"v(\ 

PBGe 

Pension Benefit Guaranty Corporation 

1200 K Street, N.W., Washington, D.C. 20005-4026 

www.pbgc.gov Protecting America's Pensions 

June 7, 2007 

Re: Appeal 2006-0264 Case Number 195240 

LTV Steel Hourly Pension Plan (the "Plan") 

Dear 1 I: 

We have reviewed your February 0, 2006 further appeal of 

PBGC's September 27, 2005 determination of your guaranteed benefit. 

As explained below, we must deny your appeal. 

PBGC's Determination 

PBGC determined your guaranteed monthly benefit: 

• was $1,712.89 instead of the $2,225.46 LTV was paying, from 

the Plan's March 31, 2002 termination through September 0, 

2004,. 

• is $1,470.36, instead of the $1,900.54 LTV planned to pay, 

during your lifetime beginning October 0, 2004, 1 and 

• is a Joint and 50% "Pop-up" Survivor annuity. If you die 

first, your wife's guaranteed benefit is $709.34 per month. 

PBGC is also guaranteeing 68.7849% of the Plan's separate Surviving 

Spouse's Benefit. 

You received net overpayments totaling $4,073.49 2 through 

December 2005. Your current $1,443.75 benefit will change to 

$1,470.36 on October 0, 2018, when your overpayments 'are repaid. 

1 If your wife dies first, your guaranteed benefit "pops up" 

to $1,712.89 per month. The $2,225.46 and $1,900.54 LTV-determined 

amounts would have increased under a non-guaranteed benefit formula 

effective after the plan terminated. 

2 ($2,225.46- $1,712.89) x 12 months 4/1/2002 - 3/1/2003 

+ ($1,649.14 - $1,712.89) x 18 months 4/1/2003 - 9/1/2004 

- ($1,470.36 - $1,408.37) x 15 months 10/1/2004 - 12/1/2005 
-2-

PBGC separately paid you $1,106.43 {$967.15 + $139.28 

interest} for DC.P-funded 3 benefits underpaid before the Plan 

terminated. 

Issues in Your Appeal 

In your February 17, 2006 letter, you asked the Appeals Board 

to answer only the following two questions: 

1. Was LTV's bankruptcy the result of trade with China? 

2. Did Congress know the impact of such foreign trade when 

ERISA 4 was enacted in 1974? 

Your questions are outside the scope of the PBGC determination 

you appealed. PBGC determined only your PBGC-payable benefits under 

ERISA. The ERISA rules PBGC must follow, for calculating guaranteed 

benefits and allocating a terminated pension plan's assets, depend 

on neither: 

• the cause of a plan sponsor's bankruptcy, nor 

• how foreign trade affected a pension plan sponsor or its 

pension plans, nor 

• how much foreign trade was considered when ERISA was enacted. 

Thus, the Appeals Board has no authority to answer your two 

questions. 

Decision 

You have neither identified nor have we found any error in 

PBGC's determination of your PBGC benefit. Therefore, we must deny 

your appeal. This letter concludes your administrative remedies 

with respect to PBGC's September 27, 2005 determination. You may, 

if you wish, seek court review of PBGC's determination with respect 

to the issues you raised. Thank you for your patience while we 

carefully reviewed PBGC's determination and your appeal. 

Sincerely, 

tJ ~'-~. 1?(, 

William D. Ellis 

Appeals Board Member 

3 The "DCP" was formerly the LTV Steel-USWA Pension Plan, 

until the DCP merged into the Plan in 1999. 

4 Employee Retirement Income Security Act of 1974, as amended