In a 52-47 vote, the U.S. Senate confirmed Daniel Aronowitz as assistant secretary to oversee DOL's Employee Benefits Security Administration ("EBSA") on Thursday.  Since 1974, EBSA has been responsible for administering and enforcing the fiduciary, reporting, and disclosure provisions of ERISA Title I.  During his June 5th confirmation hearing, Aronowitz pledged to lead a major turnaround at EBSA by drawing on decades of experience as a lawyer and founder of a fiduciary liability underwriting company.  Arowonitz pledged to lead what he describes as a much-needed “major turnaround” at EBSA — outlining three main goals if confirmed:  (1) improving EBSA's enforcement of fiduciary law; (2) providing regulatory clarity; and (3) “expanding retirement and health care benefits to America’s workers.”

Aronowitz pledged to eliminate ERISA litigation abuse and provide regulatory clarity on mental health parity, pension risk transfers, the consideration of ESG-factors, and tobacco and vaccine surcharges and wellness programs.