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S. C. R. No. 27 As Introduced
As Introduced Corrected Version
129th General Assembly | Regular Session | 2011-2012 |
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Cosponsors:
Senators Turner, Cafaro, Seitz, Schiavoni, Oelslager, Hughes, Tavares
A CONCURRENT RESOLUTION
| To declare the state of Ohio's support of its
steelworkers in urging the President and the
Congress of the United States to ensure that the
Pension Benefit Guarantee Corporation is fully
funded and properly administered to pay pension
benefits to retired steelworkers and their
spouses.
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BE IT RESOLVED BY THE SENATE OF THE STATE OF OHIO (THE HOUSE OF REPRESENTATIVES CONCURRING):
WHEREAS, Steelworkers are vital to industry in the Midwest
and play an essential role in constructing and reinforcing
buildings, bridges, and other structures and in producing products
used by other manufacturing industries; and |
WHEREAS, Over the last thirty years the steel industry has
fallen on hard times, causing thousands of job losses and numerous
plant closings across the Midwest; and |
WHEREAS, Steelworkers have negotiated contracts that
sacrificed higher wages and other benefits in exchange for secure
pension benefits; and |
WHEREAS, Steelworkers were promised solvent pension plans
with funds adequate to pay all benefits promised to them; and |
WHEREAS, The Pension Benefit Guarantee Corporation is a
federal pension insurance program that pays pension benefits to
retired workers, including steelworkers, whose employers are
bankrupt and pension plans are underfunded; and |
WHEREAS, There is a sense of urgency concerning the financial
security of the Pension Benefit Guarantee Corporation because the
recent economic downturn has caused an increased number of
companies to go bankrupt, and as a result, the Pension Benefit
Guarantee Corporation is paying pension benefits to more workers;
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WHEREAS, In 2009, the Government Accountability Office
conducted a performance audit of the Pension Benefit Guarantee
Corporation and recommended that the Corporation improve
strategies on determining pension benefits in complex pension
plans, minimize overpayments, improve communication with
participants, and increase accessibility to the appeals process;
now therefore be it |
RESOLVED, That we, the members of the 129th General Assembly
of the State of Ohio, on behalf of all citizens of this state,
support Ohio's steelworkers in urging the President and the
Congress of the United States to ensure that the Pension Benefit
Guarantee Corporation is fully funded to pay pension benefits to
retired steelworkers and their spouses and to ensure that the
Corporation implements recommendations made by the Government
Accountability Office on procedures for paying benefits to retired
workers; and be it further |
RESOLVED, That the Clerk of the Senate transmit duly
authenticated copies of this resolution to the President of the
United States, the President Pro Tempore and Secretary of the
United States Senate, the Speaker and Clerk of the United States
House of Representatives, each member of the Ohio Congressional
delegation, and the news media of Ohio. |
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