Bio for Damon Silvers
Damon A. Silvers
Director of Policy and Special Counsel
Damon A. Silvers is the Director of Policy and Special Counsel for the AFL-CIO.
Mr. Silvers serves on a pro bono basis as a Special Assistant Attorney General for the state of New York. Mr. Silvers is also a member of the Public Company Accounting Oversight Board’s Standing Advisory Group and Investor Advisory Group.
Mr. Silvers served as the Deputy Chair of the Congressional Oversight Panel for TARP from 2008-2011. He had served on the Securities and Exchange Commission’s Investor Advisory Committee. Mr. Silvers also was the Chair of the Competition Subcommittee of the United States Treasury Department Advisory Committee on the Auditing Profession and a member of the United States Treasury Department Investor’s Practice Committee of the President’s Working Group on Financial Markets.
Prior to working for the AFL-CIO, Mr. Silvers was a law clerk at the Delaware Court of Chancery for Chancellor William T. Allen and Vice-Chancellor Bernard Balick.
Mr. Silvers received his J.D. with honors from Harvard Law School. He received his M.B.A. with high honors from Harvard Business School and is a Baker Scholar. Mr. Silvers is a graduate of Harvard College, summa cum laude, and has studied history at Kings College, Cambridge University.
Mr. Silvers’ publications include: “A Response to Vice-Chancellor Leo Strine Jr.’s, Toward Common Sense and Common Ground? Reflections on the Shared Interests of Managers and Labor in a More Rational System of Corporate Governance,” published in the Journal of Corporation Law (2007); “The Current State of Auditing as a Profession: A View from Worker-Owners,” published in Accounting Horizons (2007); “Securities and Exchange Commission: Restoring the Capital Markets Regulator and Responding to Crisis,” published in Change for America: A Progressive Blueprint for the 44th President (2008); “The Legacy of Deregulation and the Financial Crisis—Linkages Between Deregulation in Labor Markets, Housing Finance Markets, and the Broader Financial Markets,” published in the Journal of Business & Technology Law (2009); and “Rebuilding Workers’ Retirement Security: A Labor Perspective on Private Pension Reform,” published in Restructuring Retirement Risk Management in a Defined Contribution World (2010).
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A 401(k) plan is a retirement savings plan in which the benefit is based on contributions to an individual account and the investment return on those contributions. Typically, employees make contributions to the plan and, in many cases, employers match the employees' contributions. These plans are called defined contribution plans. In most 401(k) and other retirement savings plans, the employee is responsible for choosing among the investments offered by the plan. Other types of retirement savings plans are 403(b) and 457 plans.