Ranking Member Cassidy on Biden Nomination for PBGC Director, Calls for HELP Hearing

WASHINGTON – Today, U.S. Senator Bill Cassidy, M.D. (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, released a statement on the nomination of Deva Kyle to become director of the Pension Benefit Guaranty Corporation (PBGC). The nomination would fill the vacancy created upon the completion of the prior director's five-year term. Cassidy is calling for a HELP Committee hearing to consider the nomination.  

“The PBGC needs a director who has a concrete plan to right the ship and will be unaffected by partisan politics,” said Dr. Cassidy. “Given the PBGC’s historic shortcomings, it is important the HELP Committee hold a thorough review process and a confirmation hearing for this nominee.” 

Earlier this week, Cassidy raised concerns with President Biden over the state of PBGC. Specifically, PBGC grossly mismanaged the rollout of Democrats’ 2021 pension bailout, overpaying the Central States Pension Fund by $127 million after the fund included 3,479 dead participants in their bailout request. PBGC has also been publicly criticized for its delays in providing technical assistance to pension plans that are experiencing significant financial troubles. 

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