Delphi

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.

More than 200 Delphi salaried employees rallied in Dayton yesterday to fight to have their pensions restored. WYSO’s Jerry Kenney reports.

When automaker, General Motors, went through bankruptcy in 2009, about 20,000 non-union, salaried retirees from Delphi saw their pensions slashed, and other benefits like health and life insurance dropped completely.  Those cuts were not applied to all Delphi union workers.  WYSO’s Jerry Kenney reports, fingers are now pointing at the US Treasury Department for not applying those cuts evenly for all Delphi workers.

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