President-elect Donald Trump has selected Frank Bisignano, the CEO of financial services technology company Fiserv, to lead the Social Security Administration.
Mr. Trump said Mr. Bisignano enjoys “a tremendous track record of transforming large corporations.”
“He will be responsible to deliver on the Agency’s commitment to the American People for generations to come!” Mr. Trump posted late Wednesday on Truth Social.
Fiserv is a giant payment and financial technology company used by banks, credit unions and other lenders.
Mr. Trump said the company “touches almost every American household each day.”
The Social Security Administration processes retirement, disability, survivor and family benefits. It also enrolls people in Medicare and provides Social Security numbers, a key government identifier.
Former Maryland Gov. Martin O’Malley is the current administrator under President Biden.
Mr. Bisignano previously served as co-chief operating officer at JPMorgan Chase & Co., and he is a founding board member of the National September 11 Memorial and Museum.
During the campaign, Mr. Trump pledged to preserve Social Security benefits and eliminate taxes on them.
Mr. Trump’s sweeping tax promises might run into headwinds on Capitol Hill, however, particularly if his plans impact the program’s solvency.
The program trust fund reserves are expected to become insolvent by 2035, meaning retirees would see a benefit cut unless Congress acts.
• Tom Howell Jr. can be reached at thowell@washingtontimes.com.
Please read our comment policy before commenting.