<nobr>Jul 7, 2010</nobr>

ERIC Commends Appointment of PBGC Director

ERIC News Release
For Immediate Release: July 7, 2010

Washington, D.C. -- The ERISA Industry Committee (ERIC), the Washington, D.C.-based trade association representing America's major employers, today commended the appointment of Joshua Gotbaum as director of the Pension Benefit Guaranty Corporation (PBGC).

On hearing that President Obama appointed Gotbaum as director, ERIC President Mark Ugoretz made the following statement:

"We are pleased that the PBGC will finally get a permanent director. The position has been vacant for far too long, and there are far too many important issues facing the agency and plan sponsors that can only be addressed by an appointed director. Gotbaum has experience with the kind of issues the PBGC faces and we look forward to working with him in a constructive fashion."

Ugoretz also commended Acting Director Vince Snowbarger "for doing an admirable job of holding down the fort for over a year under very difficult circumstances. He's been doing two jobs and deserves a lot of credit."

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For more information:
Ted Godbout
Director, Communications
The ERISA Industry Committee
1400 L Street, NW, Suite 350
Washington, DC 20005
Phone: (202) 789-1400
Fax: (202) 789-1120
tgodbout@eric.org
www.eric.org

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The ERISA Industry Committee (ERIC) is a non-profit association committed to representing the advancement of the employee retirement, health, and compensation plans of America's largest employers. ERIC's members provide benchmark retirement, health care coverage, compensation, and other economic security benefits directly to tens of millions of active and retired workers and their families. ERIC has a strong interest in proposals affecting its members' ability to deliver those benefits, their cost and their effectiveness, as well as the role of those benefits in the American economy.

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