PBGC Committee Gets New Members

June 29, 2004 (PLANSPONSOR.com) - The Bush Administration has tapped a new chair of the Advisory Committee of the Pension Benefit Guaranty Corporation (PBGC) as well as three committee members.

Named as chair was Melody McDonald of San Francisco, managing director at RCM Capital Management LLC, a San Francisco investment firm. Her investment management and banking career includes 18 years at RCM and four years at Wells Fargo Bank, according to a PBGC news release. McDonald received a master of arts from the New England Conservatory of Music, a doctorate in music from Stanford University and a master’s in business administration from Harvard Business School.

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Named as committee members were:

  • Thomas Garrott of Memphis, chairman of the executive committee of National Commerce Financial (NCF) Corp., a retail bank where he served as chairman of the board until 2003. He holds a bachelor’s degree in economics from Vanderbilt University and a master’s in business administration from the Wharton School of Finance at the University of Pennsylvania. Garrott will represent the interests of employers in a term that expires in 2007.
  • Betty Scott Ireland of Charleston, W.Va., president and CEO of Jackson & Kelly Solutions LLC, the enterprise arm of West Virginia’s largest law firm. She previously served as head of Jackson & Kelly’s employee benefits group and from 1998 until 2000 was executive director of the West Virginia Consolidated Public Retirement Board. Ireland is a graduate of the University of Cincinnati. She will represent the interests of employers until 2007.
  • James Nevels of Swarthmore, Pa., chairman of the board of The Swarthmore Group, an independent investment advisory firm. Nevels earned a bachelor’s degree in philosophy and political science from Bucknell University, a J.D. from the University of Pennsylvania Law School and a master’s in business administration from the Wharton School of Finance. He will represent the interests of the general public until 2007.

The PBGC is the nation’s insurer of private-sector pension plans that receives its financing from insurance proceeds paid by covered companies and investment income.

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