The PBGC was asked to provide details about the services its consultant, Wilshire Associates, has provided the agency and about work Wilshire may have provided to terminated pension plans now under PBGC's control, according to a statement from Reps. Edward Markey, D-Mass., and George Miller, D-Calif.
The representatives sent a letter to Bradley D. Belt, PBGC executive director, asking if the PBGC has asked Wilshire about any possible conflicts of interest. The congressmen also asked if the PBGC requested that Wilshire respond to the questions in the SEC and Department of Labor joint advisory for fiduciaries.
The Department of Labor subpoenaed Wilshire in April as part of its investigation of potential conflicts of interest in the pension consulting industry.
Kim M. Shepherd, Wilshire managing director, said in a statement: "Wilshire Associates has never served as a consultant to a plan that has been terminated and ended up under the control of the PBGC."
She said Wilshire's policy is "not to discuss our work for clients unless asked to do so by them."
Jeffrey Speicher, PBGC spokesman, had no comment and couldn't say when the PBGC will respond to the letter from Reps. Markey and Miller.