Academic Initiatives Expense Guidelines

Academic members of the Society of Actuaries are eligible for reimbursement of expenses as identified in the Implementation Guidelines of the Academic Initiatives. Reimbursement requests relating to participation in SOA continuing education programs should be submitted to the Director of Continuing Education on a Continuing Education Presenter Expense Report. This form is available from the SOA Continuing Education Department. Reimbursement requests relating to participation on SOA Committees and Task Forces should be submitted to Gena Long. All requests must be submitted within 30 days from the last date costs were incurred for the specific meeting.

Only reasonable travel expenses in accordance with normal business practice and incurred in connection with Society business, as outlined below, will be considered for reimbursement. Personal or business expenses not related to Society business are not reimbursable.

Transportation:
Includes the cost of airline, train or intercity bus transportation and travel by private automobile at the IRS per mile rate (currently @ $0.44.5 U.S. per mile) up to maximum of the discounted coach ticket. Academics are requested to use any Society negotiated discounts or the least costly airfare available. Where circumstances make it impractical to use the discounted airfares, please advise the Society about the reason for the higher airfare. If an extra night (e.g., staying over a Saturday night) is required to get a lower fare, reimbursement for an extra day of charges (meal and hotel) will be provided if there is no increase in the total cost to the Society.

Please note, to receive reimbursement for air travel, original boarding passes, the itinerary and receipt must be submitted with your expense report.

The Society encourages the use of complimentary transportation when the hotel provides it. If alternate transportation is required, appropriate documentation should be provided to ensure reimbursement.

Local transportation charges (limousine, taxi, etc.) must be itemized and original receipts furnished in order to receive reimbursement.

Automobile rentals must be pre-authorized by appropriate Society staff to be considered reimbursable. Collision Damage Waiver (CDW) may be taken, but all other insurance coverage is declined.

Lodging:
Single rooms at the meeting site are fully reimbursable. If a spouse/guest shares a room and the double rate is higher than the single rate, academics will be reimbursed at the single room rate.

If alternate lodging is used, it will be reimbursed up to the single room rate at the meeting site.

Meals:
All reasonable meal expenses, including those reasonably associated with travel, will be fully reimbursed for the duration of the commitment.

Maximum reimbursable expenses are $20 breakfast, $30 lunch, and $50 dinner, for a daily maximum of $100. These limits include the cost of beverages served in association with the meals. (These amounts are not to be considered a per diem. Only actual expenses incurred, accompanied by original receipts for all meals, will be reimbursed.)

Meals will not be reimbursed when meal service, including Continental breakfast, is provided as part of the meeting agenda.

Spouse/guest meals are not reimbursed by the Society and are to be paid by the academic. Appropriate deductions should be shown on the expense reimbursement form. If the meal cost is not known, the academic should indicate that such a deduction should be made and the Society will deduct the appropriate amount.

Miscellaneous:
Original receipts must accompany all transportation, lodging, and meal expenses. To receive reimbursement for air travel, the original boarding passes, the itinerary and receipt must be submitted with the expense report.

Expenses for spouses or guests are not reimbursable.

Personal incidental expenses including cleaning, laundry, in-room video, minibar service, health club services, publications, and entertainment (including shows, movies, and sports, both participation and observation) are not considered reimbursable.

Reimbursement for facsimile (FAX) service for non-SOA related business is not reimbursable.

Other miscellaneous expenses will be reimbursed only with the prior approval of appropriate SOA staff.

Questions and requests for expense reimbursement forms may be directed to

• Gena Long
• Society of Actuaries
• 475 N. Martingale Road, Suite 600
• Schaumburg, IL 60173–2226
• ph: 847.706.3582
• e-mail: Gena Long