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Mark J. Warshawsky
Treasury Assistant Secretary for Economic Policy
Mark J. Warshawsky was sworn in as Assistant Secretary for Economic Policy on March 18, 2004. The Assistant Secretary for Economic Policy is advisor to the Treasury Secretary and the Deputy Secretary on all aspects of economic policy. His office is responsible for reporting on current and prospective macroeconomic developments and assisting in the determination of appropriate economic policies. His office is also responsible for the review and analysis of domestic microeconomic issues and developments in the financial markets.
Warshawsky was previously the Deputy Assistant Secretary for Economic Policy, Microeconomic Analysis, at the U.S. Department of the Treasury, a position he held since January 2002. He directed research to assist in the formulation and articulation of public policies and positions of the Treasury Department and the Administration on a wide range of economic issues. These issues included terror risk insurance, financial reporting, pensions, health spending, retirement income security, long-term care, and various aspects of specific industries and sectors of the economy. He also represented the Treasury Secretary, Managing Trustee of the Social Security and Medicare Trust Funds, in preparation of the Trustees Reports.
Before coming to Treasury, Warshawsky was Director of Research at the TIAA-CREF Institute. In that role he directed a small group of staff economists and consultants in research on retirement and investment behavior and policy, pension, insurance and investment products, corporate governance, financial planning, and the financing of higher education.
Warshawsky has organized four research conferences, and has authored three books and over fifty professional articles. His article, written with Brenda Spillman and Chris Murtaugh, investigating the advantages of the integration of the life annuity and long-term care insurance, won a prize competition sponsored by the British Institute of Actuaries in 2001. His research has also been influential in the recent and proposed reforms of minimum distribution requirements for retirement plans.
Prior to joining TIAA-CREF, Warshawsky supervised a study and examination program of underfunded defined benefit plans for the IRS (Employee Plans Division) for which work he received the Assistant Commissioner's Award. Prior to that, Warshawsky was a senior economist at the Federal Reserve Board (Capital Markets Section) where he was responsible for analysis of the financial risk exposure of the corporate non-financial sector.
A native of Chicago, Warshawsky received a Ph.D. in Economics from Harvard University and a B.A. with Highest Distinction from Northwestern University