PBGC Director Welcomes Cheryl Alston and Daralyn Peifer to Advisory Committee
FOR IMMEDIATE RELEASE
February 11, 2011
WASHINGTON—Pension Benefit Guaranty Corporation Director Joshua Gotbaum today issued the following statement welcoming President Obama's intent to appoint Cheryl D. Alston and Daralyn B. Peifer to the agency's Advisory Committee:
"The President has selected two nationally respected professionals to advise the PBGC on investments and other matters. Cheryl and Daralyn bring a deep understanding of pensions and the challenges facing the defined-benefit system. I look forward to their wise counsel as we work together to strengthen the PBGC safety net for American retirees."
Ms. Alston has been executive director for the Employees' Retirement Fund of the City of Dallas, Texas, since October 2004. She is also a member of the Council of Institutional Investors, the National Council of Public Employee Retirement Systems, the Texas Association of Public Employee Retirement Systems and the National Association of Securities Professionals. Ms. Alston also serves as vice-chair of the Volunteer Center of North Texas and a speaker at multiple industry conferences. She has an M.B.A. in finance from the Leonard N. Stern School at New York University and an undergraduate degree from the Wharton School at the University of Pennsylvania. Ms. Alston's term ends in 2013.
Ms. Peifer is retired from General Mills Inc., where she served as vice president, treasurer and chief investment officer. She was responsible for the company's corporate finance, cash management and risk management activities. In addition, Ms. Peifer oversaw the investment of General Mills' pension, savings and retiree health assets as well as the performance measurement, accounting, auditing and operations of the retirement plans. During her tenure, General Mills' pension plans ranked among the top performing corporate plans in the country. She has over 25 years of capital market experience and is a chartered financial analyst. Ms. Peifer received M.B.A. and M.A. degrees from the University of Minnesota and graduated Phi Beta Kappa from the College of St. Catherine in St. Paul, Minn. Ms. Peifer's term ends in 2013.
About the PBGC
The PBGC Advisory Committee carries out several specific responsibilities outlined by the Employee Retirement Income Security Act (ERISA) of 1974, including advising on PBGC investment policies and procedures, the trusteeship of terminated plans, and other matters as determined by the PBGC.
The PBGC is a federal corporation that guarantees payment of basic pension benefits earned by 44 million American workers and retirees participating in over 27,500 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. 11-21