H.C.R. No. 38 Summary

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

• Acknowledges that steelworkers sacrificed higher wages for secure pension benefits and were promised solvent pension plans with adequate funds.

• Identifies financial concerns with the PBGC stemming from the 2008 economic downturn, which increased bankruptcies and caused the PBGC to pay benefits to more workers.

• Calls on the PBGC to implement recommendations from a 2009 Government Accountability Office audit, including improving benefit determination strategies for complex plans, minimizing overpayments, enhancing participant communication, and increasing appeals process accessibility.

• Directs the Clerk of the House to transmit copies of this resolution to the President, Congress, Ohio's Congressional delegation, and Ohio news media.