(a) There is hereby created the State Unemployment Compensation Advisory Council to be composed of nineteen members which shall consist of:

(b) Members shall be appointed for two-year terms commencing on February 1 of each odd-numbered year. Initial appointments shall be made within sixty days of final enactment of this act and shall expire on January 30, 1987.

(c) Members of the council shall receive no compensation but shall be entitled to receive an allowance for expenses incurred in the performance of their duties.

(d) The Secretary of Labor and Industry shall be the chairman of the council. The council shall meet at least four times each year.

(e) The council may, upon a majority vote, appoint an executive director and one clerical assistant, and establish their compensation, to aid the council in the performance of its functions. The compensation of such employes and the amount allowed them for traveling and other incidental expenses shall be deemed part of the expenses incurred in connection with the administration of this act.

(f) The council shall consider and advise the department upon all matters related to the administration of this act, including the formulation of policies assuring impartiality and freedom from political influence in its administration, and making studies relating to unemployment and unemployment compensation payments. Such council may recommend to the Governor and the General Assembly, upon its own initiative, such changes in the provisions of this act, and in the administration thereof, as it deems necessary and shall make periodic reports to the Governor and the General Assembly regarding the findings of its studies and the performance of its duties and functions. The council shall have full access to information relating to the purpose of this act, provided the department shall not be required to provide any information which would specifically identify any employer, employe or claimant.

(g) The Governor shall have the power to create such local advisory councils as the State Advisory Council may deem necessary for the efficient performance of its functions. Such local advisory councils shall be composed of an equal number of members representing employers, employes and the public and shall be appointed by the Governor.

(h) The members of local advisory councils shall serve without compensation but shall be entitled to be reimbursed out of the administration fund for all necessary expenses incurred in the discharge of their duties.

(i) The State Advisory Council upon request shall be given copies of any report made by the department to the United States Department of Labor and shall have access to any other information requested by the council, including, but not limited to:

At the discretion of the council, this information shall be provided on computer tape if the information is on computer tape. The department shall not be required to provide any information which would specifically identify any employer, employe or claimant.

(j) The council shall have the authority to authorize the preparation of an annual financial analysis of the Unemployment Compensation Fund and may contract with an independent actuarial firm of certified actuaries and such other consultants as may be necessary to perform such thorough annual financial analysis. The department shall supply the actuaries with all information required to perform this analysis as the actuaries may require, provided the department shall not be required to provide any information which would specifically identify any employer, employe or claimant. This analysis, if authorized, shall be completed by September 1 of each year for the previous calendar year. The analysis report shall be given to the Governor, the secretary, the State Advisory Council and the General Assembly and shall be made available to the public. The analysis shall include, but not be limited to, the following:

(k) The department shall also prepare and present to the Governor and the General Assembly, on or before the first day of March of each year, an evaluation of the financial operations of the unemployment compensation program, together with its findings and recommendations for developing and improving solvency of the fund and adjusting and regulating income and disbursements in the fields of contributions and benefits. Such report shall include the presentation of the current economic trends, statistics and analyses on which the evaluation is based. This evaluation shall include all of the following: