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MEETING OF THE BOARD OF DIRECTORS OF THE PENSION BENEFIT GUARANTY CORPORATION (PBGC) February 28, 2020 3:30 – 4:30 pm

U.S. Department of Labor
Eugene Scalia, Secretary of Labor, and Chair, PBGC Board of Directors
Preston Rutledge, Assistant Secretary, Employee Benefits Security Administration
Patrick Pizzella, Deputy Secretary of Labor
Rachel Mondl, Chief of Staff to the Secretary
Andrew G. I. Kilberg, Counselor to the Secretary
Brett Swearingen, Counselor to the Deputy Secretary
Jeanne Klinefelter Wilson, Principal Deputy Assistant Secretary, Employee Benefits Security Administration
Tim Cummings, Chief of Staff, Employee Benefits Security Administration
Rebecca Cole, Senior Policy Advisor, Employee Benefits Security Administration
Monica McGuire, Senior Policy Advisor, Employee Benefits Security Administration
Ashley Piatt, Employee Benefits Law Specialist, Employee Benefits Security Administration

U.S. Department of the Treasury
Steven Mnuchin, Secretary of the Treasury
Philip Quinn, Senior Financial Analyst, Office of Financial Institutions Policy
W. Moses Kim, Director, Office of Financial Institutions Policy

U.S. Department of Commerce
Wilbur Ross, Secretary of Commerce
Tom Gilman, Chief Financial Officer and Assistant Secretary of Commerce for Administration (CFO/ASA)

Pension Benefit Guaranty Corporation
Gordon Hartogensis, Director, Pension Benefit Guaranty Corporation
Kristin Chapman, Chief of Staff
Paul Chalmers, Acting General Counsel and Secretary to the Board
Robert Scherer, Chief Information Officer
Tyler Hernandez, Senior Advisor, Office of Policy and External Affairs

PBGC Office of Inspector General
Robert Westbrooks, Inspector General
Nick Novak, Assistant IG for Audits

PBGC Office of the Participant and Plan Sponsor Advocate
Camille Castro, Senior Associate Participant and Plan Sponsor Advocate

The Chair called the meeting to order at 3:30 p.m. and welcomed the attendees. The Chair asked for approval of the minutes from the December 16, 2020 meeting, which the Board then approved by voice vote. The meeting then proceeded in accordance with the established agenda (Attachment 1).”

Director Gordon Hartogensis reported on efforts by PBGC to protect retirement security. He discussed PBGC’s efforts to implement provisions in the Fiscal Year 2020 Government Funding Agreement and provide technical assistance to Congress on multiemployer pension issues. He provided an update on PBGC litigation and regulatory developments. He described PBGC’s first approval of a facilitated merger under the Multiemployer Pension Reform Act; PBGC acted to protect a failing plan and preserve retirement benefits in a financially responsible way.

The Chair noted that PBGC’s presentation regarding its data security efforts had been moved to an upcoming Board meeting, but stated that everyone needs to mindful of data security given the existence of bad actors who seek to breach security and misappropriate or otherwise misuse confidential data.

The Chair then recognized Inspector General Bob Westbrooks. He updated the Board on investigations by his office into threats to PBGC data security. He commented PBGC should be a leader in combating insider threats and noted that PBGC management has been very cooperative in assisting in threat detection and prevention. He discussed with the Chair his process for working with management to address risks.

The Board reconvened in executive session at 3:48 p.m. Following executive session, there being no further business, the Chair adjourned the meeting.

Attachment 1

 

AGENDA

 

MEETING of the BOARD of DIRECTORS

of the PENSION BENEFIT GUARANTY CORPORATION (PBGC)

 

February 28, 2020

3:30 PM – 4:30 PM

U.S. Department of Labor

OSEC Conference Room Number S-2508

 

 

  1.  Introduction and Approval of
        December 16, 2019 Board Meeting Minutes:              Secretary Scalia
  2. Director’s Report:                                                         Director Gordon Hartogensis             
  3. OIG Update:                                                                 IG Bob Westbrooks
  4. Executive Session                                                               

 

 

Last Updated: December 9, 2020