Cheryl Alston and Daralyn Peifer were named by President Barack Obama to the advisory committee of the Pension Benefit Guaranty Corp., according to a PBGC statement Friday.
Ms. Alston is executive director of the $2.7 billion Dallas Employees’ Retirement Fund, and Ms. Peifer is retired vice president, treasurer and chief investment officer of Minneapolis-based General Mills Inc., where she oversaw the investment of General Mills’ pension, savings and retiree health assets. General Mills has $6.2 billion in pension and defined contribution assets.
They replace R. Todd Gardenhire, senior vice president, Morgan Stanley Smith Barney, and Richard A. Manka, CIO of The Kroger Co., Cincinnati, overseeing its $5.7 billion in retirement assets, whose terms expired last year, according to Jeffrey Speicher, PBGC deputy director of communications and public affairs.
Ms. Alston and Ms. Peifer are expected to begin their terms this month as soon as they can be sworn in, Mr. Speicher said. Their terms for the non-paid positions end in 2013.
The terms of three of the current four members on the committees expire Feb. 19: Jack Miller, retired senior adviser for General Motors Asset Management; Dana M. Muir, professor of business law at the University of Michigan’s Stephen M. Ross School of Business; and John J. Szczur, director, pension investments at the $9.1 billion National Rural Electric Cooperative Association, Arlington, Va.
With the two new appointees, the committee will have three members, including David M. Strauss, committee chairman who served as the PBGC executive director from 1997 to 2000.
The advisory committee advises the PBGC on investment policies and procedures, and other issues for its almost $80 billion in assets, Mr. Speicher said.