The ERISA Advisory Council Appears to Be Out of Commission

According to a report in Plan Sponsor, the ERISA Advisory Council did not meet in 2025 and has no plans to meet in 2026. The 15-member council is mandated by Section 512 of the Employee Retirement Income Security Act of 1974 (ERISA). The council makes recommendations on ERISA issues to the Secretary of Labor. The council is appointed by the Secretary, with three members representing employee organizations, three from employers, three from the general public, and one each from various professional fields. The council is supposed to hold at least four meetings per year. Mark DeBofsky, a member of the council until the end of 2025, reports that there were no emails, notices, or other communications from the DOL to the council, and that inquiries went unanswered.

In 2025, Bill Cassidy (R-LA) introduced the Employee Ownership Representation Act (PDF), which would add two new ESOP company board members to the council. In June, the Senate HELP committee passed the bill unanimously. Over its existence, the council has made a number of recommendations for improving procedures under ERISA, although none specifically on ESOPs.

The Department has not provided any explanation for why the council appears to be defunct.