Elaine L. Chao, secretary of labor, named five new members to the Advisory Council on Employee Welfare and Pension Plans: David L. Wray, president of the Profit Sharing/401(k) Council of America; John Szczur, director of investments for the $6.8 billion Central Pension Fund of the International Union of Operating Engineers, Washington; Michele Weldon, director, financial services industry practice group of PricewaterhouseCoopers; Judy Weiss, vice president of retirement and savings business for Metropolitan Life Insurance; and Dana Muir, associate professor of business law at the University of Michigan Business School.
Shlomo Benartzi, finance professor at the University of California at Los Angeles, recently stepped down from the council because of health concerns. A vacancy announcement for the investment-counseling field will be printed in the Federal Register soon.
The council consists of 15 members appointed by the secretary of labor, serving staggered three-year terms. ERISA requires the members to represent various constituencies with interests in ERISA plans.