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FOR IMMEDIATE RELEASE

July 19, 2002

Randy Clerihue, Director
Communications & Public Affairs
or
Jeffrey Speicher, News Division
(202) 326-4040

Former Kansas Rep. Snowbarger Is Congressional Liaison for Federal Pension Insurer

The Pension Benefit Guaranty Corporation (PBGC) today announced the appointment of former U.S. Rep. Vincent K. Snowbarger as assistant executive director for legislative affairs.

"Vince Snowbarger brings proven leadership and first-hand insight into the workings of Capitol Hill," said PBGC Executive Director Steven A. Kandarian. "At PBGC, he will help shape policy to strengthen the federal pension insurance program and communicate the agency's concerns to Congress and other important stakeholders."

Snowbarger represented the Kansas Third Congressional District from 1997 until 1999, serving on the Banking and Financial Services, Small Business, and Government Reform and Oversight Committees. Before his election to Congress, Snowbarger served 12 years as a member of the Kansas House of Representatives, where he held the post of majority leader from 1993 until 1997. His legislative assignments there included committees on Taxation, Pensions and Investments, and Labor and Industry.

In addition to his service as an elected official, Snowbarger has enjoyed a successful career as an attorney in private practice. He also taught business law and insurance at MidAmerica Nazarene University in Olathe, Kan., and served as executive director of the Kansas Association of American Educators.

Snowbarger is a 1971 graduate of Southern Nazarene University, and earned an M.A. from the University of Illinois and a J.D. from the University of Kansas. His honors include the Spirit of Enterprise Award of the U.S. Chamber of Commerce and recognition as a Guardian of Small Business by the National Federation of Independent Business.

PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974. It currently guarantees payment of basic pension benefits for about 44 million American workers and retirees participating in over 35,000 private-sector defined benefit pension plans. The agency receives no funds from general tax revenues. Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and by PBGC's investment returns.