes 17 hours of core
continuing professional education credit and 16 hours of non-core
continuing professional education credit between January 1, 2014, and
February 12, 2015. Accordingly, because as of February 12, 2015, J
satisfied the continuing professional education requirements as set
forth in paragraph (e)(2) of this section without regard to paragraph
(e)(2)(ii) thereof, J may file an application for return to active
enrollment status on February 12, 2015.
(9) Example 9. Individual K was initially enrolled on July 1, 2024,
in the second year of the three-year enrollment cycle ending December
31, 2025. K satisfied all continuing professional education
requirements during the cycle. K fails to timely file for renewal for
the enrollment cycle beginning January 1, 2026, and instead files on
May 1, 2026, which is after the March 1, 2026, deadline for filing to
renew enrollment. Therefore, pursuant to paragraph (l)(4)(i) of this
section, K is placed in inactive status. Under paragraph (e)(2)(ii) of
this section, K, who was initially enrolled in the second year of an
enrollment cycle, was required to complete 12 hours of continuing
professional education in order to satisfy the continuing professional
education requirement to renew after K's initial enrollment. Under
paragraph (l)(7)(i) of this section, because K was placed on inactive
status for the enrollment cycle immediately following K's initial
enrollment cycle, K may apply the 12 hours of continuing professional
education credits that K earned during the prior enrollment cycle for
the purpose of returning to active status. K does not need to earn any
additional continuing professional education credits in order to return
to active status. Once K returns to active status for the enrollment
cycle beginning on January 1, 2026, K will be required to earn the full
36 hours of continuing professional education credits during that cycle
for renewal for the enrollment cycle beginning January 1, 2029.
* * * * *
Chet Andrzejewski,
Chair, Joint Board for the Enrollment of Actuaries.
[FR Doc. 2024-05240 Filed 3-13-24; 8:45 am]
BILLING CODE 4830-01-P
