Sen. Herb Kohl, D-Wis., chairman of the Senate Special Committee on Aging, announced Friday that he won't seek re-election in 2012.
Mr. Kohl's replacement on the committee will be determined by both seniority and the interests of fellow panel members. Next in line by seniority is Ron Wyden, D-Ore. Mr. Wyden will wait until the next Congress, which begins Jan. 3, 2013, to decide whether to take over the committee chairmanship, according to Tom Caiazza, Mr. Wyden's press secretary.
Mr. Kohl is in his fourth term as senator. He has overseen numerous hearings and introduced bills to tighten protections on securities lending in retirement plans and overhaul the PBGC. His proposed Pension Benefit Guaranty Corp. Governance Improvement Act would expand PBGC's board to seven members from three members, and it may be introduced later this year. He also has pushed for better disclosure of target-date fund information.
