< 25 Top Pension Power Players
5. Steven Mnuchin
Secretary of the Treasury
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
The 2017 Pension Political Power 25
1. Andy Puzder 2. Bruce Rauner 3. Betsy DeVos 4. Laura & John Arnold 5. Steven Mnuchin |
6. Wilbur Ross 7. Tani Cantil-Sakauye 8. Paul Ryan 9. Anthony Scaramucci 10. Kevin de León |
11. Mike Enzi 12. Steve Sweeney 13. Jerry Brown 14. Corey Lewandowski 15. Paul Singer |
16. Randel Johnson 17. Joe Manchin 18. Kenneth Feinberg 19. Scott Walker 20. Richard Trumka |
21. Mike Rawlings 22. Elizabeth Warren 23. Kent Mason 24. Bernie Sanders 25. Randi Weingarten |
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