President Names Ghilarducci to PBGC Advisory Committee
FOR IMMEDIATE RELEASE
March 16, 2000
President Clinton has named Teresa Ghilarducci, of South Bend, Ind., for reappointment to the Advisory Committee of the Pension Benefit Guaranty Corporation (PBGC). A member of the panel since 1995, Ms. Ghilarducci represents the interests of employee organizations. Her term on the panel will expire on February 19, 2002.
Ms. Ghilarducci is Associate Professor of Economics at the University of Notre Dame. From 1994 to 1995, she served as Assistant Director of the Department of Employee Benefits at the AFL-CIO. Ms. Ghilarducci is a member of the Board of Directors of the Public Employee Retirement Fund for the State of Indiana and a member of the Board of Directors of the Interamerican Foundation for the Formation of Labor Pension Funds.
Ms. Ghilarducci received B.A. and Ph.D. degrees from the University of California at Berkeley.
PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974 (ERISA) to guarantee payment of basic pension benefits earned by about 42 million American workers and retirees participating in more than 44,000 private-sector defined benefit pension plans. The agency receives no funds from general tax revenues. Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and investment returns.
ERISA outlines several specific responsibilities for PBGC's Advisory Committee, including advising on policies and procedures of PBGC's investments and trusteeship of terminated plans and on other matters as determined by PBGC.
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PBGC No. 00-19