In international affairs, Preston led the US Delegation on private pension policy at the Organization for Economic Co-operation and Development (OECD) in Paris, France, was a member of the OECD Insurance and Private Pensions Committee, served as Chair of the OECD Working Party on Private Pensions, and worked with the International Organization of Pension Supervisors (IOPS).
He also led oversight of the Federal Thrift Savings Plan, the world’s largest defined contribution plan, and represented the Secretary of Labor on the Boards of the Pension Benefit Guaranty Corporation (PBGC) and the Social Security and Medicare Trust Funds.
Before joining the Department of Labor, Preston served as senior tax and benefits counsel for Chairman Orrin G. Hatch (R-UT) on the Majority Tax Staff of the US Senate Finance Committee where his responsibilities included:
- Employee Benefits
- Health and Affordable Care Act Taxation
- Life Insurance Corporate and Product Taxation
- Social Security, Medicare and Unemployment Insurance Payroll Taxes
- Executive Compensation
- Worker Classification
- Charities and Tax-Exempt Organizations
- DOL Fiduciary Rule
He drafted the Chairman’s primary retirement initiatives: the Secure Annuities for Employee (SAFE) Retirement Act and the Retirement Enhancement and Savings Act (RESA). RESA became the SECURE Act, the most sweeping reform of retirement savings policy in over a decade.
Prior to joining the Finance Committee, Preston served as a senior tax law specialist on the Headquarters Staff of the Tax Exempt and Government Entities Division of the Internal Revenue Service, and as a senior technical reviewer in the Qualified Pension Plans Branch of the IRS Office of Chief Counsel. He also served as a law clerk on the United States Court of Appeals for the Fifth Circuit and worked in private law practice as an employee benefits counselor and ERISA litigator.
Preston earned a BS in business, cum laude, from the University of Idaho; JD, with high honors, from the George Washington University School of Law, where he was a member of the Law Review, and an LLM – taxation, with distinction, including a certificate in employee benefits law, from the Georgetown University Law Center. Prior to law school, Mr. Rutledge was a Naval Officer and served on the USS Bagley (FF-1069).