Within social psychology, most observers would consider the top three empirical research journals to be the Journal of Personality and Social Psychology (JPSP), Personality and Social Psychology Bulletin (PSPB), and the Journal of Experimental Social Psychology (JESP). Unlike medical journals that sometimes have one-word names such as Eye, Pain, and Thorax, social psychology journals have long names that necessitate the use of the aforementioned abbreviations in our conversations.
Just as January marks the start of a new year, it also marks the beginning of a new annual volume for most academic journals, at least those that publish monthly (some journals publish two or more volumes a year, but one of them would often start in January). The beginning of a new publishing year provides a nice opportunity to note the 1980s-era University of Michigan social psych Ph.D.'s serving in editorial roles for these three social/personality journals.
Most journals in the field tend to have the same editorial structure. Each journal has an editor, a small set of associate editors, and a pretty large board of consulting editors. When an author submits a manuscript to a journal to be considered for publication, the editor will either oversee the review process for that manuscript him/herself or transfer it to an associate editor to oversee. The editor/associate editor will generally send the manuscript to around 3-5 reviewers (from among the consulting editors and experts not on the board, the latter being known as "ad hoc reviewers"). The editor/associate editor overseeing the review of a given manuscript will then integrate the reviewers' evaluative comments along with his/her own independent judgment, leading to an editorial decision of accept, revise-and-resubmit, or reject (immediate acceptances are extremely rare).
At this moment, there is at least one UM Ph.D. grad serving as an associate editor at all three of the social/personality journals listed above. JPSP is such a large journal that it is divided into three subsections: Attitudes and Social Cognition, Interpersonal Relations and Group Processes, and Personality Processes and Individual Differences. Monica Biernat serves as an associate editor for the Attitudes and Social Cognition section of JPSP (this latter link takes you to lists of the editorial teams for all three JPSP sections).
PSPB's list of associate editors includes two Michigan grads, Paula Niedenthal and Bill von Hippel.
Finally, Steve Spencer is an associate editor for JESP.
In looking at the larger category of consulting editors for these journals (available via the above links), the Michigan alums (and post docs) listed are too numerous to mention. I particularly applaud the associate editors, however. I have only served as a reviewer (both as a consulting editor for JPSP in previous years and as an ad hoc reviewer for many journals), and simply reviewing a manuscript is a lot of work. I'd imagine that the effort must be magnified considerably for an associate editor or editor.