Ron Stollings on Social Security

Stop Looting American Pensions

Urging the U.S. Senate to support the Stop Looting American Pensions (SLAP) Act.
• Whereas, 10.6 million hardworking men and women put a portion of their paycheck into a pension account every pay period with the expectation that it will be there when they retire; and
• Whereas, Numerous investment firms have manipulated sections of the bankruptcy code to maximize profits by reducing health benefits, slashing pensions, and selling off a company's most valuable assets; and
• Whereas, the SLAP Act will increase bankruptcy priority for wages, allow the Pension Benefits Guaranty Corporation to perfect liens in bankruptcy, and mandate that a company must continue to make its minimum funding contributions towards its pension plan regardless of declaring bankruptcy; and
• Resolved by the Senate: That the Senate hereby urges support of the SLAP Act, as introduced on October 30, 2019. Source: Billtrack50.com on West Virginia voting record WV SR74 , Mar 7, 2020

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  Page last updated: Dec 16, 2020