Judy Mares, vice president and chief investment officer at ATK, is joining the Employee Benefits Security Administration of the Department of Labor as the new political deputy assistant secretary by October, aiCIO reported Tuesday.
Sage Um writes that Mares will assist EBSA assistant secretary Phyllis Borzi on the enforcement of the Employee Retirement Income Security Act, among others.
EBSA is responsible for over 700,000 retirement plans in the private sector, 2.3 million health plans and other welfare benefit plans.
For the past seven years, Mares was in charge of ATK’s pension, savings and Voluntary Employees Beneficiary Association Plans.
She has also served as chief investment officer at Ameritech Corp. and as director of benefit finance at General Mills.
Um writes that sources are saying that Mares will also have to leave her position as defined contribution committee chair of the Committee on the Investment of Employee Benefit Assets.
Mares will replace Michael Davis who joined Prudential Retirement as the chief of its stable value business.
As I understand- in July ATK FROZE their employee’s Defined Pension Plan for existing employees and new-hires will have only a 401k under her leadership, now she will be a protector of pensions. Mares is rewarded with a job with the Department of Labor in this capacity???