HOUSE RESOLUTION NO. 20
(By Mr. Speaker, Mr. Kiss, and Delegates Hamilton, Ellem,
Brown, Poling,Amores, Anderson, Argento, Ashley, Azinger,
Barker, Beach, Beane, Blair, Boggs, Border, Browning, Butcher,
Campbell, Cann, Canterbury, Caputo, Carmichael, Craig, Crosier,
DeLong, Doyle, Duke, Eldridge, Ennis, Evans, Ferrell, Fragale,
Frederick, Frich, Hall, Hartman, Hatfield, Houston, Howard,
Hrutkay, Hunt, Iaquinta, Kominar, Leach, Long, Longstreth,
Louisos, Mahan, Manchin, Marshall, Martin, Michael, Miley, Moore,
Morgan, Palumbo, Paxton, Perdue, Perry, Pethtel, Pino, Proudfoot,
Roberts, Romine, Rowan, Schadler, Schoen, Sobonya, Spencer,
Stalnaker, Staton, Stemple, Stephens, Stevens, Sumner, Susman,
Swartzmiller, Tabb, Talbott, Tansill, Rick Thompson, Ron
Thompson, Trump, Tucker, Varner, Wakim, Walters, Webster, Wells,
Gil White, H. K. White, Williams, Wysong, Yost)
Urging the members of the United States Congress to take steps to
prohibit companies that file bankruptcy from voiding pension
obligations to employees and retirees.
Whereas, A federal agency was created in 1974 to provide timely
and uninterrupted payment of pension benefits; and
Whereas, The Pension Benefit Guaranty Corporation collects
insurance premiums from employers that sponsor insured pension
plans; and
Whereas, The Pension Benefit Guaranty Corporation guarantees
basic pension benefits earned by 44.4 million American workers and
retirees; and
Whereas, The Pension Benefit Guaranty Corporation had a surplus
of 9.7 billion dollars in 2000; and
Whereas, The current bankruptcies in the steel, airline and
coal industries have resulted in millions of workers losing some or
all of their pensions; and
Whereas, The Pension Guaranty Corporation now faces a deficit
of more than 23 billion dollars; therefore, be it
Resolved by the House of Delegates:
That the Congress is urged to take steps to stop companies
that file bankruptcy from voiding pension obligations; and, be it
Further Resolved, That the Clerk is hereby directed to forward
a copy of this resolution to each member of the United States
Congress.
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