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News & Policy

President Selects Jerome A. Stricker for PBGC Advisory Committee

May 17, 2000

President Clinton has named Jerome A. Stricker, of Covington, Ky., for appointment to the Advisory Committee of the Pension Benefit Guaranty Corporation (PBGC). As a member of the panel, Mr. Stricker will represent the interests of the general public.

Mr. Stricker, a Covington city commissioner, has had a long career with Gradison and Co., Cincinnati, serving in numerous positions of leadership including executive vice president and chief financial officer, and vice chairman. He is also the former chairman of the Cincinnati/Northern Kentucky International Airport.

Mr. Stricker received a B.S. degree from the University of Kentucky.

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 43 million American workers and retirees participating in nearly 40,000 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. 00-27