The purpose of the meeting is for council members to hear testimony from invited witnesses and to receive an update from Assistant Secretary of Labor for Employee Benefits Security Phyllis C. Borzi. The council is studying the following topics:
1. Issues and considerations around facilitating lifetime plan participation;
2. Outsourcing employee benefit plan services; and
3. Compensation and fee disclosure for pharmacy benefits managers.
Descriptions of these topics are available on the advisory council page of the EBSA website at http://www.dol.gov/ebsa/aboutebsa/erisa_advisory_council.html.
The meeting is open to the public. Organizations or members of the public who wish to address the council or submit a written statement should email their requests by Tuesday, June 10, to the council’s executive secretary Larry Good at email@example.com or call 202-693-8668. Media inquiries should be directed to the contacts listed above. See the Federal Register notice for full details: https://federalregister.gov/a/2014-11284.
Section 512 of the Employee Retirement Income Security Act provides for the establishment of the ERISA Advisory Council, which advises the secretary of labor and submits recommendations regarding the secretary’s functions under ERISA.