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News & Policy

Stephen E. Barber Named Chief Administrative Officer at PBGC

September 06, 2005

WASHINGTON -The Pension Benefit Guaranty Corporation (PBGC) today announced the appointment of Stephen E. Barber as chief administrative officer.

Barber comes to the PBGC from the U.S. Department of Transportation's Federal Motor Carrier Safety Administration (FMCSA), where he served as director of the Office of Information Management, with responsibility for a nationwide information technology program that supported 10,000 federal and state users. As the FMCSA's associate administrator for enforcement and program delivery from 2000 to 2003, he developed enforcement policies for heavy-truck and bus-safety regulation, including cross-border trucking negotiations with Canada and Mexico. From 1991 to 2000 Barber headed the resource management division of the Federal Highway Administration, with responsibility for budget, acquisition, human resources, training and facilities for the Office of Motor Carrier Safety.

"The recent wave of corporate pension terminations has left the PBGC responsible for the pensions of almost 1.3 million Americans and exponentially increased the agency's workload," said Executive Director Bradley Belt. "Steve Barber is a seasoned federal executive who has demonstrated his ability to solve complex administrative problems under challenging circumstances. He has the right combination of skill and commitment to maintain and strengthen the PBGC's high standards of customer service and operational efficiency."

Barber holds a bachelor of business administration in management, marketing and economics from James Madison University.

The PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974. It currently guarantees payment of basic pension benefits earned by 44 million American workers and retirees participating in over 31,000 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 by investment returns.

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PBGC No. 05-59