This research memorandum highlights the collaborative efforts of the literacy panel for the ETS Return on Investment (ROI) Study, Phase 1, comprising Jean-François Rouet, M. Anne Britt, and Tobias Richter, in developing their research memorandum, "Literacy Skills at and around Level 2 of the PIAAC Cycle 2 Proficiency Scale." This memorandum captures the expert opinions from the panel sessions. It is provided as supporting documentation for the policy report, "Level Up: Raising the Skills of Adults in the United States and Other Countries."