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Pension Policy Chief Detailed to Capitol Hill to Aid Senators (1)

Feb. 20, 2020, 6:08 PMUpdated: Feb. 20, 2020, 7:48 PM

The chief policy officer at the Pension Benefit Guaranty Corporation has temporarily joined the Senate Finance Committee staff to bolster Republicans’ pension solvency efforts.

Andrew Banducci’s assignment is “to help Chairman Grassley and the Senate Finance Committee on pension priorities,” Grassley spokesman Michael Zona said Thursday.

Lawmakers spent all of 2018 working out how to save underfunded union pension plans from going bankrupt and exhausting the PBGC’s resources in the process. The financially challenged federal pension insurer projects it will be overwhelmed by union pension liabilities in 2025.

Political arguments about who should ultimately pay for any pension rescue package—taxpayers ...