Combs to Head Vanguard Strategy Operation

January 4, 2007 ( - Ann Combs, who helped shape national pension and employee benefit policy during five years as head of the Employee Benefits Security Administration (EBSA), will be taking a new strategy development post at The Vanguard Group in February.

She will lead a newly created Institutional Strategic Consulting group with oversight responsibilities for Vanguard’s retirement policy, research, and plan consulting activities, Vanguard announced in a news release.

Combs stepped down from the EBSA in October 2006 after 5 ½ years (See EBSA’s Combs Says Farewell to Benefits Regulation ). During that time, she played a pivotal role in formulating the recently-enacted Pension Protection Act. Before that, Combs was vice president and chief counsel for pensions and retirement at the American Council of Life Insurers and a principal of William Mercer, Inc.

Combs received a BA degree from the University of Notre Dame and a JD degree fromGeorge Washington University.

Vanguard, headquartered inValley Forge, Pennsylvania, oversees more than $400 billion in assets for defined contribution plans, defined benefit plans, and other institutional clients. It provides full-service defined contribution recordkeeping services for 1,800 plan sponsors and 2.8 million participants, the company said.