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Section 512 of ERISA provides for the establishment
of an Advisory Council on Employee Welfare and Pension Benefit Plans.
The council consists of 15 members appointed by the Secretary of Labor.
Three representatives of employee organizations (at least one of whom
represents an organization whose members are participants in a
multiemployer plan). Three representatives of employers (at least
one of whom represents employers maintaining or contributing to
multiemployer plans). One representative each from the fields of
insurance, corporate trust, actuarial counseling, investment counseling,
investment management, and accounting.
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And three representatives
of the general public (one of whom represents those receiving benefits
from a pension plan). Members must be qualified to appraise the programs
instituted under ERISA. Members are appointed for three-year
terms, with five terms expiring on November 14 of each year. The
duties of the council are to advise the Secretary and submit
recommendations regarding the Secretary's functions under ERISA. The
council customarily holds four meetings each year which are open to the
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Vacancies for the council are announced each year in
the Federal Register. Notice is given that any person or organization
desiring to recommend one of more individuals for appointment to the
council may submit recommendations to the attention of the council's
executive secretary. Recommendations must be submitted on or before a
specified time and date.
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Recommendations may be in the form of a letter,
resolution or petition, signed by the person making the recommendations,
or in the case of a recommendation by an organization, by an authorized
representative of the organization. Each recommendation should identify
the candidate by name, occupation or position, telephone number and
address, a brief description of the candidate's qualifications, and the
group or field which he or she would represent. For the purposes of
ERISA section 512, the candidate's political party affiliation must be
noted, as section 512 requires that no more than eight council members
may be of the same political party. The recommendation must also state
whether the candidate is available and would accept appointment to the
council.
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Letters received in nominating or recommending
candidates for a position on the council are evaluated for completeness
and qualification of the candidate. Nominating letters are acknowledged
and nominees are requested to complete a form declaring their political
affiliation according to Section 512 of ERISA. Letters of support for
candidates are welcome and are also acknowledged. This process continues
until the close of business of the termination date previously announced
in the Federal Register for receiving nominations.
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Once the nomination process is completed, the
Assistant Secretary of the Employee Benefits Security Administration
reviews the nominations and submits recommendations to the Secretary.
The Secretary then appoints the five new members.
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In addition, the chair and vice chair of the full
council and working groups are selected by the Secretary based upon the
advice and recommendation of the Assistant Secretary.
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The Executive Secretary position for the Advisory
Council is established by Section 512 of ERISA. The Executive Secretary
provides staff support to the Office of the Assistant Secretary of
Labor, Employee Benefits Security Administration, regarding Advisory
Council activities; schedules, coordinates and provides administrative
support to all Advisory Council and Working Group meetings; plans and
coordinates the selection process for new members of the Advisory
Council; prepares reports regarding the Advisory Council's activities;
and establishes and maintains the archives of the Advisory Council.
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After due consideration and debate, the council forms
a number of working groups to focus on issues important to the
administration of ERISA. The Office of the Assistant Secretary of the
Employee Benefits Security Administration may also suggest issues to
the council to be studied during the year. Historically, three or four
working groups are formed by the council each year.
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During a regularly scheduled meeting of the council,
the council receives working groups' progress reports, discusses their
findings, poses questions and makes recommendations to the working
groups. The council is the body responsible for final decisions made
with regard to all working group reports. These decisions are made by
the council at scheduled meetings open to the general public.
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The purpose of the working groups is to identify and
define subject issues, to investigate, to take testimony from witnesses,
and to submit a final or interim report of findings and recommendations
to the council for approval.
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The first meeting of the working groups is
organizational in nature. A wide variety of witnesses are identified
with a view to inviting them to testify before the working group. The
approach and strategy designed to study the relevant issue is reported
to the council for advise and consent. During the course of the council
term, all working groups report their progress to the council. The
council may offer input and guidance. Joint consultation among working
group members and the chairs between meetings is encouraged.
