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Office of the Press Secretary

For Immediate Release September 19, 1995



President Clinton today announced his intent to appoint three members to the Advisory Committee of the Pension Benefit Guaranty Corporation. Brief bios on the three follow:

M. Sharon Cassidy of New York is currently General Counsel of United States Steel and Carnegie Pension Fund. As General Counsel, she is responsible for all legal matters pertaining to the investment activities of the Pension Fund. The Pension Fund manages approximately $9 billion of investments in publicly traded securities, private placements, limited partnerships and real estate. Her duties include review of brokerage activities, compliance with ERISA and the Investment Advisers Act of 1940, general real estate matters and environmental compliance for owned real estate. Ms. Cassidy received her undergraduate degree from Wheeling Jesuit College and her J.D. from the University of Pittsburgh.

Teresa Ghilarducci of Indiana is the former Assistant Director of the Department of Employee Benefits at the AFL-CIO in Washington, D.C. and currently serves as a consultant with the AFL-CIO. Since 1991, Ms. Ghilarducci has been an Associate Professor for the Department of Economics at the University of Notre Dame. In addition, she has published numerous articles and several books. Ms. Ghilarducci received both her B.A. and Ph.D in Economics from the University of California at Berkeley.

Joseph S. Perkins of Massachusetts is the Vice President of the American Association of Retired Persons (AARP). He serves as Chair of the Committee on Human Resources and as Board Observer of the Association's Pension and Welfare Trust. He was a founding member and President of the New England Retirement Planners Council and retired in December 1994 as the Corporate Retirement Manager at the Polaroid Corporation. Mr. Perkins received his B.S. in Business Administration from Northeastern University.

The Advisory Committee of the Pension Benefit Guaranty Corporation advises the Corporation on its policies and procedures relating to the appointment of trustees in termination proceedings, the investment of monies, schedules for the liquidation of terminated pension plans and such other issues as the Corporation may request from time to time. The Advisory Committee focuses primarily upon the Corporation's investments, regulations, insurance program and the defined benefit pension system.