The Department of Labor’s Employee Benefits Security Administration is seeking nominations to fill five vacancies to serve three-year terms on the ERISA Advisory Council, known officially as the Advisory Council on Employee Welfare and Pension Benefit Plans.
Nominations are being accepted for one vacancy each in the fields of employee organizations, employers, the general public, corporate trust and investment management. The deadline to submit nominations is Oct. 23, 2023.
The 15-member council provides advice on policies and regulations affecting employee benefit plans governed by the Employee Retirement Income Security Act. The Secretary of Labor appoints council members to represent specified groups and fields involved in employee benefits.
Members serve staggered three-year terms. In addition, no more than eight members of the Council shall be members of the same political party.
The council meets at least four times a year and makes recommendations to the Secretary regarding functions carried out under ERISA. For example, current study topics under consideration by the Council include, among others, recordkeeping in the electronic age, and pension risk transfers and Interpretive Bulletin 95-1, addressing fiduciary standards under ERISA when selecting an annuity provider for a defined benefit plan, as required by Section 321 of the SECURE 2.0 Act.
Interested persons or organizations may nominate qualified individuals for membership. According to the DOL announcement, 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 should also include the full name, work affiliation, mailing address, phone number and email address of both the candidate and the nominator. 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.
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.
Additional information about how to submit a nomination can be found here.
