Congress needs to rescue retired area steelworkers from pension take-back

Lorain Morning Journal

The harsh surprise that hit more than 1,000 retired steelworkers here is unconscionable. They are being told they have to pay back some of their pension money because they were ''overpaid'' by the federal outfit that took over the pensions when Republic Technologies International went bankrupt in 2002.

The federal Pension Benefit Guaranty Corp. said it will take back the money from them by deducting 10 percent from their monthly pension checks in the future.
 
One retiree was told he'd be done repaying his pension ''debt'' 91 years from now. What a joke. Only nobody is laughing.

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Congress needs to rescue retired area steelworkers from pension take-back  »