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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 219-8921
Secretary of Labor Alexis M. Herman today appointed seven new members
to the Advisory Council on Employee Welfare and Pension Benefit Plans to
represent various sectors of the employee benefit industry.
The 15-member council makes policy recommendations on the implementation
of the Employee Retirement Income Security Act (ERISA). By law, its members are
appointed to 3-year terms with one-third of the members rotating off the
council each year. In 1998, in order for the council to operate with its full
composition, the remaining term of two members were filled with new appointees.
Named to 3-year terms on the council are:
- Judith Calder of Glencoe, Ill.
- Richard Tani of Mount Prospect, Ill.
- Michael Gulotta of Annandale, N.J.
- Eddie C. Brown of Glen Arm, Md.
- Rose Mary Abelson of Hermosa Beach, Cal.
The Secretary also named Janie Greenwood-Harris of St. Louis, Mo., and
Judith Mazo of Washington, D.C., to fill unexpired terms caused by the recent
resignation of council member Richard McGahey and the death of member Vivian
Hobbs. McGahey is awaiting confirmation as the department's assistant secretary
for policy.
Judith Calder, who will represent employee organizations, is the founder
and chief executive officer of Abacus Financial Group a woman- and
minority-owned firm specializing in fixed-income asset management for public
and private pension, endowment and Taft-Hartley plans. She has spent nearly two
decades in investment management and banking with Wall Street firms and
regional institutions, including Lehman Brothers and First Chicago Corp.
Immediately before starting Abacus, she was vice president and manager of
national markets for Harris Trust's bond department in Chicago. Calder has been
a member of the University of Illinois board of trustees since 1992, is
currently chairman of its finance and audit committees and is a trustee of the
university's $6 billion retirement system.
Richard Tani, representing the general public, has been a retirement
consultant with William M. Mercer, Inc., since 1972 and has worked with clients
on retirement planning and plan designs. He is a fellow in the Society of
Actuaries and the Conference of Consulting Actuaries and has held positions in
mathematics at Beloit and Elmhurst Colleges before joining Mercer.
Filling the council's actuarial position is Michael J. Gulotta, the
president and chief executive officer of the New Jersey-based employee benefits
consulting firm of Actuarial Sciences Associates. He has a multi-faceted
perspective in all aspects of employer-provided benefits with his experience as
an actuary and consultant who designed corporate plans. Gulotta also
participated in sensitive negotiations with major communication unions and
provided consulting services for a diverse client group. He is a member of the
Financial Executives Institute and chairs the group's employee benefits
committee, leading the institute in developing and advocating policy on pension
security and expansion of health care coverage.
Gulotta is a member of the board of directors of Queens College Center
for the New American Workforce. As chief actuary of AT&T, he was
responsible for the actuarial allocation of $54 billion of the former Bell
Systems pension plans. He is a fellow in the Society of Actuaries, member of
the American Academy of Actuaries and the Conference of Actuaries in Public
Practice. He also serves on the board of the Association of Private Pension and
Welfare Plans and on various committees of the ERISA Industry Committee.
Rose Mary Abelson, assistant treasurer and director of investments and
trust management for Northrup Grumman Corp., will represent employer
organizations on the council. With over 30 years of experience in the employee
benefit field, she oversees investments for Grumman's $17 billion pension fund
one of the top 25 largest funds in the country. Until 1996, Abelson headed
pension, savings and welfare plan administration for all of the company. Prior
to her positions with Grumman, she was manager of defined contribution plans
with Beatrice Companies of Chicago and assistant treasurer of Coca Cola
Bottling Company of Los Angeles.
Completing the unexpired terms of a departing member is Eddie C. Brown.
Brown will represent the investment counseling field. As founder and president
of Baltimore-based Brown Capital Management, he has more than 27 years of
investment experience and previously was vice president and portfolio manager
of T. Rowe Price Associates. For the past 17 years, Brown has been a regular
panelist on the nationally televised public broadcasting program, Wall Street
Week, and was inducted into the show's 1996 Hall of Fame. A recent news story
noted that assets under management by Brown's company jumped almost 30 percent
in 1997 alone to $3.2 billion. His company manages the assets of such clients
as Texaco, Inc., the Oregon and Maryland public retirement systems and the City
of Philadelphia's board of pensions. Brown formed the Eddie C. and C. Sylvia
Brown Family Foundation to help African-American children in Baltimore and
serves on several community boards, including chairmanship of the Baltimore
Community Foundation's $60 million endowment.
Also joining the council to fill two unexpired terms are Janie
Greenwood-Harris and Judith Mazo. Greenwood-Harris, a senior attorney for
Mercantile Bancorporation in St. Louis since 1989, administers employee benefit
trusts and other benefit accounts. She will fill one of the three employer
posts on the council. Prior to her current position, she was with Citizens and
Southern Bank of Columbia, S. C. (now NationsBank) and First American Trust
Company of Nashville, Tenn. She was a trial attorney for the Labor Department
in Nashville and handled litigation involving violations of various labor laws
including Fair Labor Standards Act and the Age Discrimination in Employment
Act. She serves on the Metropolitan St. Louis YWCA board of directors, is
involved in several committees of the national YWCA and committees of the
United Way of Greater St. Louis and Catholic Charities of St. Louis.
Judith F. Mazo, senior vice president and director of research for the
Segal Company, will fill the position of employee organizations representing
multiemployer plans. In her position with the Segal Company she is responsible
for directing research on public policy, legislative and regulatory issues and
matters of interest to clients in the actuarial, benefits and compensation
areas. Before joining Segal, Mazo served in a private law practice in
Washington, specializing in ERISA and served as special counsel as well as
senior attorney and executive assistant to the general counsel at the Pension
Benefit Guaranty Corporation. She also was a consultant to the pension task
force of the House of Representatives' Committee on Education and Labor.
Mazo is a frequent speaker and writer on employee benefit matters, a
member of the Pension Research Council of the Wharton School and a member of
the editorial advisory boards of BNA Pension Reporter and the Benefits Law
Review. She is active in the American Bar Association, serving as chair of its
task force on PBGC legislation relating to the tax section of the employee
benefits committee, co-chair of the employee benefits committee of the labor
law section and a council member of the real property, probate and trust
section. For many years, she also has been an active member of the National
Coordinating Committee for Multi-employer Plans.
Archived News Release--Caution:
information may be out of date.
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