WASHINGTON, Dec. 12, 2016 /PRNewswire-USNewswire/ -- The following statement was issued today by Sean McGarvey, Chairman of the National Coordinating Committee for Multiemployer Plans (NCCMP):
"After conducting a thorough search process, the National Coordinating Committee for Multiemployer Plans is pleased to announce that Michael D. Scott will become its Executive Director, effective January 1, 2017.
"On behalf of the Officers and the Board of Directors, I am very excited to be making this announcement today. Michael Scott brings to the NCCMP a wealth of talent and experience, including a broad level of regulatory and legislative expertise. Michael has significant investment banking and advisory experience with the U.S. Government and the private sector having served at the U.S. Department of the Treasury from 2001-2006 and later in the private sector. He additionally served as the principal advisor to the Chairman of the U.S. Securities and Exchange Commission for financial crisis issues during the financial market calamity in 2008-2009. Michael has also worked extensively with the Pension Benefit Guaranty Corporation (PBGC) and has a deep understanding of the workings of that organization.
"Michael Scott is uniquely qualified to continue the work of his predecessor, Randy DeFrehn, who deserves our gratitude and admiration for a 40-year career in which he tirelessly devoted himself to the health and vitality multiemployer health care and pension plans, and for positioning NCCMP at the forefront of important policy deliberations that directly affected the interests of multiemployer plan participants."
"We look forward to Michael joining our team in 2017, and to identifying opportunities to work with the new Administration and the Congress on issues such as multiemployer pension plan reform, the strengthening of our nation's health care system, and leveraging our pension assets to support infrastructure and work opportunities for plan participants."
NCCMP is an organization of national, regional and local multiemployer pension and health and welfare plans, International and Local Unions, national and local employer associations, individual employers, and multiemployer fund professionals. The 1,400 multiemployer pensions have more than $500 billion in plan assets.
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SOURCE National Coordinating Committee for Multiemployer Plans (NCCMP)