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OH HCR14
Concurrent Resolution
Status
5/5/2015
Primary Sponsor
Stephen Slesnick
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AI Summary
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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.
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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.
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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.
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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.
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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