In agreeing to serve as SSA commissioner, Bisignano also agreed to sell his shares in Fiserv, which were worth roughly $484 million. But because of a loophole in the tax code for government officials that defers his capital gains tax on divestment, he won’t be forced to pay tens of millions of dollars in potential taxes on the massive windfall.

Newly sworn-in Social Security chief Frank Bisignano, who previously was a Wall Street executive, told staffers he had to Google the SSA job when it was offered to him.