Pensions

The Economy & Business
8:04 am
Fri August 16, 2013

Report Challenges GM Bankruptcy Pension Moves

A government inspector general says President Barack Obama's administration played a key role in the General Motors bankruptcy in 2009 as pensions were cut for salaried Delphi Corp. retirees but not unionized workers and retirees of the supplier.

The report issued Thursday stopped short of saying the administration's role was right or wrong. It made no recommendations.

About 20,000 Delphi salaried retirees - nearly half in Ohio - saw their pensions cut by as much as 70 percent during GM's bankruptcy.

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Politics
8:04 am
Wed July 24, 2013

Congressional Committee Wants Delphi Pension Documents Released

A congressional committee is pushing for Treasury Secretary Jacob Lew to release documents related to the pensions of Delphi retirees, and they’re setting a deadline for action.

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The Economy & Business
8:04 am
Tue June 11, 2013

Delphi Retirees in Pension Dispute Pack Local Meeting

The head of a congressional panel has visited southwest Ohio for a hearing packed by salaried retirees of a bankrupt auto-parts supplier who are suing to have their full pensions restored.

The Dayton Daily News reports Republican Rep. John Mica of Florida vowed Monday to subpoena more people about why pensions of Delphi salaried retirees were cut while those of other auto industry retirees were not. Mica leads the Subcommittee on Government Operations for the House Oversight Committee.

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The Economy & Business
6:35 am
Wed April 10, 2013

Treasury Rep Will Meet With Delphi Retirees

Representatives of the U.S. Treasury Department say they'll meet with retirees of a bankrupt auto-parts supplier suing to have their full pensions restored.

The Columbus Dispatch reports that Alistair Fitzpayne, assistant secretary for legislative affairs for the Treasury, agreed to a meeting with Delphi retirees who saw their pensions slashed after the 2009 auto bailout.

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The Economy & Business
12:06 pm
Thu September 27, 2012

Mediation Rejected for Delphi Pensioners

Attorneys for a federally backed pension insurer have declined to enter mediation with retirees of a bankrupt auto-parts supplier suing to have their full pensions restored.

The Dayton Daily News reports that the Pension Benefit Guaranty Corp. rejected the non-binding mediation with Delphi salaried retirees. A spokesman for the insurer said Thursday said it can pay out only the amounts authorized by Congress.

Chuck Cunningham with the Delphi Salaried Retirees Association said it came after six weeks of discussions.

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