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Pozen Named to Presidential Commission on Social Security

Robert Pozen, vice chairman of Fidelity Investments of Boston, was appointed last week by President Bush to a newly-formed presidential commission that will study the Social Security program and issue a report on reforms this fall, the White House announced.

Pozen was the only fund industry representative named to the 16-member bipartisan committee co-chaired by Patrick Moynihan, former New York senator and Dick Parsons, co-chief operating officer of AOL/Time Warner, according to the White House.

The commission is being asked to study reforms to the Social Security system that would preserve benefits, improve Social Security's financial base and develop personal savings accounts for younger workers' retirements, the White House said.

"I hope to bring to the commission a knowledge of how our securities markets work and how cost-effective retirement plans can be designed," said Pozen, a Democrat, in a statement.