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During a typical working group meeting, the chair or
vice chair calls the meeting to order, welcomes the general public,
introduces members of the working group, and states the purpose of the
meeting. If work assignments have been given to members of the working
group, the chair invites a report. If witnesses have been invited to
testify, they are called forward and requested to speak, limiting their
testimony to 10 minutes. Witnesses often will submit written testimony
which is distributed to the working group and made part of the official
record of the meeting. Members of the working group are invited to pose
questions to each witness. When no further questions are forthcoming,
the chair thanks and excuses the witness. The process continues until
all witnesses scheduled for the meeting have been heard.
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The chair will invite members of the working group to
discuss events of the meeting, encouraging them to express their views
and concerns. Upon completion of discussion, the chair will invite
statements from the general public. Upon completion of statements from
the general public and any discussion, the chair will ask for a motion
to adjourn.
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The working group studies testimony and deliberations
that took place on various issues during the council year. Meetings of
the working groups and reporting to the council of progress made
continues until early November of each year. Near the end of the council
term, members of the working group may be requested to summarize witness
testimonies and deliberations of the group in preparation of a final
report of findings and recommendations to the council.
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Between meetings, informal joint consultation takes
place among members and the chairs. Members may be called upon to review
materials submitted by witnesses, prepare summaries of witness
testimonies, research and prepare documents for an upcoming meeting, or
seek additional witnesses for appearance at working group meetings.
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November 14 signals the end of the council term. The
working groups present their final or preliminary findings and
recommendations to the full council at the final meeting of the year.
The council discusses each working group report, accepts by vote as
presented or with modifications.
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The final act the council term is when the council
Chair, in a letter to the Secretary of Labor, transmits the working
groups' reports as accepted by the council.
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David L. Wray (11/01-04)
President, Profit Sharing/401(k) Council of America, Chicago,
Illinois, representing Employers, Advisory Council Chair
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R. Todd Gardenhire (11/02-05)
Senior Vice President, Investments, Smith Barney, Chattanooga,
Tennessee, representing the Investment Management Profession,
Advisory Council Vice Chair
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Dana Muir (11/01-04) Associate
Professor of Business Law, University of Michigan Business School,
Ann Arbor, Michigan, representing the General Public
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John J. Szczur (11/01-04) Director
of Investments, Central Pension Fund, International Union of
Operating Engineers and Participating Employers, Washington, DC,
representing Employee Organizations (Multiemployer Plans)
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Judy Weiss (11/01-04) Executive
Vice President, Retirement and Savings, Metropolitan Life Insurance,
New York, New York, representing the Insurance Profession
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Michele M. Weldon (11/01-04)
Director, Employee Benefit Plan Audit Services, Pricewaterhouse
Coopers, LLP, Boston, Massachusetts, representing the Accounting
Profession
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C. Mark Bongard (11/02-05)
Benefits Attorney, Senior Counsel II, Ashland, Inc., Lexington,
Kentucky, representing Employers
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Mary B. Maguire (11/02-05)
Consultant, Davis Consulting, New York, New York,
representing the Corporate Trust Profession
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Thomas C. Nyhan (11/02-05)
Executive Director and General Counsel, Central States Southeast and
Southwest Health and Welfare and Pension Department, Rosemont,
Illinois, representing Employee Organizations
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Antoinette Pilzner (11/02-05),
Supervisory Attorney, Butzel Long, Ann Arbor, Michigan,
representing the General Public
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Charles J. Clark (11/04-06) Senior Vice
President, Aon Consulting, Somerset, New Jersey, representing the
Actuarial Counseling Profession
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Lynn L. Franzoi (11/04-06) Senior
Vice President of Benefits, Fox Entertainment Group, Inc., Los
Angeles, California, representing Employer Organizations
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Neil Gladstein (11/04-06)
Assistant Director, Strategic Resources Department, International
Association of Machinists & Aerospace Workers, Upper Marlboro,
Maryland, representing Employee Organizations
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Sherrie E. Grabot (11/04-06)
President and CEO, GuidedChoice, Inc., Los Gatos, California,
representing the Investment Counseling Profession
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Tim Knopp (11/04-06) Executive
Vice President, Central Oregon Builders Association, Bend, Oregon,
representing the General Public
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