|ARLINGTON, VA, May 21, 2019 -- Marcy Supovitz, former president of the American Retirement Association and founding president of the National Association of Plan Advisors, has been named to the ERISA Advisory Council.
The 15-member council provides advice to the United States Department on Labor on policies and regulations affecting employee benefit plans governed by the Employee Retirement Income Security Act of 1974 (ERISA). Supovitz, one of six new members named to the Council, is a principal with Boulay Donnelly & Supovitz Consulting Group, Inc. She has previously testified at the Labor Department's 2015 hearings on the proposed fiduciary regulation and was a driving force behind the creation of the National Association of Plan Advisors in 2011.
"The ERISA Advisory Council advises the Department's work in enhancing and preserving the health and retirement benefits of America's workers," said U.S. Secretary of Labor Alexander Acosta in announcing the appointments. "These professionals will help the council accomplish its goals. Their expertise will be a valuable complement to the Department's mission to protect workers' benefits."
By law, members of the ERISA Advisory Council serve for staggered three-year terms. Three members represent employee organizations, where at least one of which's members are participants in a multiemployer plan. Three members represent employers, where at least one of whom represents employers maintaining or contributing to multiemployer plans. Three members represent the general public. There is one representative each from the fields of insurance, corporate trust, actuarial counseling, investment management, accounting and investment counseling. Supovitz, with more than 35 years of experience in the employee benefits field, will represent the latter perspective.
"Throughout her career, Marcy has made significant contributions to the enhancement of our nation's retirement security," noted Brian H. Graff, CEO of the American Retirement Association. "Her counsel and experience will be an invaluable addition to the voice of the ERISA Advisory Council."