PBGC Appointment a Surprise in Washington Pension Circles Pensions & Investments (12/01) Vol. 29, No. 25 p.2; Anand, Vineeta
Orion Partners founder Steven A. Kandarian has been appointed executive director of the Pension Benefit Guaranty Corp. (PBGC) in a move that surprised Washington representatives of pension plan sponsors, labor organizations, and lobbyists, due to Kandarian's unknown presence in the community. Angela Arnett, a lobbyist with the ACLI, said: "there have been other executive directors at the Pension Benefit Guaranty Corp. that nobody knew about who turned out to be excellent." Kandarian and the PBGC face an unknown future with recent large surpluses likely to be worn down by large companies turning in their unfunded pension obligations to the PBGC.