29 U.S.C. § 1242 — Enrollment by Board; standards and qualifications; suspension or termination of enrollment

(a) The Joint Board must issue regulations setting reasonable standards and qualifications for people performing actuarial services for plans covered by this chapter. When an individual applies, the Board must enroll that person if the person meets those standards. For applications before January 1, 1976, the standards must include an appropriate period of responsible actuarial experience involving pension plans. For applications on or after that date, the standards must include education and training in actuarial mathematics and methods, shown by a degree in actuarial mathematics or its equivalent from an accredited college or university, passing an examination given by the Board, or passing other actuarial examinations the Board considers adequate. They must also include an appropriate period of responsible actuarial experience. Despite these rules, the Board may temporarily enroll actuaries until January 1, 1976, under interim standards it considers adequate. (b) After notice and an opportunity for a hearing, the Joint Board may suspend or end an individual’s enrollment if it finds that the individual failed to perform duties under this chapter or does not meet the enrollment requirements that applied when the individual enrolled. After notice and an opportunity for a hearing, the Board may also suspend or end temporary enrollment if the individual fails to perform duties under this chapter or does not meet the interim enrollment standards.