MONEY MANAGEMENT

Multiemployer advocacy group names new executive director

Michael D. Scott was named executive director of the National Coordinating Committee for Multiemployer Plans on Thursday.

Mr. Scott will replace Randy G. DeFrehn, who will retire Jan. 1 after 40 years at the NCCMP.

The NCCMP represents 1,400 multiemployer pension plans with more than $500 billion in plan assets. It was instrumental in developing and promoting multiemployer pension reform ideas that formed the basis of the Kline-Miller Multiemployer Pension Reform Act of 2014.

Mr. Scott's has been a self-employed strategic adviser since 2010.

NCCMP Chairman Sean McGarvey said in a statement that Mr. Scott “has significant investment banking and advisory experience” with the federal government and the private sector, including stints at the Treasury Department from 2001 to 2006 and as the principal adviser to then-Securities and Exchange Chairman Christopher Cox during the financial crisis.

“We look forward to Michael joining our team in 2017 and to identifying opportunities to work with the new administration and the Congress on issues such as multiemployer pension plan reform, the strengthening of our nation's health-care system, and leveraging our pension assets to support infrastructure and work opportunities for plan participants,” Mr. McGarvey said.

He praised Mr. DeFrehn “for a 40-year career in which he tirelessly devoted himself to the health and vitality of multiemployer health-care and pension plans, and for positioning NCCMP at the forefront of important policy deliberations that directly affected the interests of multiemployer plan participants.”