Business meeting to consider the nomination of Janet Dhillon, of Virginia, to be Director of the Pension Benefit Guaranty Corporation

Title

HELP Committee vote on Janet Dhillon's nomination to lead PBGC

Purpose

The Senate Health, Education, Labor, and Pensions Committee met to vote on the nomination of Janet Dhillon to be Director of the Pension Benefit Guaranty Corporation (PBGC). Chair Cassidy and Senator Baldwin, sitting in for Ranking Member Sanders, gave opening statements outlining their support and opposition before the committee proceeded to a roll call vote. Begins at▶ 0:21:15

Who spoke

• Chair Bill Cassidy (R-LA)▶ 0:21:15: Opened the meeting stating its purpose was to vote on Dhillon's nomination▶ 0:21:15; argued PBGC needs "desperate reform," citing a case where Central States Pension Fund overbilled the agency by $127 million after including 3,479 dead people in a bailout request▶ 0:22:01, and said committee oversight prevented $375 million in wrongful payments▶ 0:22:31; said PBGC failed to provide timely technical assistance to troubled plans▶ 0:22:31; praised Dhillon's tenure as EEOC Chair, including securing over $535 million in recoveries for discrimination victims▶ 0:23:30, and voiced support for her confirmation▶ 0:23:30; later oversaw the roll call vote and announced the motion agreed to▶ 0:27:38▶ 0:28:49.

• Sen. Tammy Baldwin (D-WI)▶ 0:23:58: Said she was sharing Ranking Member Sanders's opening statement and stated strong opposition to Dhillon's nomination▶ 0:23:58; cited that half of workers aged 55-64 have no retirement savings▶ 0:24:29, and that 22% of seniors live on $15,000 a year while half live on less than $30,000 a year▶ 0:24:46; noted 30 million workers and retirees still have defined-benefit pension plans▶ 0:25:19; credited the Butch Lewis Act, part of the American Rescue Plan, with preventing pension cuts of up to 70% for 1.3 million workers and retirees▶ 0:26:05; said Dhillon, as a U.S. Airways executive, helped terminate pension plans covering 50,000 pilots, flight attendants, and mechanics▶ 0:26:33, and as JCPenney's general counsel helped sell its pension plan to an insurer, negatively affecting over 40,000 workers and retirees▶ 0:26:56; announced she would vote no and urged colleagues to do the same▶ 0:27:20.

• Sen. Bernie Sanders (I-VT)▶ 0:23:55: Briefly spoke as the transcript shifted to Baldwin delivering his statement on his behalf▶ 0:23:55.

• Committee clerk▶ 0:27:38: Called the roll of senators for the vote on the nomination▶ 0:27:38.

Key moments

• Chair Cassidy said Central States Pension Fund's bailout request included 3,479 dead participants, resulting in a $127 million overpayment that was later returned by the Teamsters▶ 0:22:01▶ 0:22:31.

• Cassidy said committee Republican oversight prevented $375 million in taxpayer dollars from being wrongfully paid to pension funds▶ 0:22:31.

• Cassidy cited Dhillon's EEOC record of securing more than $535 million in recoveries for workplace discrimination victims as evidence of her leadership ability▶ 0:23:30.

• Baldwin cited that 22% of American seniors live on about $15,000 a year and half live on less than $30,000 a year▶ 0:24:46.

• Baldwin credited the Butch Lewis Act with preventing pension cuts of up to 70% for 1.3 million workers and retirees, and said PBGC must faithfully administer it going forward▶ 0:26:05.

• Baldwin directly opposed Dhillon based on her record terminating pensions for 50,000 U.S. Airways pilots, flight attendants, and mechanics▶ 0:26:33, and selling JCPenney's pension plan to an insurer affecting over 40,000 workers and retirees▶ 0:26:56.

• The committee held a roll call vote on Dhillon's nomination, with Chairman Cassidy voting aye and the motion agreed to, adjourning the meeting▶ 0:28:49.