WASHINGTON— President Obama has appointed Donald J. Butt to serve as a member of the Advisory Committee of the Pension Benefit Guaranty Corporation. He is charged with representing the interests of the general public.
“Don’s experience in building and maintaining retirement benefits will be an important addition to the Advisory Committee,” said PBGC Acting Director Alice Maroni. “We look forward to his guidance in the days ahead.”
Mr. Butt serves on the Board of the Defined Contribution Institutional Investment Association, and is active with the Committee for the Investment of Employee Benefit Assets (CIEBA).
Prior to his current engagements, Mr. Butt worked for 40 years at Qwest Communications, retiring as the vice president for operations and defined contribution plans for Qwest Asset Management Co. in 2010. While at Qwest he was responsible for the design, investment management, and selection of investment options in the company’s $3 billion 401(k) plan. He was also part of the senior leadership team responsible for the investment and management of $10 billion in additional employee retirement assets.
Mr. Butt has a Bachelor of Science from Metropolitan State College in Denver and an MBA from the University of Denver.
PBGC protects the pension benefits of more than 42 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, investment income, and with assets and recoveries from failed plans. Learn more at PBGC.gov