Application Denied. I guess I haven’t portrayed myself well enough in their eyes. It is a shame I can be denied enrollment after years of learning this industry and wasting months of my life during my children’s youngest years studying to be denied based on someone’s opinion. Looks like I have to appeal.
I’m sorry to hear. I didn’t realize they actually deny people, unless they don’t have the relevant experience.
Do you do a lot of pension valuations? I think those are key. You have to illustrate that you take some ownership in them, in helping set assumptions and describe step by step what you do in the valuation process and also how many times you have done it. Well, the enrolled actuary sets the assumptions, but the team runs the experience studies and can make suggestions on said assumptions. I’m just wondering if it’s your experience that’s lacking or you didn’t describe it to their satisfaction, and therefore an error in writing style for the essay.
Their letter of denial had assumed my work is heavily defined contribution based, even though I only mentioned I do some work on these types of plans on the original application. I put many more hours towards Defined Benefit Plans and my responses were only based on my experience with defined benefit plans, unless cross testing was necessary. I have to assume the reason for the denial is writing style. The letter also mentioned I hadn’t provided certain information requested, which upon review had been provided in both my first and second responses for additional information. I wouldn’t have applied yet if I didn’t have the experience.
hmmmm, yeah, it shouldn’t matter that some of your experience is in DC plans. I wrote that some of my experience was in retiree health, but also wrote that it was something tiny like 5% of my time, so they wouldn’t think it was the majority of my time. probably could have left the retiree health out entirely, but doesn’t seem like it hurt me.
what information was requested that they claimed you didn’t provide?
also, what does “appeal” mean? is it the same as re-applying?
Sorry to hear.
From what I’ve heard from my senior colleagues, it was heavily emphasized that the board was zooming in on detailed and involved experience pertaining to setting actuarial assumptions and analyzing actuarial gain/losses in pension valuations.
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yeah, I had a chunk of my essay devoted to that.
Application submitted on 1/16/23.
Request for additional information on 2/1/23.
Response to request submitted 2/2/23.
Approval on 3/10/23.
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good luck. that application is such a PITA.
Just got my EA! Achieved at age 25. Curious if there is any other coworkers or people you happen to know that got their credential at an earlier age. Seems that’s the earliest that I know of for our office.
I was hired November 16, 2020, so just barely met the 3 years of experience in pensions requirement too.
Submitted November 22, 2023
Acknowledgement Letter November 28, 2023
Request for Transcript November 29, 2023 (I sent it as an attachment with my application, but I guess they didn’t see it)
EA Application Approved February 15, 2024
A little under 3 months. Not bad.
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