In a 53-47 vote strictly along party lines on Tuesday, the U.S. Senate confirmed the nomination of tech CEO Frank Bisignano to be the 18th commissioner of the Social Security Administration (SSA).
Bisignano will lead the high-profile agency that plays a central role in delivering financial security to more than 70 million Americans. Bisignano will be tasked with overseeing its operations, improving service, and ensuring the long-term sustainability of its programs.
Bisignano brings extensive experience from the private sector, having held leadership roles at Fiserv, JPMorgan Chase, and Citigroup. Supporters say his background in financial services and technology positions him well to modernize the SSA’s operations and improve efficiency.
“I would like to extend my congratulations to Commissioner Bisignano as he takes the helm of the Social Security Administration. Mr. Bisignano’s decades of experience running large financial institutions will be a vital asset as the SSA works to modernize its agency to better serve its mission and be more responsive to beneficiaries all while protecting the program for current retirees and future generations,” said Ways and Means Committee Chairman Jason Smith (R-MO) in a statement Tuesday.
“Mr. Bisignano, President Trump, and Republicans in Congress are committed to preserving the retirement benefits that millions of seniors, disabled workers, and their families depend on, and I look forward to working with the Commissioner to strengthen the Social Security programs and improve the service that the SSA provides to the American people,” Smith added.
Senate Finance Committee Chairman Mike Crapo (R-ID) issued the following statement Tuesday upon Bisignano’s confirmation:
“Mr. Bisignano understands the importance of improving customer service at the Social Security Administration, including by bringing down wait times, ensuring that individuals can interact with the SSA in the way they prefer and improving the SSA’s payment accuracy. I am confident Mr. Bisignano has the experience and vision to succeed in this mission, and look forward to working with him as Commissioner.”
Chairman Crapo recently delivered remarks on the Senate Floor urging his colleagues to support Bisignano’s nomination. Read the remarks here and watch them here.
Wyden says Bisignano will ‘gut’ agency
Bisignano obtained the necessary votes for confirmation despite the efforts of Sen. Ron Wyden (D-OR), Ranking member of the Senate Finance Committee, who has repeatedly urged his Senate colleagues to vote “no” over a number of concerns.
“This nominee lied multiple times to myself, my staff, and members of the Finance Committee. He directly contradicted a confidential whistleblower report that I received, detailing Mr. Bisignano’s close ties to DOGE and its ongoing operations at the Social Security Administration. When pressed on it during his confirmation hearing, he lied to me and the Committee, saying he had no direct involvement with DOGE,” Wyden said in a statement released Tuesday in advance of the full senate vote.
Bisignano denied multiple times during that hearing that he had been in contact with leaders at the Social Security Administration, as well as DOGE.
“Mr. Bisignano has made a very lucrative career out of being the guy that swoops in to failing businesses, guts them from the inside out, and moves on to his next target,” Wyden’s statement continued.
“By confirming Mr. Bisignano, the Senate will be signing the death sentence for Social Security as we know it.”
Sen. Ron Wyden (D-OR)
He said the Trump Administration is looking for Bisignano to “gut the Social Security Administration from the inside out, then sell the parts off to the highest private equity bidder and make it harder for everyone to get their money. Their goal is to break the system so thoroughly, that Americans buy in to privatizing the system entirely.”
Former SSA commissioners and advocates for older and disabled Americans have raised serious concerns about proposed widespread restructuring and mass layoffs at the agency, which has a staff of more than 55,000 employees. Changes like new requirements for beneficiaries, regional office closures, and plans to cut 7,000 jobs from the agency will lead to longer wait times for services for millions of Americans.
“By confirming Mr. Bisignano, the Senate will be signing the death sentence for Social Security as we know it,” Wyden said. “Republicans will be responsible when your grandma misses her Social Security check and can’t pay for her month’s rent.”
During his confirmation hearing, Bisignano stated his intentions to diminish average customer service wait times from 20 minutes to less than one minute. He also rejected the idea of privatizing Social Security if confirmed.
“I’ve never thought about privatizing. It’s not a word that anybody’s ever talked to me about,” Bisignano said during his testimony. “And I don’t see this institution as anything other than a government agency that gets run to the benefit of the American public.”
SEE ALSO:
• Senate Finance Committee Advances Bisignano Nomination to Lead Social Security Administration
• Trump Nominates Fiserv CEO Frank Bisignano to Head Social Security
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.