ACOPA Leadership Council Update

By Karen Smith • June 17, 2016 • 0 Comments
Earlier this month, ACOPA members were emailed information about two changes to the ACOPA Operating Principles (OP). In July, ACOPA members will have an opportunity to vote on these changes. I recommend that membership approve the changes.

The first set of OP changes are related to the disciplinary process changes that ACOPA began working on when Lynn was still ACOPA President! The road to get these changes fully implemented has been long and winding, but we are approaching the end. As a reminder, earlier this year ACOPA membership approved ACOPA signing an updated Joint Discipline Council agreement with the other U.S.-based actuarial organizations. Then ACOPA went to the American Retirement Association (ARA) board and asked ARA to update the ARA disciplinary procedures to conform. Lastly, now we are asking ACOPA membership to approve some conforming changes to the ACOPA OP. This is the final step in putting these disciplinary changes to rest – for now at least!

The second set of OP changes are some cleanup items. The first is to change the name of the “Operating Principles” to “Operating Policies and Procedures” to better reflect the contents of the OP. The second item is to make it make it crystal clear that ACOPA members have the right to vote for ARA at-large board members and on ARA bylaw amendments. No one has questioned that right, but the wording has not been updated since ARA was implemented. From time to time, it is going to be necessary for us to make these types of changes so that our OP corresponds to the ARA bylaws and procedures. These cleanup items are not urgent, but they are important. We don’t want our OP to get out of sync with the ARA documents and then have future generations question what we intended. So, I imagine that within the next couple of years there will be additional changes like these that need to be approved.

One of the many things that makes ACOPA special is that membership has the opportunity to vote on so many items. So please watch for the opening of the election period next month.