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OH SCR27
Concurrent Resolution
Status
Prefiled
N/A
Primary Sponsor
Kenny Yuko
Click for details
AI Summary
- Urges Congress to enact the Butch Lewis Act of 2017 (S. 2147) to address multiemployer pension plan insolvency
- Approximately 130 multiemployer pension plans are at risk of insolvency within 20 years, affecting over 1 million workers, retirees, and survivors
- The Pension Benefit Guaranty Corporation Multiemployer Insurance Program faces potential insolvency by 2025, which would reduce guaranteed benefits paid to retirees
- The Butch Lewis Act creates the Pension Rehabilitation Administration to provide loans to qualified insolvent or underfunded multiemployer plans for paying benefits and improving financial position
- Directs the Senate Clerk to transmit the resolution to federal congressional leaders and Ohio's Congressional delegation
Legislative Description
Urge Congress to enact Butch Lewis Act of 2017
Retirement
Last Action
Refer to Committee: Insurance and Financial Institutions
11/14/2018
Committee Referrals
Insurance & Financial Institutions11/14/2018
Full Bill Text
No bill text available