Contact: Marc Hopkins 202.326.4149
WASHINGTON - The Pension Benefit Guaranty Corporation announced the appointment of Deputy Chief Counsel Karen Morris as Chief of Negotiations and Restructuring, where she will play a key role in the agency's efforts to preserve traditional pension plans.
"Karen is a leader among her peers and possesses an ideal combination of talent and energy," said PBGC Director Tom Reeder. "She will lead PBGC's work of preserving workers' pensions and protecting premium payers from unnecessary insurance program losses."
In her new role, Morris will direct the activities of the agency's Office of Negotiations and Restructuring, overseeing its actuarial, corporate engagement, financial analysis, multiemployer, and standard termination functions.
"I'm looking forward to this challenge," Morris said. "I welcome the opportunity to work with this team of talented and dedicated professionals. We have an important and challenging mission of protecting participants' benefits and working with employers to preserve the retirement security their pension plans provide."
During her career at PBGC, Morris has served in a variety of roles. She has deep knowledge of defined benefit pension plans, plan terminations, insurance principles, and PBGC's operations and mission. For the past six months, she has served as the acting head of the Office of Negotiations and Restructuring.
Morris received her law degree from Georgetown University Law Center, where she served as an editor of the Georgetown Journal of Legal Ethics, and her Bachelor of Science degree in accounting from the University of Maryland.
Morris replaced Sanford (Sandy) Rich, who left the agency in January.
PBGC protects the pension benefits of nearly 40 million Americans in private-sector pension plans. The agency is currently responsible for the benefits of about 1.5 million people in failed pension plans. PBGC receives no taxpayer dollars. Its operations are financed by insurance premiums, investment income, and with assets and recoveries from failed single-employer plans. For more information, visit PBGC.gov.