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Season 1, Episode 2: The Honorable Phyllis C. Borzi
Following her unanimous confirmation by the U.S.
Senate, the Honorable Phyllis C. Borzi served as the Assistant U.S. Secretary of Labor of the Employee Benefits Security Administration (EBSA) during the
Obama Administration from 2009 until 2017, overseeing approximately 700,000 private-sector retirement plans, approximately 2.3 million group health plans, and a similar number of other welfare benefit plans that provide benefits to approximately 150 million Americans. As agency head, Assistant Secretary Borzi oversaw the administration, regulation and enforcement of Title I of ERISA.
Among her other duties as Assistant Secretary of Labor, she represented the Department of Labor in overseeing
implementation of the Affordable Care Act (ACA) insurance market reforms and other ACA rules affecting employer-sponsored group health plans, and she was
instrumental in the development of various pension regulations, including the Department’s rule requiring individuals providing financial advice to plan sponsors and retirement investors to act as ERISA fiduciaries.
Ms. Borzi also represented the Secretary of Labor in the Secretary’s role as statutory trustee for the Social Security (OASDI) and Medicare Trust Funds and in the Secretary’s capacity as chair of the Board of the Pension Benefit Guaranty Corporation (PBGC) and was the head of the U.S. delegation to the Organisation for Economic Co-operation and Development (OECD) Working Party on Private Pensions and Insurance.
From 1995-2009, Ms. Borzi was a research professor in the Department of Health Policy at George Washington University Medical Center's School of Public Health and Health Services. In addition, she was Of Counsel with the Washington, D.C., law firm of O'Donoghue & O'Donoghue LLP during that time. From 1979 to 1995, Ms. Borzi served as Pension and Employee Benefit Counsel for the
U.S. House of Representatives, Subcommittee on Labor-Management Relations of the Committee on Education and Labor. She is the author of numerous articles and a
frequent speaker on employee benefit issues to audiences both in the U.S. and globally.
Ms. Borzi currently is an independent consultant and serves on the Board of Visitors of the Columbus School of Law at Catholic University, the Board of Edelman Financial Engines, LP, the Board of the Institute for
Fiduciary Standard, the Board of Directors of FAIR Health, the Board of the Maryland Small Business Retirement Savings Trust (Maryland$aves), and the Advisory Board of the Georgetown University’s McCourt School of Public Policy’s Center for Retirement Initiatives. In addition, Ms. Borzi currently serves as a fiduciary representing Retiree Class Members on the Committee of the Goodyear
Retirees Health Care Trust. She was previously appointed by the Federal district court in Ohio as an Independent Public Member on the Committee from its inception until 2009.
She received her law degree from the Columbus School of Law at The Catholic University of America where she was the Editor-in-Chief of the Law Review and is an active member of the American Bar Association, including
service as former Chair of the Joint Committee on Employee Benefits. Ms. Borzi is a Charter Fellow and former Chair of the American College of Employee Benefits Counsel.
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By Nevin Adams
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Following her unanimous confirmation by the U.S.
Senate, the Honorable Phyllis C. Borzi served as the Assistant U.S. Secretary of Labor of the Employee Benefits Security Administration (EBSA) during the
Obama Administration from 2009 until 2017, overseeing approximately 700,000 private-sector retirement plans, approximately 2.3 million group health plans, and a similar number of other welfare benefit plans that provide benefits to approximately 150 million Americans. As agency head, Assistant Secretary Borzi oversaw the administration, regulation and enforcement of Title I of ERISA.
Among her other duties as Assistant Secretary of Labor, she represented the Department of Labor in overseeing
implementation of the Affordable Care Act (ACA) insurance market reforms and other ACA rules affecting employer-sponsored group health plans, and she was
instrumental in the development of various pension regulations, including the Department’s rule requiring individuals providing financial advice to plan sponsors and retirement investors to act as ERISA fiduciaries.
Ms. Borzi also represented the Secretary of Labor in the Secretary’s role as statutory trustee for the Social Security (OASDI) and Medicare Trust Funds and in the Secretary’s capacity as chair of the Board of the Pension Benefit Guaranty Corporation (PBGC) and was the head of the U.S. delegation to the Organisation for Economic Co-operation and Development (OECD) Working Party on Private Pensions and Insurance.
From 1995-2009, Ms. Borzi was a research professor in the Department of Health Policy at George Washington University Medical Center's School of Public Health and Health Services. In addition, she was Of Counsel with the Washington, D.C., law firm of O'Donoghue & O'Donoghue LLP during that time. From 1979 to 1995, Ms. Borzi served as Pension and Employee Benefit Counsel for the
U.S. House of Representatives, Subcommittee on Labor-Management Relations of the Committee on Education and Labor. She is the author of numerous articles and a
frequent speaker on employee benefit issues to audiences both in the U.S. and globally.
Ms. Borzi currently is an independent consultant and serves on the Board of Visitors of the Columbus School of Law at Catholic University, the Board of Edelman Financial Engines, LP, the Board of the Institute for
Fiduciary Standard, the Board of Directors of FAIR Health, the Board of the Maryland Small Business Retirement Savings Trust (Maryland$aves), and the Advisory Board of the Georgetown University’s McCourt School of Public Policy’s Center for Retirement Initiatives. In addition, Ms. Borzi currently serves as a fiduciary representing Retiree Class Members on the Committee of the Goodyear
Retirees Health Care Trust. She was previously appointed by the Federal district court in Ohio as an Independent Public Member on the Committee from its inception until 2009.
She received her law degree from the Columbus School of Law at The Catholic University of America where she was the Editor-in-Chief of the Law Review and is an active member of the American Bar Association, including
service as former Chair of the Joint Committee on Employee Benefits. Ms. Borzi is a Charter Fellow and former Chair of the American College of Employee Benefits Counsel.