THE WHITE HOUSE
Office of the Press Secretary
PRESIDENT CLINTON NAMES SHARON CASSIDY TO SERVE AS MEMBER OF THE ADVISORY COMMITTEE TO THE PENSION BENEFIT GUARANTY CORPORATION The President today announced his intent to appoint Sharon Cassidy
to serve as Member of the Advisory Committee to the Pension Benefit Guaranty Corporation (PBGC).
Ms. Sharon Cassidy, of Millwood, New York, has been employed as General Counsel of United States Steel and Carnegie Pension Fund since 1990. Ms. Cassidy is responsible for all legal matters pertaining to the investment activities of the Carnegie Pension Fund. The Pension Fund manages approximately $11 billion of investments in publicly traded securities, limited partnerships, real estate and real estate investment trusts. Prior to that time, from 1974 to 1990, Ms. Cassidy was employed as an attorney specializing in corporate finance at USX Corporation.
Ms. Cassidy received a B.S. from Wheeling Jesuit University and a J.D. from the University of Pittsburgh.
The Advisory Committee to the PBGC 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 periodically request. The Advisory Committee to the PBGC focuses primarily upon the Corporation's investments, regulations, insurance program and the defined benefit pension system.