Want to make an outsized impact on ERISA policy? Here’s your chance—but you better get on it quick!
The U.S. Department of Labor’s Employee Benefits Security Administration is seeking nominations to fill five, three-year vacancies on the Advisory Council on Employee Welfare and Pension Benefit Plans, known as the ERISA Advisory Council. Nominations must be submitted by Oct. 3, 2022.
The council provides advice on policies and regulations affecting employee benefit plans governed by the Employee Retirement Income Security Act of 1974. The Secretary of Labor appoints its 15 members, who serve staggered three-year terms and represent specified groups and fields related to employee benefits. The council meets at least four times a year, and makes recommendations to the Secretary regarding functions carried out under ERISA.
Nominations are being accepted for one vacancy each in the fields of employee organizations, employers, the general public, insurance, and accounting. Interested persons or organizations may nominate qualified individuals for consideration.
Nominations should briefly describe the candidate’s qualifications to serve on the council, the position (group or field) for which the candidate is being nominated and should state that the candidate will accept appointment to the council if offered. Nominations must be submitted by letter, resolution or petition and signed by the person or—in the case of a nomination by an organization—by the group’s representative making the recommendation. The full name, work affiliation, mailing address, phone number and email address of both the candidate and the nominator must be included.
Nominations should be submitted to Christine Donahue, Council Executive Secretary, as e-mail attachments to donahue.christine@dol.gov, or by mail to U.S. Department of Labor, 200 Constitution Ave., NW, Suite N-5700, Washington, DC 20210.
Attendance and participation in the council’s meetings and other work has historically resulted in a commitment of at least 20 days per year. Additional information about the ERISA Advisory Council and the appointment process can be found on the council web page.
Back in April, the DOL appointed seven new members to the ERISA Advisory Council:
- Beth Halberstadt, senior partner and U.S. defined contribution investment solutions leader for Aon Investments USA.
- Marcelle J. Henry, a partner and the chairwoman of the ERISA/employee benefits group at Pitta.
- Jeffrey Lewis, a partner at Keller Rohrback.
- Tonya Manning, U.S. wealth practice leader and chief actuary for Buck Global.
- Shaun C. O’Brien, policy director for the American Federation of State, County and Municipal Employees.
- Alice Palmer, vice president and chief counsel for retirement plan service at Lincoln Financial Group.
- Holly Verdeyen, a partner at Mercer.
At that time it was also announced that Peter Wiedenbeck, the Joseph H. Zumbalen professor of the law of property at Washington University School of Law, would serve as chairman of the council in 2022. Megan Broderick, senior director for global retirement and financial well-being at PepsiCo., is vice chairwoman.
“The perspective of stakeholders in the employee benefits’ field greatly improves the Department of Labor’s work,” Ali Khawar, acting assistant secretary of the Labor Department’s Employee Benefits Security Administration, said in a statement back in April. “The expertise possessed by the members of the ERISA Advisory Council is an invaluable resource. We are grateful that they are willing to share their time and talent.”
Earlier this month, Senator Patty Murray (D-WA) recognized the 48th anniversary of ERISA while calling for the Senate to finally confirm Lisa Gomez as the head of the EBSA—something that still hasn’t happened since the Senate failed to confirm Gomez in a 49-51 vote back on June 8.
Khawar has been acting assistant secretary since March 2021.
SEE ALSO:
• Senator Marks ERISA Anniversary, Calls for Gomez Confirmation
• DOL’s Proposed ESG Rule ‘A Backdoor Rewrite of ERISA’: WSJ
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
