After due consideration and debate, the council reaches a consensus to focus on issues important to the administration of ERISA, historically three to four issues each year. The Office of the Assistant Secretary of the Employee Benefits Security Administration may suggest issues to the council to be studied during the year. For each issue, the council defines the issue to investigate, takes testimony from witnesses, and submits a report of findings and recommendations. The council chair selects a chair and vice chair to lead the council’s work on each issue.
During scheduled meetings, the council hears testimony from experts on the issues, asks questions, and discusses findings and recommendations. A wide variety of witnesses are identified with a view to inviting them to testify before the council. During a typical meeting, the chair or vice chair calls the meeting to order and states the purpose of the meeting. If work assignments have been given to members, the chair invites a report. If witnesses have been invited to testify, they are called forward and requested to speak, limiting their testimony to 20 minutes. Witnesses usually submit written testimony, which is distributed to the members and the public and made part of the official record of the meeting. Members ask questions of each witness. When no further questions are forthcoming, the chair thanks and excuses the witness. The process continues until all witnesses scheduled for the meeting have been heard.
The issue chair invites members to discuss events of the meeting, encouraging them to express their views and concerns. Upon completion of discussion, the chair will invite statements from the general public. After statements from the general public and any discussion, the chair will ask for a motion to adjourn.
The council members study testimony and deliberations that took place on various issues during the council year. The council chair and issue chairs may designate members of a subcommittee who draft reports to present to the council for its consideration. These reports include summaries of witness testimonies, findings, and recommendations. The council’s decisions are made at scheduled meetings open to the general public.
The issue chairs present their findings and recommendations to the council at the final meeting of the year. The council discusses each report and accepts it by vote as presented or with modifications. The council then presents the findings and recommendations to the Secretary or the Secretary’s designated representative at the final meeting.
The final act of the council term is when the council Chair, in a letter to the Secretary of Labor, transmits the reports.