Gordon Hartogensis is Trump’s Choice for The Pension Corporation
The brother-in-law of the Majority leader of the Senate, Gordon Hartogensis, has been recommended by President Donald Trump to lead the Pension Benefit Guaranty Corp. Gordon is seen by many as someone who has no experience as regards government practices and administration.
With the unavailability of the needed skills, most people think he is clearly unfit to direct the Labor agency department. This department happens to be a quite sensitive one, as it is answerable for the pensions of around 1 to 1.5 million people – both future and current pensions.
Ethics Experts Declare Opposition to Hartogensis’ Selection
Specialists in ethics opposed the selection by stating that appointments like this, were based on familiarity, and not the fitness of the person selected to deliver. The appointment of Hartogensis was made on Monday by The White House, the appointment stated that he was to oversee the Pension Corporation. The White House labeled Hartogensis as a leader who was well versed in the investment and technology fields.
Also, he was described as someone who had vast knowledge and work time in overseeing financial and software matters. One issue which the announcement left out, was the current job which the nominee had. The announcement also failed to mention that Gordon Hartogensis, is McConnell’s brother-in-law. McConnell’s wife happens to be Elaine Chao who is currently serving as the Transportation Secretary. Chao’s sister, Grace Chao is married to Hartogensis.
Hartogensis’ LinkedIn page reads that for seven years, he has once supervised his family’s trust. He has also once served as the Chief Executive Officer and the co-founder of Auric Technology- A software firm.
The Washington Post, however, stated that Hartogensis had no prior practice in community or society service and he most likely does not have a grasp of the mission of the Pension group. The Pension Benefit Guaranty Corp also referred to as the PBGC, is a group which aids in the sustenance of payments from both multi-employer pension plans and single-employer pension plans, this is usually beneficial in times when pension funds disappoint.
Presently, the PBGC is undergoing a multibillion-dollar shortage. In a statement released by Bloomberg, the multi-employer program which is being run by the agency supports pensions which are run by both employers and unions. The agency has been predicted to be bankrupt come 2025.
On the selection and appointment of candidates by The White House, Scott Amey who works with the Government Oversight has described the whole process as faulty. Scott Amey made this known in an interview on Tuesday. He referred to the recommendation of Hartogensis, as another instance of selection based on someone you know other than the knowledge you have.
White House Anonymous Official Backs Hartogensis’ Selection
An anonymous official of the White House happened to declare his opposition and disagreement as regards those who were against Hartogensis’ nomination. He stated that Hartogensis was actually in the right position to lead the pension group, as his knowledge as an Investment manager, puts him in the right position to oversee the PBGC.
As far back as 2013, the shortage of the PGBC funds had doubled, and since he has a vast knowledge when it comes to investment, he would be in the right position to use his skills to put PGBC back on track. This was made known by the anonymous officials.
Tom Reeder’s Appointment As PBGC’S Head In 2015
Formerly before Reeder was given this appointment, he served as an attorney, who majored in the benefits accrued by employees in the country. He also happened to serve in the capacity of the tax counsel in the Treasury Department, for a very long while. In addition to this, he also worked for the Senate Finance committee as a benefits counsel and a health care counsel for the Internal Revenue Service.
These numerous capacities which Reeder happened to have served, must have been one of the major reasons why he was tipped by Barack Obama to head the PBGC.
In a statement released by Reeder on his appointment, he stated that it was a great privilege for him to head the PBGC, as he has spent a good number of his life to aid employers to commence and maintain the plans they have on retirement.
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