S.C.R. No. 27 Summary

• Declares Ohio's support for steelworkers in urging the President and Congress to ensure the Pension Benefit Guarantee Corporation (PBGC) is fully funded and properly administered to pay pension benefits to retired steelworkers and their spouses

• Cites the steel industry's decline over the past 30 years, which has caused thousands of job losses and plant closings across the Midwest

• References steelworkers' negotiated contracts that sacrificed higher wages in exchange for secure pension benefits

• Identifies concerns about PBGC's financial security due to increased corporate bankruptcies from the recent economic downturn, which increased the number of workers receiving PBGC benefits

• Directs that the PBGC implement recommendations from a 2009 Government Accountability Office performance audit regarding pension benefit determination strategies, overpayment minimization, participant communication, and appeals process accessibility