December 17, 2012 — The Ohio House of Representatives took action and cast a vote of support for Ohio's retired steelworkers. House Concurrent Resolution 21, HCR 21, passed unanimously and calls on Congress and the President of the United States to take action to ensure that the Pension Benefit Guaranty Corporation is equipped to carry out the obligations required of it under the Employee Retirement Income Security Act of 1974.

(D-Lorain) and Stephen Slesnick (D-Canton) jointly introduced this resolution. Rep. Ramos commented on the resolution saying, "For hundreds of Ohio families the continued rise in the Pension Benefit Guaranty Corporation's operating deficit means that a life of hard work put forward, and a life of investments made, means nothing. Because of a financial crisis, uncaused by the workers themselves, retirees are being told that their golden years are no longer golden."

In the last decade, thousands in Ohio have seen their pensions, once promised to them, be denied due to the economic crises. The Pension Benefit Guaranty Corporation is a voluntary insurer to the private defined benefit pension systems, collecting the lowest possible premiums to carry out its operations with little cost to the general public. However, in recent years the deficit facing their operating budget has continued to swell, exceeding $23 billion dollars as more than 280 systems failed in 2009 and 2010 alone. This pressure has meant that the Pension Benefit Guaranty Corporation has been unable to keep up with the number of retirement pensions unfulfilled, and retirees who paid for this insurance have not received the pensions they were guaranteed.

"HCR 21 builds on the idea that those who pay into a pension system, by way of their hard labor and tireless dedication to their trade, will not be left out in the cold once reach the age to collect their retirement," Rep. Ramos said. "Perhaps, more importantly it shows Ohioans that their Representatives here in the Statehouse are on their side, that we hear their stories, that we understand their suffering, and that we are committed to ensuring those golden years still exist."