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The 2017 Pension Political Power 25: Kenneth Feinberg

No. 18. Kenneth Feinberg, Chairman, Founder and managingpartner, Feinberg Rozen

ByPeter Vasiliev

February 14, 2017

<25 Top Pension Power Players

18. Kenneth Feinberg

Chairman, Founder and managingpartner, Feinberg Rozen

It takes a brave man to tell the Teamsters that they need to cut their pension benefits — and an even braver one to tell them that the cuts they have made arenot enough. Kenneth Feinberg is that man. Known for his skills as a federal mediator — he oversaw the compensation funds for victims of the 9/11 terrorist attacks and theDeepwater Horizonspill, among others — Feinberg was chosen by the Obama administration to oversee the restructuring of insolvent multiemployer retirement funds. The post was created under the 2014 Kline–Miller Multiemployer Pension Reform Act — a recognition of the stiff hurdles the nation’s private sector union pension plans were facing. Last year Feinberg, 71, rejected the first restructuring proposal submitted by the Central States Pension Fund, leaving its more than 400,000 Teamsters uncertain about their retirement future. In February he approved the restructuring plan of the Iron Workers Local 17 pension fund.— Frances Denmark

The 2017 Pension Political Power 25