The American Worker Retirement Plan Advisory Council

(a) Establishment The Board shall establish an American Worker Retirement Plan Advisory Council. The Council shall be composed of 7 members appointed by the Chair of the Board in accordance with subsection (b). (b) Appointment The Chair shall appoint 7 members of the Council, of whom— (1) 3 shall be appointed who have experience managing investment funds; (2) 2 shall be appointed who have experience operating small businesses; and (3) 2 shall be appointed who have experience providing investment advice to small businesses and low-income workers. (c) Head of council; terms; vacancies (1) In general The Chair of the Board shall designate 1 member of the Council to serve as head of the Council. (2) Term A member of the Council shall be appointed for a term of 4 years. (3) Vacancies (A) In general A vacancy in the Council shall be filled in the manner in which the original appointment was made and shall be subject to any conditions which applied with respect to the original appointment. (B) Term An individual chosen to fill a vacancy shall be appointed for the unexpired term of the member replaced. (C) Expiration The term of any member shall not expire before the date on which the member’s successor takes office. (d) Majority approval The Council shall act by resolution of a majority of the members. (e) Duties The Council shall— (1) advise the Board and the Executive Director on matters relating to— (A) investment policies for the Fund; and (B) the administration of title I of this Act; and (2) perform such other duties as the Board may direct with respect to investment funds established in accordance with title I.