This content is from: Corner Office
The 2015 Pension 40: Joshua Gotbaum
No. 15 Joshua Gotbaum, Guest Scholar, Economic Studies Program / Brookings Institution
Joshua Gotbaum was absent from the 2014 Pension 40 ranking after stepping down after four years running the Pension Benefit Guaranty Corp. Now settled in a new role as a guest scholar at the Brookings Institution, the 64-year-old Gotbaum — son of Victor Gotbaum, a legendary New York labor leader, and stepson of Betsy Gotbaum, a two-term New York City public advocate — is back with gusto. Under his tenure the PBGC championed the cause of defined benefit plans and retirement security, and pragmatic reform remains his calling card. Since leaving, Gotbaum, who suffered minor injuries on the Amtrak train that derailed outside Philadelphia in May, has continued both his public pronouncements and his behind-the-scenes work. He has had a hand in three major policy initiatives to come out of the administration in the past 12 months: The Kline-Miller Multiemployer Pension Reform Act of 2014; Department of Labor guidance opening the door to state-run retirement programs; and DoL guidance clarifying how ERISA fiduciaries should handle environmental, social responsibility and corporate governance factors. He says he “pushed” for state retirement accounts, the guidance on ESG and steps to try to save struggling union pension plans. “I helped a variety of groups make their case,” he says. “I’m very happy that all three happened.” The former investment banker, who has served in every Democratic administration going back to Jimmy Carter’s, recognizes that more work remains. In September he and Kathleen Kennedy Townsend (No. 28), among others, were appointed to the Commission on Maryland Retirement Security and Savings to design a retirement savings plan for workers at Maryland companies that don’t offer pension or savings benefits.
 1. Bruce Rauner Illinois  2. John & Laura Arnold Laura and John Arnold Foundation  3. Chris Christie New Jersey  4. Randi Weingarten AmericanFederation of Teachers  5. Phyllis Borzi U.S. Department of Labor |
 6. Kevin de León California  7. Alejandro García Padilla Commonwealth ofPuerto Rico  8. Laurence Fink BlackRock  9. Rahm Emanuel Chicago  10. Sean McGarvey North AmericanBuilding Trades Unions |
 11. John Kline Minnesota  12. J. Mark Iwry U.S. TreasuryDepartment  13. Damon Silvers AFL-CIO  14. Jeffrey Immelt General Electric Co.  15. Joshua Gotbaum Brookings Institution |
 16. Robin Diamonte United Technologies Corp.  17. Mark Mullet Washington  18. Terry O'Sullivan Laborers' International Union of North America  19. Raymond Dalio Bridgewater Associates  20. Ted Wheeler Oregon |
 21. Thomas Nyhan Central States Southeast and Southwest Areas Pension Fund  22. Karen Ferguson & Karen Friedman Pensions Rights Center  23. Randy DeFrehn National Coordinating Committee forMultiemployer Plans  24. Robert O'Keef Motorola Solutions  25. Caitlin Long Morgan Stanley |
 26. Kenneth Feinberg The Law Offices of Kenneth R. Feinberg  27. Orrin Hatch Utah  28. Kathleen Kennedy Townsend Center for Retirement Initiatives, Georgetown University  29. Ian Lanoff Groom Law Group  30. Joshua Rauh Stanford Graduate School of Business |
 31. Ted Eliopoulos California Public Employees' Retirement System  32. Edward (Ted) Siedle Benchmark Financial Services  33. Teresa Ghilarducci New School for Social Research  34. Denise Nappier Connecticut  35. W. Thomas Reeder Jr. Pension BenefitGuaranty Corp. |
 36. Hank Kim National Conference on Public Employee Retirement Systems  37. Paul Singer Elliott Management Corp.  38. Bailey Childers National PublicPension Coalition  39. Amy Kessler Prudential Financial  40. Judy Mares U.S. Labor Department |