U.S. Department of Labor
Martin J. Walsh, Secretary of Labor, and Chair, PBGC Board of Directors
Ali Khawar, Acting Assistant Secretary, Employee Benefits Security Administration (EBSA)
Mary Beech, Chief of Staff, EBSA
Nicole Swift, Division Chief, EBSA
Ashley Piatt, Employee Benefits Law Specialist, EBSA
U.S. Department of the Treasury
Janet L. Yellen, Secretary of the Treasury
Ben Harris, Assistant Secretary for Economic Policy
W. Moses Kim, Director, Office of Financial Institutions Policy
Carol Weiser, Benefits Tax Counsel
U.S. Department of Commerce
Don Graves, Deputy Secretary of Commerce
Andrew Kuritzkes, Senior Advisor to the Secretary
Sam Marullo, Senior Policy Advisor to the Secretary
Elena Satten-Lopez, Counsel to the General Counsel
Neil Bennett, Economist, U.S. Census Bureau
Pension Benefit Guaranty Corporation
Gordon Hartogensis, Director, Pension Benefit Guaranty Corporation
Karen Morris, General Counsel and Secretary to the Board
Kristin Chapman, Chief of Staff
Ann Orr, Chief Policy Officer
Patricia Kelly, Chief Financial Officer
John Hanley, Acting Chief of Negotiations and Restructuring
Robert Scherer, Chief Information Officer
David Foley, Chief of Benefits Administration
Alice Maroni, Chief Management Officer
Michael Rae, Deputy Chief Policy Officer
PBGC Office of Inspector General
Nick Novak, Inspector General
Brooke Holmes, Deputy Inspector General
PBGC Office of the Participant and Plan Sponsor Advocate
Constance Donovan, Participant and Plan Sponsor Advocate
Camille Castro, Senior Associate Participant and Plan Sponsor Advocate
The Chair called the virtual meeting to order and welcomed the attendees. The Chair asked for approval of the minutes from the August 31, 2022, meeting. The Board approved the meeting minutes by voice vote. The Chair recognized PBGC Director Gordon Hartogensis.
Director Hartogensis provided an update on the Special Financial Assistance (SFA) program, reporting on the number of SFA applications approved and paid, and the number of applications under review.
The Director recognized Karen Morris, General Counsel, who reported on the agency’s review of comments on its Final SFA Rule, and steps taken to finalize the agency’s proposed Withdrawal Liability Rule under § 4213 of ERISA.
The Chair recognized Secretary Yellen, who thanked the Director and PBGC for their work on these important rules. Deputy Secretary Graves agreed, noting the agency’s collaboration with the Board agencies.
The Chair recognized PBGC Inspector General Nick Novak. The Inspector General (IG) reported on the continuing work of OIG’s outside auditors in conducting the FY 2022 Financial Statement Audit. The IG then reviewed work on OIG’s open recommendations.
As there were no further questions, the Chair and the Board Members thanked Director Hartogensis and adjourned the meeting.
MEETING OF THE BOARD OF DIRECTORS OF
THE PENSION BENEFIT GUARANTY CORPORATION (PBGC)
Friday, September 23, 2022
9:00 a.m. – 10:00 a.m.
- Introduction by Secretary Walsh and Approval of the August 31 meeting minutes
- Director’s Report
- Withdrawal Liability
- Comments on SFA Final Rule
- 4213 Proposed Rule Briefing
- OIG Update