Employee Ownership Representation Act of 2025 in plain language
Section 1: Short title
This section would let the Act be cited as the "Employee Ownership Representation Act of 2025."
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1. Short title This Act may be cited as the Employee Ownership Representation Act of 2025 .
Section 2: Expansion of the ERISA Advisory Council
This section would amend section 512(a) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1142(a)), which sets up the Advisory Council on Employee Welfare and Pension Benefit Plans. It would raise the Council's total membership from 15 to 17 members. Within that same paragraph, it would also raise a separate, specifically counted group of members from eight to 10; the text does not say which category of Council members that count covers. It would also add a requirement, in paragraph (3) of that section, that two of the Council's members be representatives of employee ownership organizations. Separately, no later than 1 year after this Act becomes law, the Secretary of Labor would have to nominate the first 2 representatives of employee ownership organizations authorized to serve as members of the Council under section 512(a) as amended by this section.
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2. Expansion of the ERISA Advisory Council (a) In general Section 512(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1142(a) ) is amended— (1) in paragraph (1)— (A) by striking fifteen members and inserting 17 members ; and (B) by striking eight members and inserting 10 members ; and (2) in paragraph (3), by inserting two shall be representatives of employee ownership organizations; after pension plan; . (b) Effective date Not later than 1 year after the date of enactment of this Act, the Secretary of Labor shall nominate the first 2 representatives of employee ownership organizations authorized to serve as members of the Advisory Council on Employee Welfare and Pension Benefit Plans under section 512(a) of the Employee Retirement Income Security Act of 1974 (29 1142(a)), as amended by subsection (a).