October 28, 2025, Chicago, IL – The Society of Actuaries (SOA) today announced the results of the SOA Bylaws governance proposal vote. There were 4,369 valid votes cast in the election representing 21% of eligible voting Fellows of the SOA. Votes in favor of the proposal (yes) were 2,714 or 62.1%. Votes against the proposal (no) were 1,655 or 37.9%. The vote did not meet the 2/3 threshold to approve the proposed changes to the SOA Bylaws.
Earlier this summer, the SOA Board approved the proposal for a package of governance changes and brought it to the Fellows for this vote. The proposal was developed to continue strengthening the SOA’s Board governance and help the organization meet the evolving needs of its members, employers and the public in a rapidly changing environment.
“While I’m disappointed by the outcome of the vote, the Board of Directors and I respect the Fellows’ decision,” said Amanda Hug, FSA, MAAA, MBA, SOA President and Chair. “We are proud of this work to develop the proposal by our Governance Project Task Force and by the extensive work of staff, Board members, and the Task Force to present and illustrate the details of the proposal to members before the vote.” Hug added, “While the proposal didn’t ultimately pass, it gained support from more than 60% of voting Fellows and can give us important guidance on improvements we can and should make to strengthen our governance process.”
“This proposal was the product of many hours of deep analysis and thought by members and staff and I couldn’t be prouder of their efforts,” added Greg Heidrich, SOA CEO. “Our Task Force members and staff worked hard to identify a set of changes we felt would meaningfully strengthen the SOA’s governance and we’re taking encouragement from the support of so many members, despite not reaching the bar for passage. It’s time now to step back, review the results and the member feedback carefully, while continuing to find ways to move the SOA and the actuarial profession forward,” added Heidrich.
For more information about the governance proposal visit soa.org/futureboard. Visit the SOA governance page for more information about the SOA Board and the strategic plan.
About the Society of Actuaries
With roots dating back to 1889, the Society of Actuaries (SOA) is the world’s largest actuarial professional organization with more than 34,000 actuaries as members in over 100 countries. The SOA’s purpose is to empower its members to drive solutions to life’s financial risks. To learn more, visit soa.org.