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 from:
- employee organizations;
- corporate trusts;
- investment management; and
- the public.
The deadline to submit nominations is Oct. 23, 2023.
About the Council
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 of Labor regarding functions carried out under ERISA. Among the current study topics the Council is considering are recordkeeping in the electronic age, pension risk transfers and Interpretive Bulletin 95-1, and addressing fiduciary standards under ERISA when selecting an annuity provider for a defined benefit plan.
The DOL says that nominations should:
- briefly describe the candidate’s qualifications to serve on the council and the position—group or field—for which the candidate is being nominated;
- state that the candidate will accept appointment to the council if offered; and
- 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.