Bradley D. Belt was named executive director of the Pension Benefit Guaranty Corp. by Labor Secretary Elaine Chao. He replaces Steven A. Kandarian, who resigned earlier this year. Mr. Belt was president of Washington Capital Group, a consulting firm for financial institutions. He will be taking the helm at a time when the PBGC is running a deficit of more than $11 billion.
Before working at Washington Capital, Mr. Belt was senior vice president at the Center for Strategic and International Studies, a Washington think tank, and participated in the center's national council on retirement policy, which issued a report on retirement security in 1998. Mr. Belt also has testified before the Labor Department's ERISA Advisory Committee on the impact of tax reform on pension funds, and was a member of the Social Security Advisory Board. He also has held senior staff positions at the Securities and Exchange Commission and was Republican counsel to the Senate Banking, Housing and Urban Affairs Committee, which has jurisdiction over securities matters.
