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Retirees
RE1. In the membership directory, my "Employment Type" is listed as "Retired." Does that mean my CPD status will be listed as "Retired" as well?
That depends. If you are eligible for reduced membership dues due to retirement, then your CPD status would be "Retired." However, if you're not eligible for reduced dues due to retirement, then your status would be "Compliant" or "Non-compliant," even if you've elected to list your employment type as retired.
RE2. What does it mean to be eligible for reduced dues due to retirement?
For 2009, there are two categories under which members could pay reduced membership dues due to retirement. They were category 2: attainment of age 55 and retirement to the point of current year's income (excluding retirement pay, Social Security or equivalent benefits and investment income) not exceeding the 2009 income limit ($30,000) or category 3: attainment of age 70. While the categories do not change frequently, they are subject to change so members should check the SOA Web site for the most current information. The income limit changes annually (it is currently set at 80 percent of the U.S. per capita income, rounded to the nearest thousand).
RE3. If I am eligible for reduced dues due to retirement am I subject to the SOA CPD Requirement?
Yes. All members are subject to the SOA CPD Requirement. However, the default disclosure status (the status that will be disclosed if you don't demonstrate compliance–see FAQ RE5) will be "Retired" because you are eligible for reduced dues due to retirement.
RE4. If I am eligible for reduced dues due to retirement, do I have to certify compliance?
No. Your status will be noted as "Retired" if the SOA does not receive any notification of compliance.
No member is required to certify compliance. However, non-retired members will be shown as "Non-compliant" in the membership directory should they fail to certify compliance.
RE5. I am eligible for reduced dues due to retirement. Because I do work occasionally, I maintain my continuing education to meet my qualification standards. Am I able to certify compliance so I can be shown as compliant in the SOA membership directory?
Yes. You may certify compliance with either the Basic Compliance provisions of Section B or the Alternative Compliance provisions of Section C. If you certify compliance, you will be shown as "Compliant" in the membership directory. However, because you are eligible for reduced dues due to retirement, if you do not certify, your status will be shown as "Retired."
RE6. If I am eligible for reduced dues due to retirement, would I ever be shown as "Non-compliant"?
No. The default status for members eligible for reduced dues due to retirement is "Retired."
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