|
|
|
|
|
Release Date: May 17, 1999
Release
Number: USDL 99-21
Contact Name: Sharon Morrissey
Phone
Number: (202) 219-8921 |
|
|
|
The Secretary of Labor’s Advisory Committee on Employee
Welfare and Pension Benefit Plans will hold meetings for its three working
groups and its 106th full advisory council meeting on June 8 and 9. All
sessions will be held at the Department of Labor’s Frances Perkins
Building at 200 Constitution Avenue NW, Washington, DC, in Room
N3437A-B. |
|
The working group studying benefit implications of the growth of a
contingent workforce will take testimony on the legal framework of the topic at
its session on June 8 from 9:30 a.m. until approximately noon. |
|
From 1:00 p.m. until approximately 3:30 p.m. on June 8, the second
working group will meet to continue exploring the possibility of using surplus
pension assets to secure retiree health benefits. Its focus for the day will be
an exploration of the current accessibility of surplus assets in defined
benefit plans with an emphasis on Internal Revenue Code 420 provisions and the
historic use of this provision. In addition, other approaches used by employers
to benefit from the existence of surplus assets will be discussed. |
|
The third working group, studying issues trends in the defined
benefit market with a focus on employer-sponsored hybrid plans, will meet June
9 from 9:30 a.m. until approximately noon on June 9. The topic for the
day will relate to transition and employee disclosures when a traditional
defined benefit plan is converted to a cash balance plan as well as a review of
the group’s progress, strategy and future plans. |
|
The entire Advisory Council will convene at 1:00 p.m. on June 9 to
hear from all three working groups on their progress for this year. Members
also will be updated on activities in the Pension and Welfare Benefits
Administration by Assistant Secretary Richard McGahey. |
|
Persons wishing to appear before any of the working groups or to
submit written testimony on any of the three topics for 1999 may do so by
contacting Sharon Morrissey, executive secretary of the Advisory Council, at
Room N5656, Department of Labor, 200 Constitution Avenue NW, Washington, DC
20210. Her direct telephone number is (202)219- 8921. If written testimony is
to be provided, submit 20 copies to Ms. Morrissey before June 1. |
|
Persons with disabilities wishing to attend the sessions and
needing special accommodations, can also contact Ms. Morrissey by June
1. |
|
The ERISA Advisory Council advises the Secretary of Labor on
policies pertaining to the Employee Retirement Income Security Act (ERISA) and
other related legislation affecting employee benefit programs provided by
private sector employers. Each year the Advisory Council’s 15 members
select topics of study and volunteer to serve on at least two of the Advisory
Council’s working groups. Their studies will result in reports and/or
recommendations to be completed by the end of the Advisory Council year on Nov.
14. |
|
This information will be made available to sensory impaired
individuals upon request. Voice phone call (202) 219-8921. |
|
|
|
|
| |
|
U.S. Department of
Labor news releases are accessible on the Internet. The information in this
news release will be made available in alternate format upon request (large
print, Braille, audio tape or disc) from the Central Office for Assistive
Services and Technology. Please specify which news release when placing your
request. Call 202.693.7773 or TTY 202.693.7775. |
|
|
