Senators’ bill targets pension accountability

WASHINGTON

Ohio’s U.S. Sens. Rob Portman, R-Cincinnati, and Sherrod Brown, D-Cleveland, introduced the Pension Accountability Act on Friday to help protect Ohioans from having their pensions cut with no say in the process. The bill aims to give workers and retirees a seat at the table when a looming multiemployer pension bankruptcy may require major pension cuts, according to a news release. Portman and Brown both opposed the Multiemployer Pension Reform Act, enacted in 2014, and want to replace it with a comprehensive, bipartisan solution. Unfortunately, the senators said, MPRA did nothing to prevent the pending insolvency of the Pension Benefit Guaranty Corporation, which is projected to become insolvent in 2025.