Kenneth L. Holmes and Dallas L. Salisbury were named recipients of the EBRI Lillywhite Award. The award is named for pension investment pioneer Ray Lillywhite and honors outstanding lifetime contributions to America's economic security. It was presented Feb. 10 at the Pensions & Investments East Coast Defined Contribution Conference in Miami Beach, Fla.
Mr. Holmes, a retired investment manager and consultant, played a key role in forming the National Association of State Investment Officers in 1976. In addition, he was a founder of two investment management firms — one that became AllianceBernstein and Holmes Clark Morong — and has been a consultant in pension and investment matters to the Treasury and Labor departments.
“I'm delighted,” Mr. Holmes said in a phone interview, adding that he was close to Mr. Lillywhite and his wife, Eloise, for years.
Mr. Salisbury is president and CEO of the Employee Benefit Research Institute, Washington. He joined EBRI at its founding in 1978. He also has served on several pension-related panels, including the Labor Department's ERISA Advisory Council and the PBGC Advisory Committee.
“This is clearly an honor,” Mr. Salisbury said in a phone interview, calling Mr. Lillywhite “one of the masters of this field.”
Mr. Salisbury also paid homage to Mr. Holmes, saying he was instrumental in much of the early work revolving around Employee Retirement Income Security Act fiduciary provisions.
“He also dedicated a career to this and had worked closely with Ray for decades ... He was a groundbreaker in his own right,” Mr. Salisbury said.
Mr. Salisbury was picked as an award recipient because EBRI, under his leadership, has “become the premier source of unbiased information on all aspects of employee benefits.” Michael J. Clowes, retired editorial director of P&I and chairman of the 2009 selection committee, said at the conference, according to prepared remarks. — Jennifer Byrd
