In 2025, the Board put before the members a comprehensive governance reform proposal.  While a majority of members supported the reform (62%), it did not get the 2/3 required majority to pass.

Member comments received during the vote suggested that a different package of reforms might pass.  A member survey in early 2026 suggested the three reforms being put forward to the members—reducing the Board size, separating the President and Chair roles, and allowing ASAs with 10 years or more of membership to serve on the Board — revealed positive but also varying views of each of the proposals.

Members offered comments after the 2025 Bylaws vote; these comments were reviewed by the Governance Review Implementation Task Force.  During early 2026, a survey was sent to all FSAs to determine what reforms were most supported by the fellows. Based on these findings, the Task Force developed proposed Bylaws amendments designed to strengthen governance effectiveness while taking into account member feedback and perspectives.

In addition, the Member Leadership Advisory Council got a sneak peek at the proposal at their first meeting in April 2026 and were able to offer their comments.

ASAs who do not become FSAs make up about a third of SOA membership, and ASAs with 10 or more years of membership represent 14% of total membership. These Associates bring valuable perspectives from across the profession, reflecting diverse career paths, practice areas, industries and leadership experiences. Some have built successful long-term careers in roles and sectors where the ASA is the highest credential needed or pursued, while others have chosen different professions or paths for a variety of reasons. Including ASAs who have been members for 10 years or more on the Board will better represent the diverse needs and perspectives of this large and growing membership segment, fostering a more inclusive and well-rounded governance structure.

As part of the 2025 Bylaw reforms, the Board proposed that ASAs with five or more years of membership (five-year ASAs) be eligible to serve on the Board.  This proposal did not pass.  Reviewing member comments, we found there were members passionately in favor of including five-year ASAs on the Board, and members who did not want five-year ASAs on the Board.   Several members who did not want five-year ASAs on the Board raised concerns about ASAs who were still taking FSA exams sitting on the Board.  They suggested that ASAs with 10 or more years of membership (10-year ASAs) might be more appropriate, as they’d be less likely to be taking FSA exams.

The survey in March 2026 confirmed that members were more comfortable with allowing 10-year ASAs to run for Board seats.  We would still limit the number of ASAs to serve on the Board to two. 

Yes. Of the 12-person Board, a minimum of 10 (83%) will be FSAs: the President-Elect, President, Immediate Past President, and seven general Board members.  There can only be up to two ASAs who have been members for 10 or more years.  

No. It is not required to have two ASAs on the Board, but there would be an opportunity for up to two to be part of the Board if members voted them in.

Separating the President and Chair roles recognizes that the each position requires different skills, experience and areas of focus. It allows the Board to align the strengths of its leaders with the distinct responsibilities of each role. Past Presidents and Chairs (who held both roles) report spending 600 to 800 hours per year in the combined role, making it a significant time commitment, particularly for someone who is also actively working. Separating the roles supports more effective leadership and decision-making, enables selection of the individuals best suited for each role, creates additional leadership opportunities for members, and results in a more manageable time commitment for each role.

The President of the Board is the public representative of the SOA and will attend a variety of global and profession-wide events. Additionally, the President is a voting member of the Board of Directors. 

The Board Chair is the governance leader of the organization.  The Chair sets the Board agenda and leads and facilitates the Board meetings. The Chair helps lead strategy development and works with the SOA CEO to ensure smooth operations and corporate compliance. The Chair does not have independent authority to change SOA policy or operations.

The primary role of the Chair is to lead the Board. Therefore, Board members are in the best position to identify individuals who excel at facilitating discussions, presenting alternative points of view, and guiding the group toward effective decisions. This approach aligns with leading governance practices.

Only an FSA is eligible to serve as President.

Any Board member who is not in a Presidential role is eligible to serve as Chair.

The 2026-27 President Elect will serve as President Elect and Vice Chair during 2026-27, and President and Chair during 2027-28. If this Bylaws amendment is passed, they will be the last person to serve in the combined roles of President and Chair.

During 2027-28, the membership will elect a candidate to serve as President Elect in 2027-28, and President in 2028-29. The Board will elect the chair from among the non-Presidential Board members for its 2028-29 term. 

The Governance Review Task Force chose 12 members for several reasons. First, there is a need to maintain a three-year term for the President, so there will always be three presidential officers on the Board (President Elect, President, and Past President). Second, this structure allows for the inclusion of ASAs who have been members for 10 years or more. Third, a majority of the Board should consist of regular Board members (and not presidential officers or the Board Chair). To keep everyone on three-year terms, having 12 members strikes a balance between the desire for a smaller Board and the need to bring in diverse perspectives. There could be a fluctuation of 10-13 as the exact number in any given year would depend on strategic needs and availability of qualified candidates to fill designated seats.

When we surveyed members in 2026, we tested member preferences for Board size; members preferred a 12-person Board over the other options presented (a 9-, 12-, 15- or 18-person Board). 

No. Board diversity depends more on more on the strength of the candidate recruitment, assessment and selection processes than on the number of Board seats. Diversity can be achieved in many ways, and a larger Board does not ensure it. For example, the current Board does not fully reflect the diversity of our membership. There are also no ASAs who have been members for 10 years or more on the Board, but career ASAs make up about a third of our membership while ASAs of 10 years or more represent 14%. Strengthening candidate recruitment, broadening outreach, improving candidate assessment, and providing members with better information about candidates and needs of the Board are expected to have a greater impact on Board diversity than maintaining a larger Board.

No. ASAs who have been members for 10 years or more do not have the authority to vote on the Bylaws amendments at this time. ASAs who have been members for five years or more are able to vote in the Board elections, but not for SOA Bylaws amendments. If the proposed amendment enabling ASAs who are members for 10 years or more to run for a Board member position passes, then 10-year ASAs will be able to vote on SOA Bylaws amendments in the future.

All Board members elected in 2026, including the President Elect, will complete their full terms.

There will be several phases of implementation:

• September 2–21, 2026: FSAs will vote on Bylaws changes during the SOA Board Election period.

• The reduction in Board size would be phased in over time, ensuring stability and continuity.
  • 16 directors on the Board in the 2027-2028 Board year
  • 14 directors in the 2028-2029 year
  • 12 directors starting in the 2029-2030 year and thereafter
• 2027 election: ASAs with at least 10 years of membership will become eligible to serve on the Board and vote on SOA Bylaws amendments. Board membership will be limited to no more than two ASAs at any time.
• 2027 election: Members elect the 2027-28 President Elect who will serve as President in 2028-29.  The 2027-28 Chair will be the President and Chair elected in 2026; the first chair the Board will elect itself will be the 2028-29 Chair. 

FSAs will vote on each of the three proposed changes individually, not as a package.

To be approved, each Bylaws change requires an affirmative vote from two-thirds of the Fellows who voted on it or at least 10% of all SOA Fellows, whichever is greater. For example, as of July 2026, there were about 21,400 FSAs. Therefore, in order for the SOA Bylaws amendment to pass, an affirmative vote is needed from two-thirds of the Fellows who voted, or 10% of all Fellows, which is about 2,140.

SOA Board elections will continue to be competitive, and the voting process will remain largely the same. Eligible members can still self-nominate, and the petition process will also continue to be an option for those nominees not selected for the endorsed ballot. All FSAs and ASAs who have been members for 5+ years will continue to be eligible to vote in Board elections.