Michael F. Tomasek, a Partner in Freeborn's Corporate Practice Group, has been appointed to serve on the U.S. Department of Labor’s Advisory Council on Employee Welfare and Pension Benefit Plans (ERISA Advisory Council). Mr. Tomasek was sworn in on the morning of October 1, 2009. The duties of the Council are to advise the Secretary of Labor and submit recommendations regarding the Secretary’s functions under the Employee Retirement Income Security Act of 1974, commonly referred to as “ERISA.”
Mr. Tomasek, who will act as a representative of employers, fills a vacant position. Members are appointed for three-year terms, with five terms expiring on November 14 of each year; Mr. Tomasek’s term will end on November 14, 2011. “I hope to help strengthen and preserve the employer-based benefit system in a manner that furthers the interests of employers, including those related to global competitiveness and employee attraction and retention,” said Mr. Tomasek.
The Council consists of 15 members appointed by the Secretary of Labor. Three members are representatives of employers. Three represent employees and three act as representatives for the general public. Additionally, there is one member each from the fields of insurance, corporate trust, actuarial counseling, investment counseling, investment management and accounting.
Each year, after due consideration and debate, the council reaches a consensus to focus on issues important to the administration of ERISA, historically three to four issues each year. For each issue, the council defines the issue to investigate, takes testimony from witnesses and submits a report of findings and recommendations. During scheduled meetings, held in Washington, DC, the council hears testimony from experts on the issues, asks questions and discusses findings and recommendations. The council members study testimony and deliberations that took place on various issues during the council year. Near the end of the council term, the issue chairs present their findings and recommendations to the council at the final meeting of the year. The council discusses each report and accepts it by vote as presented or with modifications. The council then presents the findings and recommendations to the Secretary or the Secretary’s designated representative at the final meeting. The final act of the council term is when the council Chair, in a letter to the Secretary of Labor, transmits the reports.
“It is an honor to represent the employer community in matters as important as those that will appear before the council,” continued Mr. Tomasek. “And I am happy to have this opportunity to serve my country.”
