Pensions

Delphi Retirees in Pension Dispute Pack Local Meeting

Associated Press — Tue, 11 Jun 2013 12:04:00 +0000

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.

Treasury Rep Will Meet With Delphi Retirees

Associated Press — Wed, 10 Apr 2013 10:35:00 +0000

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.

Mediation Rejected for Delphi Pensioners

Associated Press and Dayton Daily News — Thu, 27 Sep 2012 16:06:00 +0000

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.

Ohio Probe Sought in Pensions' Currency Dispute

Associated Press — Wed, 15 Jun 2011 12:33:09 +0000

Ohio Treasurer Josh Mandel is requesting an investigation into whether banks overcharged four of Ohio's five pension funds and the state's injured worker insurance fund for foreign currency services.

In a letter Tuesday to Ohio Attorney General Mike DeWine, Mandel says banks may have manipulated exchange rates on foreign investments over the past dozen years, costing Ohio pensioners and businesses tens of millions of dollars.