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OH HCR14

Concurrent Resolution

Status

Introduced

5/5/2015

Primary Sponsor

Stephen Slesnick

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Origin

House of Representatives

131st General Assembly (2015-2016)

AI Summary

  • Declares Ohio's support for steelworkers and urges the President and Congress to ensure the Pension Benefit Guaranty Corporation is fully funded to pay pension benefits to retired steelworkers and their spouses.

  • Recognizes that over 30 years the steel industry has experienced significant job losses and plant closings, with steelworkers having sacrificed higher wages in exchange for secure pension benefits.

  • Notes the Pension Benefit Guaranty Corporation, a federal pension insurance program, faces financial pressures as the 2008 economic downturn caused increased company bankruptcies and more workers requiring pension payments.

  • Calls on the Pension Benefit Guaranty Corporation to implement 2009 Government Accountability Office recommendations 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 the resolution to the President, Congress leadership, all Ohio Congressional delegation members, and Ohio news media.

Legislative Description

Urges funding of the Pension Benefit Guaranty Corporation

Last Action

Introduced and Referred to Committee: Commerce and Labor

5/5/2015

Committee Referrals

Commerce and Labor5/5/2015

Full Bill Text

No bill text available