Washington

PBGC names new directors for restructuring, policy, budget and procurement

Pension Benefit Guaranty Corp. announced four leadership appointments Tuesday, including in the agency's divisions for policy and analysis and for negotiations and restructuring, which work with plan sponsors to protect plan funding levels.

The new deputy chief of negotiations and restructuring, Rossi Marcelin, was manager of the agency's multiemployer program division, which oversees PBGC's financial assistance payments to insolvent plans and provides advice and technical assistance to multiemployer plan administrators and their service providers. During his tenure there, Mr. Marcelin oversaw the transition to an electronic platform and a more than 50% increase in financial assistance to failed multiemployer plans.

In his new position, Mr. Marcelin will help manage the agency's interactions with plan sponsors in both the multiemployer and single-employer programs.

Karen Morris, chief of negotiations and restructuring, said the deputy position has been vacant for some time due to changes in leadership. In a statement she added that Mr. Marcelin "has a great depth of management experience within the agency and in the private sector, where he led teams in the accounting and consulting areas … and has substantial experience working with troubled multiemployer pension plans, which is the most urgent challenge facing the agency."

Ted Goldman, a former senior pension fellow with the American Academy of Actuaries, was named director of the PBGC's policy, research and analysis department, where he will be involved in policy development, pension modeling and forecasting, and conducting retirement research. Michael Rae, deputy chief policy officer, praised Mr. Goldman's extensive leadership, policy and actuarial expertise. Mr. Goldman replaces two acting directors, supervisory actuary Jensen Chan and senior adviser Anne Henderson.

Kimberly Mayo was named director of the PBGC's budget department, and Jeffrey Donahue was named director of the procurement department. Ms. Mayo replaces Edgar Bennett, who retired at the end of October. Ms. Mayo was budget director with the Department of Housing and Urban Development. Mr. Donahue served as chief of PBGC's contract administration division, and as acting director of procurement from November 2017 to March 2018. He replaces two acting procurement directors, Steven Kvalevog and Roland Thomas.