Experts Push For Overhaul Of PBGC Leadership

Law360, New York (May 14, 2009, 12:00 AM EDT) -- Experts urged lawmakers on the U.S. Senate Special Committee on Aging on Wednesday to overhaul the governance of the Pension Benefit Guaranty Corp., arguing that the federal pension insurer is in dire need of consistency and long-term vision as automakers' looming bankruptcies threaten to force millions more onto its benefits roll.

The experts blamed the faulty governance structure for exacerbating the numerous troubles currently plaguing the PBGC — including a deficit that tripled in the first six months of 2009 from $11 billion to $33.5 billion...
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