College Columns May 2016 Issue | Page 3

From the Chair

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In addition, we plan to explore ideas to freshen and diversify the format of the educational programs at the Annual Meeting. We will be working with the Scholar in Residence to put those new ideas into motion.

Perhaps not surprisingly, the Finance area produced the largest number of recommendations for change. We are moving forward to expand our reduced dues categories to include government employees and employees of nonprofit enterprises. We also will be initiating an opportunity for Fellows to request a reduction in dues "for cause," with requests to be reviewed by the Chair and the President of the College.

We also will be amending the College bylaws to make adjustments in the criteria for qualification as an Emeritus Fellow. Currently, any Fellow may seek Emeritus status if he or she has reached the age of 75 or has ceased to engage in the active practice of their profession. The proposed amendment would provide that Emeritus status is available to those who meet two of the following three criteria: (i) 75 or more years of age, (ii) ceased active practice of such person’s profession, and (iii) have paid dues as a regular Fellow for 10 or more years. Also, Emeritus Fellows will now pay nominal dues at a reduced rate of $100 per year.

Further, we will be adjusting the fees for the Induction ceremony to encourage greater participation by the families of Inductees. Current procedures provide for the inductee and one guest to attend without cost, and set reduced rates for certain younger attendees. The principal proposed change will be to permit all additional members of the inductee’s immediate family to attend at a 50% rate, while still allowing for one free guest and reductions for younger attendees.

Finally, we will be exploring the cautious diversification of a portion of the College’s investments beyond the current practice of investing only in government insured obligations. The goal will be to obtain some increase in investment return, while continuing to employ a conservative investment policy.

On the International Fellows front, we will be pursuing ways to better engage our International Fellows, both in terms of supporting their participation at our annual meeting and also providing improved opportunities for meetings outside the United States. We also will be amending the Bylaws to provide for input on nominee selections by the International Nominating Committee to be obtained from those Fellows serving on the International Committee. This would provide a process similar to the input required by the Bylaws from Circuit Fellows on the recommendations of their Circuit Admissions Councils.

So, as you can see, the College is moving forward, evolving in response to your views as Fellows and to adapt its policies to better serve your interests. We all owe a debt of gratitude to the Strategic Planning Committee for its two-year effort to think constructively about improvements in our policies and practices. We remain eager to listen to any suggestions regarding how to make our wonderful College even more successful.

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