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Bradley Belt picked to lead PBGC

April 22, 2004 at 10:24 AM

WASHINGTON, April 22 (UPI) -- Bradley Belt has been selected to be executive director of the U.S. Pension Benefit Guaranty Corp., the nation's retirement income watchdog.

Belt has served as president of The Washington Capital Group, a financial institution consulting firm, and managing director and general counsel of The Commonwealth Group, a merchant banking and corporate consulting firm.

He has also held a series of public-service positions, including counsel to the Senate Committee on Banking, Housing and Urban Affairs, and as chief Republican counsel to the securities subcommittee. Belt also held senior staff positions at the Securities and Exchange Commission.

Labor Secretary Elaine Chao said in a release: "Bred Belt has an impressive array of experiences in the private, public and non-profit sectors. His financial expertise will be very valuable in protecting the retirement security of millions of American workers."

The PBGC protects the retirement incomes of nearly 44.3 million U.S. workers in more than 31,000 private defined benefit pension plans, including those from companies that have since closed.

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