PBGC New Management Hires
FOR IMMEDIATE RELEASE
October 17, 2012
WASHINGTON - The Pension Benefit Guaranty Corporation announced today the new directors of its benefits payments and quality management departments.
"PBGC is one of the best benefits organizations in government, and our new recruits are committed to keeping it that way" said PBGC Director Josh Gotbaum, "We're fortunate to be able to attract managers of such high quality."
Director of Quality Management - Diane Braunstein
Diane Braunstein, an associate commissioner of the Social Security Administration, is joining PBGC to create a Department of Quality Management. In this role, she will oversee a new department focused on best practices for the benefits department and the agency at large.
Braunstein has had a distinguished career including service to both the Congress and the Executive Branch, and as director of the Michigan Office of Services to the Aging, which provides home and community-based services to people on fixed incomes.
She also served as deputy staff director of the Senate Aging Committee, where she also handled retirement income issues for Sen. John Heinz. Braunstein is a recipient of the 2011 Service to America award for excellence in federal service.
Director of Benefits Administration & Payments - Phil Langham
Philip R. Langham, the former executive director of the Richmond Retirement System, is now director of the Benefits and Payment Department (BAPD) and has been on board since mid-September.
Langham has an extensive history in public service at both the federal and local government levels. While head of Richmond's retirement system he managed traditional pension and defined contribution programs, as well as Richmond's investment portfolio with more than $500 million in assets.
He currently serves on the Board of Directors at the Virginia College Savings Plan (529) with over $2 billion in assets.
A retired lieutenant colonel from the Air Force, Langham has also held positions with the Office of the Secretary of Defense, the Joint Staff of the Department of Defense, and various Air Force bases throughout the U.S. and Panama.
Langham will lead ongoing improvements stemming from the strategic review of BAPD that began in 2011, including establishment of new groups specializing in valuing pension assets and in data acquisition.
PBGC protects the pension benefits of 44 million Americans in private-sector pension plans. The agency is directly responsible for paying the benefits of more than 1.5 million people in failed pension plans. PBGC receives no taxpayer dollars and never has. Its operations are financed by insurance premiums and with assets and recoveries from failed plans. For more information, visit PBGC.gov.
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PBGC No. 12-29