PBGC Issues A Statement on Director Gotbaum's Resignation

After four years at the Pension Benefit Guaranty Corporation (PBGC) – the longest tenure of any PBGC executive director or director – Josh Gotbaum will step down next month.  In a letter to the PBGC staff, Gotbaum said, “I love working at and with PBGC.  This is a great agency with dedicated and talented public servants, working on one of the major social challenges of our time.” 

 

In a letter from Secretary of Labor & PBGC Board Chair Tom Perez to Director Gotbaum, Perez writes, “In the American Airlines case, you showed that PBGC can be a powerful force, not just to replace pensions, but to preserve them.  More than 130,000 people owe you and PBGC a debt of gratitude.” Secretary Perez also highlighted PBGC’s role in retirement issues generally:  “[E]nhancing retirement security remains one of our greatest challenges as a nation.  Thanks in large measure to your leadership, PBGC has been and will continue to be an important part of that effort…”