Who will hold the key Trump administration benefits positions?

The White House. Credit: Shutterstock

News is starting to surface about rumored and confirmed picks for positions in the new Trump administration.CNN has confirmed, for example, that the administration has offered the post of ambassador to the United Nations to Rep. Elise Stefanik, a New York state Republican.Many publications are reporting rumors that Sen. Marco Rubio, R-Fla., could be nominated to be secretary of state.For benefits buyers, brokers and consultants, the federal officials with the most obvious impact tend to be the secretaries in charge of the Treasury Department, Labor Department and Health and Human Services Department, along with the heads of the Internal Revenue Service, the Employee Benefits Security Administration and the Centers for Medicare and Medicaid Services.The Trump administration is so new that even rumors about the top contenders are in short supply. At press time, for example, Politico was running a tracking chart with blank circles in the Treasury, Labor and HHS positions.Here’s speculation about who could be in the running, based on press reports and former Trump administration officials and Republican members of Congress who suddenly seem to be getting a lot more publicity.Treasury: The Treasury Department and the department’s most visible agency, the IRS, affect benefit plans by deciding how to interpret the rules governing the taxes, tax exclusions and tax penalties used to encourage employers to offer benefits, such as group health coverage, and workers to use the benefits.CNBC is reporting that John Paulson, a hedge fund chief and Trump donor, has taken himself out of the running, and The Hill is reporting that Steven Mnuchin, who was the Treasury secretary during Trump’s first term, has also bowed out. Scott Bessent, the founder of Key Square Group, could also be in the running, according to The Hill and Reuters.Bloomberg has suggested that the list of other candidates could include Howard Lutnick, the chief executive officer of Cantor Fitzgerald, and Virginia Gov. Glenn Youngkin, a Carlyle Group veteran.Trump may not get a chance to replace the current head of the IRS, IRS Commissioner Daniel Werfel, immediately. IRS commissioners serve five-year terms, and Werfel’s term began in March 2023.Labor: EBSA, an arm of Labor, oversees any of the many benefit plan issues that involve the Employee Retirement Income Security Act, such as the current debate about whether pharmacy benefit managers should be ERISA fiduciaries.One possible contender for the Labor secretary post could be Sen. Joe Manchin, an independent from West Virginia who is retiring.