WASHINGTON, D.C. – Today, the Pension Benefit Guaranty Corporation (PBGC) announced the appointment of John Hanley as Chief of Negotiations and Restructuring.
“John Hanley is an excellent fit to lead the Office of Negotiations and Restructuring,” said PBGC Director Gordon Hartogensis. “He understands the challenges facing the plans we insure, and he’s been a key player in getting the Special Financial Assistance Program up and running.”
Hanley has served in several leadership positions, including Deputy Chief of Negotiations and Restructuring, since joining PBGC in 2005. He has worked on a wide variety of matters during his tenure with the agency, including complex casework and settlement negotiations. Since June 2022, Hanley has served as the Acting Chief of Negotiations and Restructuring and has demonstrated his ability to lead the Office of Negotiations & Restructuring through many challenges facing Multiemployer and Single-Employer Program operations.
Earlier in his career, he held executive management positions at both Citicorp/Citibank and The Chase Manhattan Bank, as well as serving as CEO of the North American Securities Administrators Association.
Hanley graduated cum laude from St. Lawrence University with a Bachelor of Arts in history. He also studied at Case Western Reserve University and the University of Edinburgh in Scotland.
Hanley replaces Karen Morris, who was appointed General Counsel.
PBGC protects the retirement security of over 33 million American workers, retirees, and beneficiaries in both single-employer and multiemployer private sector pension plans. The agency’s two insurance programs are legally separate and operationally and financially independent. PBGC is directly responsible for the benefits of more than 1.5 million participants and beneficiaries in failed pension plans. The Single-Employer Program is financed by insurance premiums, investment income, and assets and recoveries from failed single-employer plans. The Multiemployer Program is financed by insurance premiums. Special financial assistance for financially troubled multiemployer plans is financed by general taxpayer monies.