Senators Refer Audit of PBGC Procurement Process to Justice Department

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Senators Refer Audit of PBGC Procurement Process to Justice Department

The following press release was published by the United States Committee on Finance Ranking Member’s News on May 20, 2009. It is reproduced in full below.

Dear Attorney General Holder:

In recent days, serious questions have arisen about the actions and involvement ofCharles Millard, former director of the Pension Benefit Guaranty Corporation (PBGC), in that agency’s procurement processes. Attached is an audit report by the PBGC’s Inspector General that investigated troubling allegations relating to Millard’s involvement in the selection ofinvestment firms to manage $2.5 billion in trust fund assets.

We trust that the Justice Department will engage in a thorough and independent review of Mr.Millard’s actions.

Thank you for your attention and should you have any questions, please have your staff contact Ben Olinsky of Senator Kennedy’s staff at (202) 224-XXXX or Emilia DiSanto of Senator Grassley’s staff at (202) 224-XXXX.

Sincerely,

Edward M. Kennedy Chairman HELP Committee

Max Baucus Chairman Committee on Finance

Michael Enzi Ranking Member HELP Committee

Charles E. Grassley Ranking Member Committee on Finance

Barbara A Mikulski Member HELP Committee

Richard A. Burr Member HELP Committee

Source: Ranking Member’s News

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