Schobel Versus American Academy of Actuaries Settles

The Academy published the settlement document on their website. From the transcript of the previous hearings, it was pretty obvious the judge would not reinstate Schobel as president of the Academy, however Hizzoner's repeated descriptions of the Academy Board's behavior as "disgusting" suggested a Schobel was likely to win his suit for damages.

The game is over and the final score is:

Schobel $600,000
Academy of Actuaries $0

And, what are actuaries going to talk about after this? Maybe pension actuaries can start thinking about their shameful derelictiton of duty in the area of public pensions.

That last paragraph, I must state, is not an actuarial opinion, and anyone who sais otherwise is itching for a fight. In all other respects. . .

That's my story and I'm sticking to it.