The Senate Health, Education, Labor, and Pensions (HELP) Committee has approved the nomination of Janet Dhillon to serve as the Director of the Pension Benefit Guaranty Corporation (PBGC). The decision was made with a narrow vote of 12-11.
Senator Bill Cassidy, chair of the HELP Committee, expressed support for Dhillon's nomination before the vote. He emphasized the need for reform within PBGC and criticized its management under the Biden administration. According to Cassidy, "Under the Biden administration, PBGC was plagued by severe operational issues; costing taxpayers and putting Americans’ retirement plans at alarming levels of underfunding."
Cassidy pointed out specific issues such as mismanagement during the rollout of Democrats' 2021 pension bailout. He mentioned that PBGC failed to implement necessary safeguards, resulting in overpayments like "$127 million after the fund included 3,479 dead participants in their bailout request." He credited Republican oversight for preventing $375 million in taxpayer dollars from being wrongly paid to pension funds.
He also highlighted delays in providing technical assistance to troubled pension plans, which could have led to further financial difficulties for those plans. Cassidy stated that "We need a fresh perspective leading PBGC," endorsing Dhillon as someone committed to reforming the agency.
Dhillon's previous leadership roles were noted by Cassidy as evidence of her capability. As Chair of the Equal Employment Opportunity Commission, she secured more than $535 million in recoveries for victims of workplace discrimination.
Cassidy concluded his remarks by urging colleagues to support Dhillon's nomination. Following his statement, Senator Sanders was recognized for his opening remarks.
For further information and updates from HELP Republicans, their website and Twitter account @GOPHELP are available.
