Press Release

President Names Three New Members to PBGC Advisory Committee

Issued by PBGC [Pension Benefit Guaranty Corporation]

Sept. 3, 2024

WASHINGTON, D.C. – President Joseph R. Biden, Jr. recently appointed three new members to serve on the Advisory Committee of the Pension Benefit Guaranty Corporation (PBGC):

Ilana Boivie of the District of Columbia; Kathryn J. Kennedy of Illinois; and Lamont Everett (Monte) Tarbox of Illinois will offer their counsel on investment policy and other matters related to the agency’s mission.

“These new members, who represent employee organizations and the public, will contribute their extensive expertise and experience to our Advisory Committee,” said PBGC Acting Director Ann Y. Orr. “We look forward to working with them.”

About the appointees:

Boivie is the assistant director of strategic resources for the International Association of Machinists and Aerospace Workers (IAM). An economist by training, she has more than 15 years of experience working on retirement, health care, and other compensation and benefit issues. She previously served in a leadership role at the IAM National Pension Fund, and as director of programs for the National Institute on Retirement Security. Boivie graduated with a bachelor’s degree in English from Binghamton University and earned a master’s in economics from New Mexico State University. She will represent the interests of employee organizations.

Kennedy is a law professor and director of the Center for Tax Law and Employee Benefits at the University of Illinois Chicago School of Law. Kennedy previously served on the IRS’ Advisory Council for Tax Exempt/Government Entities, and on the U.S. Department of Labor’s ERISA Advisory Council. During her studies at Drake University, she earned a bachelor’s degree in actuarial science, and within two years of graduation, she became a fellow of the Society of Actuaries. She later graduated from Northwestern University School of Law. Kennedy will represent the interests of the public.

Tarbox has over 30 years of experience as a chief investment officer and advisor serving large multiemployer pension funds and other institutional investors. Before his retirement in 2024, Tarbox was president of the AFL-CIO Investment Trust Corporation.  Tarbox has a bachelor’s degree from Carleton College and an MBA from the University of Chicago Graduate School of Business. Tarbox will represent the interests of employee organizations.

About PBGC

PBGC protects the retirement security of over 31 million American workers, retirees, and beneficiaries in both single-employer and multiemployer private sector pension plans. The agency’s two insurance programs are legally separate and operationally and financially independent. PBGC is directly responsible for the benefits of nearly 1.4 million participants and beneficiaries in failed single-employer pension plans. The Single-Employer Program is financed by insurance premiums, investment income, and assets and recoveries from failed single-employer plans. The Multiemployer Program is financed by insurance premiums and investment income. Special financial assistance for financially troubled multiemployer plans is financed by general taxpayer monies.

Press Release Number:

24-029

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