Deals and People April 26, 2010

Gotbaum PBGC Nomination Up for Wednesday Vote

April 26, 2010 (PLANSPONSOR.com) – President Obama’s nomination of Joshua Gotbaum as director of the Pension Benefit Guaranty Corporation (PBGC) is scheduled for a U.S. Senate committee vote on Wednesday.
Reported by

An announcement on the Web site of the Senate Health, Labor, Education and Pensions Committee said it will meet at 10 a.m. in 430 Dirksen Senate Office Building to consider the nomination of Gotbaum, an operating partner at the private equity firm Blue Wolf Capital Management.

At a Senate hearing in January, Gotbaum admitted that the next PBGC director will have a host of tough issues to face.

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“We all know the PBGC is going through hard times, just when it is needed more than ever. Its finances are out of balance. Despite improvements, its service continues to disappoint some; its benefit levels frustrate others,” Gotbaum testified (seeGotbaum Admits PBGC a Tough Job). 

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