TO THE MEMBERS OF THE UNITED STATES SENATE:
The U.S. Chamber of Commerce supports the nomination of Gordon Hartogensis to be Director of the Pension Benefit Guaranty Corporation (“PBGC”).
Filling this position is critical because the PBGC is currently facing a crisis in its Multiemployer Program. The most recent report of the agency indicates that it expects the program to be insolvent by 2025. Moreover, many multi-employer plans are already experiencing financial distress. Leadership is needed to address this crisis and ensure a secure retirement for all multi-employer plan participants.
Mr. Hartogensis’s past experience, working at Credit Suisse, running two private sector businesses, and managing a private equity and angel investment portfolio, will help him guide the PBGC through this turbulent time. His private sector business background is particularly relevant, as he was ultimately responsible for the retirement plans of those businesses.
The Chamber urges the swift confirmation of Gordon Hartogensis to be Director of the PBGC.
Sincerely,
Neil L. Bradley
