Memorandum establishing succession order for Pension Benefit Guaranty Corporation director
On April 2, 2020, the Trump administration issued a memorandum establishing an order of succession for the director position at the Pension Benefit Guaranty Corporation (PBGC), a federal agency that insures private-sector pension plans. The memorandum designated specific officials to assume the director role in the event of a vacancy or incapacity. This affects the governance structure of the PBGC, which manages pension benefits for approximately 35 million American workers and retirees covered by private pension plans.