College of Pension Actuaries members voted more than 80% in favor of merging with the American Society of Pension Professionals & Actuaries, confirmed Mike Preston, COPA president, and Chris Robichaux, ASPPA director of media relations.
As a result of the vote, a new component will be formed within ASPPA, called the ASPPA College of Pension Actuaries. The new entity will have COPAs 250 members, who are actuaries, and ASPPAs 800 actuaries.
The transition will take place as soon as possible, said Mr. Preston, who will become president of ASPPA COPA.
COPA sought the merger to gain the administrative strength of ASPPA, which has 6,400 members, who are professionals involved in retirement plan services, Mr. Preston said in an interview. Aside from actuaries, ASPPA members include attorneys, accountants, insurance professionals, financial planners and human resource managers.