Monday, July 13, 2009
This past Friday, Phyllis Borzi was confirmed without debate by voice vote by the Senate to be the head of the Employee Benefits Security Administration (EBSA) at the Department of Labor. In that position, she will tackle the myriad of issues that face employers and participants in the area of pension benefit plans and welfare benefit plans.
If I had the ability to whisper in Phyllis' ear, I would ask here first to take on the inequitable state of ERISA law in the area of remedies. There are too many rights without remedies cases. Second, I would ask her to help clarify the scope of the 404(c) safe harbor for participant-directed 401(k) plans.
I'm not asking for much, am I?