[Congressional Record Volume 143, Number 102 (Thursday, July 17, 1997)]
[Extensions of Remarks]
[Page E1455]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 APPOINTMENT OF DAVID STRAUSS TO BE EXECUTIVE DIRECTOR OF THE PENSION 
                      BENEFIT GUARANTY CORPORATION

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                           HON. EARL POMEROY

                            of north dakota

                    in the house of representatives

                        Thursday, July 17, 1997

  Mr. POMEROY. Mr. Speaker, I rise today to applaud the appointment of 
David Strauss, a fellow Valley City, ND, native and close friend, as 
Executive Director of the Pension Benefit Guaranty Corporation [PBGC].
  I couldn't be more pleased to see such a good friend named to such an 
important Government post. Throughout his career, David has been an 
outstanding public servant deeply devoted to advancing the interests of 
working families. In this exciting new position, David will continue 
that work as the Government's top official responsible for protecting 
the pension security of 42 million American workers and retirees 
participating in about 50,000 private-sector pension plans.
  David comes to the PBGC with extensive management and policy 
experience as deputy chief of staff to Vice President Al Gore since 
1994. In that position, he played a major management role, developed 
policy options and advised the Vice President on a broad range of 
economic and domestic policy issues including wage and workplace 
protection, retirement security, health care, welfare, and trade.
  Ensuring that Americans can look forward to a financially secure 
retirement has emerged as one of the most important public policy 
issues of the day. As head of the PBGC, David will be a leader in 
crafting our Nation's response to this retirement security challenge. 
And with his unique background as a top-notch manager and policymaker, 
it's hard to imagine someone better suited to this role.
  Prior to his position with the Vice President, David served as chief 
of staff for the late Senator Quentin Burdick of North Dakota and then 
as staff director of the Senate Environment and Public Works Committee, 
which Senator Burdick chaired.
  Previously, as North Dakota State Executive Director for the U.S. 
Department of Agriculture's Stabilization and Conservation Service--now 
the Farm Service Agency--he directed an agency with 53 county offices 
and 1,200 employees, which administered $1.3 billion in loans and 
direct payments to the farmers of North Dakota. During this period, he 
was recognized with a Special Achievement Award from the Secretary of 
Agriculture for his managerial skill and for reducing administrative 
costs despite a workload increase.
  David Strauss is a superb choice to head the PBGC and I look forward 
to working with him on a broad range of retirement security issues. Mr. 
Speaker, I also submit for the Record an article from the Fargo Forum 
on David's appointment.

                  [From the Fargo Forum, July 3, 1997]

                  Strauss in Line for Pension Position

                           (By Mikkel Pates)

       David Strauss, a North Dakota native and deputy chief of 
     staff to Vice President Al Gore, has been picked to be 
     executive director of the government's Pension Benefit 
     Guaranty Corp.
       Pensions & Investments, the Washington trade paper which 
     broke the story, said the announcement will come any day.
       Strauss, 47, was a chief of staff for the late Sen. Quentin 
     Burdick, D-N.D., through most of the 1980's and later for the 
     Senate Committee on Environment and Public Works for which 
     Burdick was chairman.
       He also served briefly as chief of staff for Sens. Jocelyn 
     Burdick, D-N.D., and John Breaux, D-La., before going to his 
     current job in 1994.
       Through an aide, Strauss declined to be interviewed about 
     the new post because no official announcement has been made. 
     Sources say the announcement could come later this week or 
     next week.
       The PBGC is a non-profit corporation wholly owned by the 
     federal government. The corporation regulates and monitors 
     pension plan insurance programs.
       Among other things, it steps in if a pension plan fails and 
     can't pay benefits. It makes up the difference in assets, 
     administers the fund, and distributes the basic benefits.
       The agency covers all single-employer and private defined 
     pension plans and some plans between unions and employers. It 
     is administered by a board, of which the Secretary of Labor 
     is chairman, and includes the secretaries of commerce and 
     treasury.
       Sources at Pensions & Investments called Strauss a good 
     choice for the job, despite his lack of hands-on experiences 
     in pensions. The post does not require Senate confirmation.
       The story quoted Rep. Earl Pomeroy, D-N.D., also from 
     Valley City, who said the appointment of a top political aide 
     showed the Clinton administration's commitment to retirement 
     income security.
       Officials from the Teamsters, the AFL-CIO, and business 
     lobbyists all sang his praises.
       ``David Strauss' appointment will provide the PBGC with the 
     kind of political leadership it has never had,'' said Mark J. 
     Ugoretz, president of the ERISA Industry Committee, a 
     Washington trade group representing the nation's biggest 
     companies.
       ERISA is the Employee Retirement Income Security Act of 
     1974.
       As Gore's aide, Strauss helped develop White House policy 
     options on a range of economic and domestic policies.
       He was involved in working on the Retirement Protection 
     Act, signed by Clinton in December 1994.
       In a 1994 interview with The Forum Strauss said that his 
     career hinged to some degree on Gore's future.
       `If Al Gore is re-elected vice president and then runs for 
     president in the year 2000, I very much would want to be a 
     part of all of that,'' he said at the time.
       Strauss grew up in Harvey and Valley City, and in the 
     1970's became one of the state's most successful political 
     strategists.
       Among other things, he was executive director of the 
     Democratic-NPL party from 1975 to 1977.
       In 1977, he was named North Dakota executive director of 
     the Agricultural Stabilization and Conservation Service (now 
     the Farm Service Agency).
       At the time he was criticized for a lack of farming 
     background for the job.
       He later took great pride in winning achievement awards in 
     the agency.

     

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