Schwartz appointed to labor advisory council
Edward Schwartz, president of Bloomfield Township's Schwartz & Co. investment firm, was appointed to the U.S. Department of Labor's ERISA Advisory Council for a three-year term by outgoing Secretary of Labor Eugene Scalia.
Of five appointees, Schwartz is the only one from the midwest. As part of the council, Schwartz will advise on policies affecting the country’s 401(k), pension and other retirement programs. His appointment to the ERISA Advisory Council runs through December 2023.
Schwartz has over 30 years of experience in the investment field, and for the past two decades he has served as president of Schwartz & Co., an investment advisory firm that specializes in institutional retirement plans, wealth management for individuals and families, and investment banking services with clients in all 50 states.
The ERISA Advisory Council advises the Labor Secretary and the Department of Labor regarding regulation and oversight of the country's 401(k), pension, and other institutional retirement plans. Schwartz was selected by Scalia to be the investment management industry's sole representative on the council. Scalia is the son of the late U.S. Supreme Court Justice, Antonin Scalia. Schwartz was nominated for this position by former U.S. Secretary of Labor Elaine Chao and two prior chiefs of the Employee Benefits Security Administration (ERISA), he said.
In this role, Schwartz will provide independent insights and expert advice on issues relating to ERISA retirement plans to inform recommendations to the Department of Labor.
“I am honored to explore improvements in concert with the Department of Labor for the financial wellness of all American workers. I am grateful to Secretary Scalia and the Department of Labor for their confidence in me to contribute,” Schwartz said.
This will be Schwartz' second time on the council; in 2006, Schwartz was appointed by then Labor Secretary Chao to serve on the council through 2008.
Schwartz resides in Bloomfield Hills with his wife and three children.