Senators Yuko and Brown Back Federal Effort to Save Union Pensions
July 12, 2018
Ohio Senate Minority Leader Kenny Yuko (D-Richmond Heights) and state Senator Edna Brown (D-Toledo) announced today they will introduce a resolution in support of federal legislation to protect the pensions of 66,000 Ohioans and 1.5 million American workers and retirees.
“After working hard and playing by the rules for decades, a pension is well-earned and much deserved,” said Senator Yuko. “This is about making sure that thousands of Ohio retirees are able to have the peace of mind and security they were promised. I stand in solidarity with the workers and retirees who are demanding a solution to this crisis and our leaders who are working diligently to prevent cuts and ensure that pensions remain strong.”
The resolution supports the efforts of thousands of retirees who are expected to rally at the Ohio Statehouse today before a joint congressional committee meeting on the topic Friday in Columbus. The committee, chaired by U.S. Senator Sherrod Brown (D-Ohio), will work to develop a policy solution to the pension crisis by November 30.
“For decades, workers contribute to their pensions with the expectation that their hard-earned dollars will be there for them in retirement,” said Senator Edna Brown. “The current crisis jeopardizes workers’ ability to retire with dignity. And, if it isn’t addressed quickly, the results will be devastating to our economy. Workers face losing their hard-fought retirement benefits and countless businesses could face bankruptcy, threatening jobs in Ohio and across the country.”
Between 150 and 200 multi-employer pension funds are imperiled as a result of a federal reform bill passed in 2014. The resolution introduced by Senators Yuko and Brown supports the Butch Lewis Act which was sponsored by U.S. Senator Brown. This act would restore failing pension plans’ ability to meet their commitments to their retirees and workers without cutting benefits.
The resolution is co-sponsored by state Senators Sean J. O’Brien (D-Bazetta), Joe Schiavoni (D-Boardman), Michael J. Skindell (D-Lakewood), Vernon Sykes (D-Akron), Charleta B. Tavares (D-Columbus), Cecil Thomas (D-Cincinnati) and Sandra Williams (D-Cleveland).