Section Evolution FAQ
Why are we transitioning from the current Section model to Communities?
Over the years, section membership was dwindling as was volunteer engagement, specifically amongst younger and international members. The community model was tested and proved a number of successes including younger and international membership growth, broader volunteer opportunity selection, a structure of blended subject discussions, and it allowed volunteer leaders to focus on member value and engagement. This data, alongside volunteer surveying, supported the transition and desires of the new generation of actuaries who are looking for opportunities to get involved that don’t necessarily require an elected position and international members also want to feel more included. This new Community model allows for greater thought leadership and empowerment across membership and the opportunity for innovation.
How does this connect to a strategic vision for SOA?
The Society of Actuaries’ (SOA) Strategic vision contains 4 key aspects and the evolution of Sections to Communities fits in within all 4 goals:
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Emphasize Education on Skills: By allowing members to expand their knowledge and upskill through Community-hosted webinars, podcasts, and events we are emphasizing their education on skills.
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Accelerate International Growth: This new model will allow for greater international member involvement thus accelerating our international community member growth.
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Cultivate Community Experiences: The new community model allows for greater discussion and involvement between a new generation of actuaries, international members, and others who were previously not engaged. This encourages a greater flow of ideas and innovation through community discussions and events.
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Spotlight Societal Purpose: Community activities including events, webcasts, podcasts, and newsletters focus on topics driven by a strong sense of societal purpose.
How will members benefit?
Members will benefit from the opportunity to shine as thought leaders, participate in non-elected volunteer positions, and hear from a greater diversity of opinions, thoughts, and backgrounds.
How will this new model be funded?
Instead of each section drawing down individual Fund Balance, SOA pools all Fund Balances. Pooled Funds will then be distributed proportionately, as an Allocation. Once fund balances are depleted, Communities will be funded by the SOA’s operating budget.
What community will my section map to?
Sections will be re-homed within 7 total communities:
- Career Development
- Emerging Topics
- General Insurance
- Investment & Risk Management
- Health
- Life & Annuities
- Retirement
Current sections have been mapped to the broader communities, with the capability to retain subgroups within a community. Section Council leaders will be meeting with their sections to provide updates and further information on where your section falls within these new community homes.
How will research be funded?
Unlike sections, research from the communities will now be funded through a Community Research Committee. This committee is made up of one member from each of the seven Community Advisory Teams and will serve as a main point of contact for all Community research questions.
What is the timing of this new model?
Beginning this Fall, sections will begin planning meetings and will receive their 2025 allocation totals.
In the Spring of 2025, leader onboarding will begin for the new model and 2026 elections will now be Community elected positions.
In Summer 2025 sections will begin working together as Communities and planning meetings under this new structure. Fall of 2025 brings the opportunity for the public to join the new Communities as they will be fully operational, and the current Section model will officially come to an end.
Who can I contact if I have any questions?
Please contact communities@soa.org for any questions.