May 21,2015

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Wyden Praises Thomas Reeder's Nomination to Lead the Pension Benefit Guaranty Corporation

Says Reeder’s experience, “policy acumen and integrity” make him a strong choice

WASHINGTON –Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today offered his strongest, most unqualified endorsement of President Obama’s decision to nominate Thomas Reeder to be the next director of the Pension Benefit Guaranty Corporation (PBGC).

“The President has made a wise and necessary choice by nominating Tom Reeder,” said Wyden, who previously urged the President to select Reeder to oversee the government’s primary mechanism for protecting American workers’ private-sector pensions.

“Tom has, without question, the leadership skills, policy acumen and integrity to be a strong leader of this important agency. His leadership is especially important at this point in time when the trend is to move away from defined benefit pension plans, when the nation’s savings rate remains low and budgets are tight at the PBGC. He is just the man we need at this moment and I urge my Senate colleagues to quickly confirm him,” Wyden said.

Reeder has broad experience both on Capitol Hill, and at the Treasury Department where he served as Benefits Tax Counsel in the Office of Tax Policy. As Senior Benefits Counsel at the Finance Committee, his guidance on pension and employee benefit matters was invaluable because of the depth of his knowledge.  Most recently, Tom served as health care counsel for the Internal Revenue Service.

When confirmed, Reeder will take the reins of the PBGC at a critical moment. The PBGC insures the pension benefits of America’s workers at a time when the agency is under financial stress. In that respect, Wyden noted that Reeder’s experience and temperament are strong attributes. Reeder, he said, “has a passion and experience with pension matters but he is someone who works well with others and can get things done.”

Reeder’s nomination will be considered by the Senate Finance Committee where Wyden said he will work hard to move Reeder’s consideration quickly and beyond that to the Senate floor.