The committee helps Democrats seek election to the U.S. Senate.
Democrats expanded their Senate majority under Schumer to its biggest margin in 30 years.
Menendez has been vice chair of the group for two years.
He spent more than a decade in the House of Representatives before being appointed to fill the remainder of Gov. Jon Corzine's term in 2006. Menendez won election to a full term later that year.
Corzine chaired the committee from 2003 to 2005.
