This content is from: Portfolio
The 2017 Pension Political Power 25: Steven Mnuchin
No. 5 Steven Mnuchin


Think presumptive Treasury Secretary Steven Mnuchin won’t have much time to deal with pensions? Think again. The Treasury secretary is one of three board members of the Pension Benefit Guaranty Corp., so pensions fall squarely in his purview. Also, Mnuchin, 54, inherits two ticking pension time bombs. One is the Puerto Rico debt crisis; the other is what to do about the U.S.’s troubled multiemployer retirement funds. Puerto Rico secured itself a stay of execution via the Puerto Rico Oversight, Management, and Economic Stability Act, which Congress passed in June 2016. The Financial Oversight and Management Board for Puerto Rico, formed as part of that legislation, has until February 15 to come up with a plan, but that date is fast approaching. Now Puerto Rico is Mnuchin’s problem, and fixing the commonwealth’s $49 billion pension burden must be a part of any realistic path to fiscal stability. As for U.S. trade unions, they’re not going to wait quietly for a resolution to their growing pension woes. . — Imogen Rose-Smith
![]() 2. Bruce Rauner Governor of Illinois ![]() 3. Betsy DeVos Secretary of Education ![]() 4. Laura & John Arnold Founders, Laura and John Arnold Foundation ![]() 5. Steven Mnuchin Secretary of the Treasury |
![]() 6. Wilbur Ross Secretary of Commerce ![]() 7. Tani Cantil-Sakauye California Chief Justice ![]() 8. Paul Ryan Speaker of the House ![]() 9. Anthony Scaramucci Founder, SkyBridge Capital ![]() 10. Kevin de León California State Senator and President Pro Tempore |
![]() 11. Mike Enzi Chairman, Senate Subcommittee on Primary Health and Retirement Security ![]() 12. Steve Sweeney President, New Jersey State Senate ![]() 13. Jerry Brown Governor of California ![]() 14. Corey Lewandowski Co-founder, Avenue Strategies ![]() 15. Paul Singer President, Elliott Management Corp. |
![]() 16. Randel Johnson Senior Vice President, Labor, Immigration, and Employee Benefits, U.S. Chamber of Commerce ![]() 17. Joe Manchin U.S. Senator ![]() 18. Kenneth Feinberg Founder and managingpartner, Feinberg Rozen ![]() 19. Scott Walker Governor of Wisconsin ![]() 20. Richard Trumka President, AFL-CIO |
![]() 21. Mike Rawlings Mayor of Dallas ![]() 22. Elizabeth Warren U.S. Senator ![]() 23. Kent Mason Partner, Davis & Harman ![]() 24. Bernie Sanders U.S. Senator ![]() 25. Randi Weingarten President, American Federation of Teachers |