Ohio Businesses and Retirees Ask Lawmakers to Fix Their Pensions (Corrected)

Ohio businesses and retirees desperate to avoid the growing possibility that their pension plans will fail got their shot to ask lawmakers for help during a July 13 hearing.

Representatives from several Ohio businesses and pension advocates spoke to the bipartisan Joint Select Committee on Solvency of Multiemployer Pension Plans about their ailing pensions and the growing funding deficits. The committee has until the end of November to propose legislation to fix the multiemployer pension system. The nation’s pension insurer, the Pension Benefit Guaranty Corporation, projects its program covering those plans will be insolvent by 2025.

The bipartisan joint committee ...